SpinConveyancing

SpinConveyancing Conveyancing Services Spin Conveyancing is your local conveyancer in Dandenong North, Melbourne. Fully licenced for all Victorian areas.

Our experienced conveyancer offers a range of services to assist with the sale or purchase of your property. Residential conveyancing services include purchasing units, apartments, houses, land, off the plan, subdivisions, title transfers, settlement & more. Located in Dandenong North to assist clients in Noble Park North, Endeavour Hills, Dandenong, Doveton, Noble Park, Springvale, Springvale Sou

th, Mulgrave, Clayton South, Dingley Village, Keysborough, Lysterfield South, Lysterfield, Knoxfield, Rowville, Wheelers Hill, Clayton, Eumemmerring, Hallam, Narre Warren & surrounds.

Merry Christmas!Spin Conveyancing remains dedicated to its clients and is open for business throughout the Christmas and...
19/12/2022

Merry Christmas!
Spin Conveyancing remains dedicated to its clients and is open for business throughout the Christmas and New Year Period, except for public holidays.


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The 'Subject to Finance' Clause With the exception of Auction Contracts which are never subject to finance, this clause ...
24/11/2022

The 'Subject to Finance' Clause

With the exception of Auction Contracts which are never subject to finance, this clause informs the Vendor of a private sale that the Purchaser legally agrees to the buy the property subject to receiving formal loan approval from their financial institution. It protects the Purchaser from losing their deposit or being sued by the Vendor should their loan application be declined.
The 'Subject to Finance' clause incorporates an end-date; that is, the date by which the Purchaser must notify the Vendor of the outcome of their finance application. Thereafter, the Purchaser generally has a grace period of two business days in which to confirm whether their loan has been granted or denied. The existence of a time-limit provides certainty for both parties and it is incumbent upon the Purchaser to inform themselves (ie. be aware) of the time-frame in which they must notify the Vendor.
The Purchaser must inform their conveyancer if additional time is needed. The conveyancer will work with the Vendor's representative to seek an extension. An extension is never guaranteed.



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Why is a Valuation Necessary?The mortgagee (ie. the financial institution lending money to the borrower) often requests ...
10/11/2022

Why is a Valuation Necessary?

The mortgagee (ie. the financial institution lending money to the borrower) often requests a formal valuation be carried out. This effectively serves as a risk assessment to ensure loan monies can be recovered in the event the mortgagor (ie. the borrower) defaults on their repayments. The value of the property should be greater than the amount being borrowed.

Valuations may also be required for the purposes of assessing compensation to be paid to registered proprietors in the case of land acquisition or easements, as well as for matters pertaining to financial reporting, compliance with tax obligations or family law matters.

The final sale price of a property will not necessarily align with the market value or professional property valuation. These are 'best-guides' but not guarantees.

Anyone who disagrees with the property valuation listed on their council rate notice or land tax assessment notice can lodge an appeal to the relevant municipal authority.



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Land and Improvements.Capital improved value ("CIV") is a rating methodology which incorporates capital improvements suc...
20/10/2022

Land and Improvements.

Capital improved value ("CIV") is a rating methodology which incorporates capital improvements such as buildings, together with the land on which they are situated. By contrast, 'site value' is the unimproved value of the land, which is determined as part of the annual state-wide general valuation process. On each Land Tax Assessment, site value is referred to as 'taxable value'. To determine the total taxable value of a specific parcel of land, refer to the Statement of Lands, which accompanies the assessment.



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Tenants-in-CommonTwo or more co-owners of land may own the property either as joint tenants or tenants in common. Where ...
08/09/2022

Tenants-in-Common
Two or more co-owners of land may own the property either as joint tenants or tenants in common. Where 'Joint tenancy' means that there is no division of property between the registered proprietors, 'tenants in common' refers to ownership of property which is divided in such a way that each of the tenants in common separately owns a part or share of the property. This 'part' or 'share' takes the form of a legal interest and is expressed as a percentage. Each tenant in common can dispose of their shares as they wish.
Some of the significant advantages stemming from holding property as tenants in common include:
The ability to mitigate the financial risk of the registered proprietors. When one of the tenants in common dies, their share does not automatically transfer to the surviving proprietor(s);
Each proprietor registered on title owns the asset;
Each registered proprietor can own the a different share (represented as a percentage) of the property;
Each registered proprietor can legally dispose of their share without consent or approval from the other tenants in common.


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Understanding a Contract of Sale.A Contract of Sale is a legally-binding Agreement between Vendor and Purchaser, in whic...
25/08/2022

Understanding a Contract of Sale.

A Contract of Sale is a legally-binding Agreement between Vendor and Purchaser, in which the latter agrees to buy real property from the former on the terms agreed in the Contract. It is critical that the Purchaser, prior to signing, have the Contract expertly reviewed by a conveyancer to ensure they better understand the substance of the document they will be signing.

This includes taking into consideration any clauses, obligations, duties or tasks which may need to be actioned 1) so as avoid defaulting under the Contract; and 2) to effect settlement.

Upon both parties signing the Agreement, the Contract is said to have been exchanged.



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Verification of IdentityAny individual engaged in any property transaction whatsoever must, by law, verify their identit...
11/08/2022

Verification of Identity
Any individual engaged in any property transaction whatsoever must, by law, verify their identity. This is known as Verification of Identity ("VOI"). The VOI is valid for two (2) years and becomes invalid after this time. A new VOI must thereafter be completed.
As the authorised 'identity agency' for the purpose of performing this service, Australia Post charges a per-person fee. All identification documents are stored in an Australia Post repository and passed onto the clients' conveyancer for their records. The conveyancer must retain these documents for the statutory period of seven (7) years. Paperwork is destroyed after this time.



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What is Stamp Duty?Stamp duty is a government tax on certain transactions. You generally need to pay it when you buy a m...
28/07/2022

What is Stamp Duty?
Stamp duty is a government tax on certain transactions. You generally need to pay it when you buy a motor vehicle, insurance policy or real estate. Stamp duty on a property can also be known as “land transfer duty”. The amount of stamp duty that applies to a transaction varies depending on where you live, the type of transaction taking place, and its value.
By using the Spin Conveyancing Online Purchasing Calculator, purchasers can see exactly how much stamp duty applies to the property.
Link: https://www.smartconveyancer.com.au/calculators/purchasing
In Victoria, all settlements are electronic via an Electronic Lodgement Network Operator (ELNO) such as PEXA. Stamp Duty is paid immediately upon the settlement process.



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With the experience and expertise to complete even the most complex property transfers, Spin Conveyancing offers a full ...
14/07/2022

With the experience and expertise to complete even the most complex property transfers, Spin Conveyancing offers a full suite of services tailored to individual needs.

Their knowledge and advice is an asset to vendors and purchasers; whether buying, selling, investing or consolidating.

For a no-obligation quote, contact their friendly and approachable staff today!



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When it comes to property transactions, the most anticipated day for both Vendor and Purchaser is Settlement. This is wh...
30/06/2022

When it comes to property transactions, the most anticipated day for both Vendor and Purchaser is Settlement.

This is when money, keys and property change hands.

The following elements can be used as an aid in assisting both sides prepare for settlement:

Ensure keys are handed over to the real estate agent prior to settlement;
Ensure the property is in a clean condition, with rubbish removed from the premises;
Ensure a ‘Final Inspection’ is carried out in the week prior to settlement so any concerns can be addressed;
Remember! The property must be in the same condition as it was ‘on the day of sale’, save for ‘fair wear and tear’.



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The conveyancing process lies at the core of every Victorian property transaction. It is pertinent to note the manner in...
16/06/2022

The conveyancing process lies at the core of every Victorian property transaction. It is pertinent to note the manner in which the responsibilities of the vendor differ from those of the purchaser:

The duties of the Vendor include:
Preparing the Contract of Sale;
Preparing the Section 32 Vendor Statement;
Handing the Certificate of Title to the conveyancer.

Upon a property being sold, the vendor must engage a reputable conveyancer who will facilitate and complete all of the legal processes required to effect settlement. This enables the property to 'exchange hands' and the vendor to receive the proceeds of sale.



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Address

Melbourne, VIC
3175

Opening Hours

Monday 9am - 8pm
Tuesday 9am - 8pm
Wednesday 9am - 8pm
Thursday 9am - 8pm
Friday 9am - 8pm
Saturday 10am - 2pm

Telephone

+61399889052

Website

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