Terms of Appointment

I hereby authorise Turnkey Conveyancing, to act on my behalf in respect of the above mentioned transaction which does not include advice on whether the transaction is best value or most suitable for me and I confirm the following in relation to the terms of this Agreement.

1. I acknowledge that I’ve had the opportunity to seek independent legal advice in relation to this Agreement prior to entering into same. I further acknowledge that I’ve had the opportunity to negotiate the terms of this Costs Agreement and have agreed to the professional fees in this matter which will be as follows:

(a) $1350 + GST for the Conveyance of an established property (Includes all the usual work undertaken in connection with the conveyance of established properties)

(b) $1650 + GST for the Conveyance of an Off-The-Plan property (Includes all the usual work undertaken in connection with the conveyance of Off-The-Plan properties)

(c) $250-$450 + GST for the Settlement Preparation & Management (Unless complications arise during the process such as additional unexpected funds required)

(d) $120 + GST for Sundries (An amortised contribution to miscellaneous expenses and overheads critical to the infrastructure of the business and all matters)

(e) In addition to the costs referred to in paragraph 1(a), (b), (c) & (d) herein, I acknowledge  that I will incur disbursements (monies paid out on my behalf by Turnkey Conveyancing) (“Disbursements”), which are not expected to exceed $600 for this transaction but they may be more depending on the types of property and the charges from third party providers

(f) I confirm my agreement to the following Payment Terms:

i. if I’m selling a property I will be invoiced for the Disbursements upon completion of the Vendor Statement (s32) and I acknowledge my obligation to pay any invoice in relation to this within 7 days of the date of same and I further acknowledge that the Contract of Sale and Vendor Statement will not be released or distributed from Turnkey Conveyancing until payment of such an invoice is received

ii. where the Disbursements incur GST I understand that this cost will be passed onto me

iii. if I sell a property the settlement invoice will be paid either prior to settlement or at the time of settlement by deduction from the sale proceeds

iv. if I purchase a property the settlement invoice will be paid prior to settlement or at the time of settlement or settlement will not proceed.

2. I acknowledge that there are variables within the conveyancing process that may affect the above calculations of costs and the major variables that may affect these costs are as follows:

(a) Cooperation of the other party or the other party’s representative in relation to the conveyance process

(b) Variations in the scope of work necessary to complete the conveyance process

(c) If I provide incomplete or inaccurate instructions in relation to the conveyance to be conducted on my behalf

(d) Any dispute that may arise with the other party in relation to the conveyance process.

3. I agree to meet the costs of any additional work undertaken (being work which is not briefed, requested or quoted on the initial Appointment Form and any work that is beyond what is required in a usual conveyancing transaction) which may be charged on a time cost basis at the rate of $250 + GST per hour or part thereof.

4. If the abovementioned property does not transfer for any reason, does not sell within 3-months of the Contract of Sale and Vendor Statement being completed or work begins after being Appointed to work on the matter, I agree to pay half of the agreed fees in 1(a), (b), (c) and (d) + GST.

5. If any legal work in relation to my property transaction is required by a recommended 3rd party, I agree to meet their costs, which will be quoted and charged separately to this Agreement.

6. I acknowledge that in order for Turnkey Conveyancing to avoid increasing fees and penalising those clients who pay promptly, that if I do not pay the required fees within the required timeframes, I will be liable for interest being charged on all amounts that are outstanding for more than 7 days. I acknowledge this interest will be calculated on any balance outstanding for 7 days from the date of a Turnkey Conveyancing invoice being rendered. I further acknowledge that the interest payable will be calculated as being 2% above the Cash Rate Target fixed by the Reserve Bank of Australia plus a default fee of $250 + GST.

7. I acknowledge that if I fail to pay any funds owed to Turnkey Conveyancing pursuant to this Agreement, Turnkey Conveyancing will have an equitable interest in the Property being the subject of this Agreement and may register a Caveat on such Property until the outstanding funds are paid by me. If the matter progresses to this stage I understand that additional fees will be charged and paid by me if I fail to pay any funds owed to Turnkey Conveyancing pursuant to this Agreement.

8. I acknowledge that Turnkey Conveyancing may terminate this Agreement if I fail to pay its Invoices, do not provide Turnkey Conveyancing with adequate instructions, or if I indicate to Turnkey Conveyancing that I have lost confidence in it or its employees. I acknowledge that Turnkey Conveyancing will give me at least 3 days notice of its intention to terminate this Agreement. I further acknowledge that notwithstanding any such termination I will be required to pay Turnkey Conveyancing’s charge for any work completed and expenses incurred up to the date of completion.

9. I confirm and agree that the law of Victoria applies to this Agreement and any dispute arising from same.

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