We are legally required to make certain disclosures to you about our fees and other charges. Our Costs Disclosure Agreement informs you of how we are going to charge you for our services and the amount to be charged.

Our service involves assisting you through every step of the conveyancing process, from reviewing the contract to ultimately settling the purchase of your home or investment property.

Once you have completed the property onboard questions in the Loop app, you, and any other purchasers of the property you are buying, will be asked to accept our Costs Disclosure Agreement. We are unable to proceed with your matter until all proposed purchasers have accepted our Costs Disclosure Agreement.

Accepting the Costs Disclosure agreement will look a little like the following:

Professional fees

Our professional fees for acting on the purchase of a property are $950.00 plus GST and disbursements.

The Costs Disclosure Agreement sets out the specific work we will undertake on your behalf, however, a brief summary of what we will be providing includes:

· examination of the marketing Contract for Sale and Purchase we receive from the vendor’s agent and any updated Contract for Sale and Purchase we receive from the vendor’s legal representative and advising you on it;

· negotiating minor amendments with the vendor’s legal representative;

· management of exchange of contracts for sale and purchase;

· attending to post-exchange searches and enquiries; and

· management of settlement of the purchase.

Disbursements

In addition to our professional fees you will need to pay for the cost of disbursements that we incur from our third party providers. These fees include search fees, enquiry fees and certificate fees as set out in our Costs Disclosure Agreement. There are various documents that are required prior to settlement, which will need to be obtained from third parties. We do not add a margin or mark-up on the cost of disbursements that we incur. We only charge you the actual costs that we incur.

Disclaimer The information in this knowledge guide is general in nature only and does not constitute legal advice. You should not rely on the information in this guide as being applicable to your particular circumstances. For specific advice regarding any matter please ensure you contact Loop Law.

Liability limited by a scheme approved under Professional Standards Legislation.

Copyright 2020 Loop.law Pty Limited ABN 19 624 853 318

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