frequently asked questions
FAQs
All your burning questions are answered below. If you can’t find what you are looking for then give us a call or send an email.
FAQ
General Frequently Asked Questions
Do I have to attend in person to have my identity checked?
With Social Distancing Measures in place we can handle most of this process digitally. We can use video conferencing measures to confirm your identity. Use our “Contact Us” link in the menu bar to request a form with which we can start the process or simply phone us. We are ready to assist you.
Recently released information from our governing bodies re; Verification of Identity (VOI) & Client Authorisation Form (CAF)
ARNECC has released its statement for completing VOIs and CAFs during COVID-19, noting face-to-face verification is not mandatory with ARNECC stating “Subscribers might like to consider using video technology as part of the verification of identity process”
Can I call you?
Of course! Our friendly and knowledgeable customer services reps are available to answer your questions. Our phone number is 03 95218221.
FAQ
Conveyancing
How long does a settlement take?
A simple conveyance can be done in 10 business days and most of this time is taken up by government bodies which we need to contact to complete searches about your property to ensure there is no monies owing on this property when you take possession and to make sure the property you think you are buying is the one you are buying.
What is an easement?
This is an area of the property that should be left clear for access by utilities companies. An example is a drainage easement. This will probably not affect your enjoyment of the land…..unless you wish to build a swimming pool there, or some other permanent structure.
I intend to buy a house “off the plan”. What should I watch out for?
Off the plan contracts can run to hundreds of pages and often include strict “Design Guidelines”. The contract will often specify that these guidelines must be upheld by the builder you engage or the builder the developer engages on your behalf. A number of alterations may be made to the building and land even after you have signed the contract. These might include adding an easement or altering the position of the boundary. Most people who enter into these contracts are unaware of these possibilities. When you approach us to act for you in a conveyance we produce a precedent letter outlining issues we consider informant to your successful purchase.
WHAT SHOULD I LOOK OUT FOR IF I AM BUYING AN APARTMENT OR UNIT OFF THE PLAN?
Off the plan contracts frequently can be 100 or more pages long. Within the contract there may be special conditions that allow the architect, builder or developer to make changes to the apartment size, layout or fittings. Your best protection is to be forewarned. When you approach us to act for you in a conveyance we produce a precedent letter outlining issues we consider informant to your successful purchase.
For some further issues that may arise you might like to view this article from Morningstar.
FAQ
Wills & Probate
What is the difference between a tenant in common and a joint proprietor?
The crucial difference between tenancy in common and joint proprietorship is the law of survivorship.
A joint proprietorship is a de-facto entity – the two (or more) of you own nothing in a separate share but own the whole as an entity comprising of two.
With a joint proprietorship, when one co-owner dies, the surviving co-owner takes the whole interest.
With a tenancy in common, when one co-owner dies, the interest of the co-owner is inherited by the deceased’s co-owner’s heirs and successors who may not be the other co-owner.
Sometimes in commercial partnerships the tenancy in common ownership is chosen. For example two people may be in business as plumbers and buying a warehouse. It makes more sense for their families to inherit their relatives interest in the warehouse than the other plumber.
Get In Touch
187 Bluff Road
Black Rock 3193
Melbourne
03 9521 8221
fax 03 9521 8587
kmoorhouse_perks@mac.com