SLOD! and Lawyers Real Estate Pty Ltd
SLOD! is a real estate sale negotiation facility developed for Lawyers Real Estate Pty Ltd, and is used by all Lawyers Real Estate franchisees for the sale of clients’ properties. The name SLOD! is not just an anagram of the word SOLD!, it also stands for “Sale by Lawyer Online Direct”.
Lawyers Real Estate Pty Ltd is an incorporated legal practice, and was established to provide consumers with a better way to sell real estate.
A law firm – not a real estate agency
As mentioned above, Lawyers Real Estate Pty Ltd is an incorporated legal practiced (ILP), and so is each Lawyers Real Estate franchisee.
Every Lawyers Real Estate office is operated strictly in accordance with the Legal Profession Act 2004, the Legal Profession Regulations 2005 and the professional standards expected of legal practitioners generally. Furthermore, Lawyers Real Estate is certified to ISO 9000 Australian Standard for Legal Best Practice, the highest standard available for any legal practice – LAW 9000. Please click here for more information.
As a law firm, Lawyers Real Estate does not rely on the Estate Agents Act 1980 for authority to represent its clients in real estate sales, and is not required to hold an estate agent’s licence under that Act. Similarly, Lawyers Real Estate Pty Ltd is not constrained by the Conveyancers Act 2006 in offering its clients conveyancing services.
Thus, while real estate agents and licensed conveyancers can offer consumers only some of the legal services a law firm can offer, Lawyers Real Estate is able to provide consumers with a one-stop-shop service. For example, as your legal representative, Lawyers Real Estate can:
- Provide you with legal advice on every aspect of your sale transaction, including:
- Trade Practices and Fair Trading legislation
- Sale of Land Act and disclosure requirements
- Transfer of Land Act and conveyancing procedure
- Contract law and torts law affecting your sale
- Contract terms and conditions and your legal rights and obligations
- Represent you in sale negotiations with:
- Potential purchasers who show interest in your property
- Legal representatives of purchasers
- Mortgagees and others with financial interests in your property
- Any other party involved in the sale and transfer of ownership of your property
- Act as stakeholder by holding the deposit funds in trust according to law
- Prepare and execute all legal documents, including:
- The Section 32 Vendor’s Statement disclosure document
- Preliminary draft documents during negotiations, such as terms and special conditions
- Draft the contract of sale and any necessary special conditions
- Amend contractual terms to ensure that your interests are protected
- Prepare licence agreements, transfer documents and deposit releases
- Mortgage discharges, caveat withdrawals and statutory declarations
- Attend to all conveyancing tasks, including:
- Obtaining and advising on Land Titles Office searches
- Arranging the execution of transfer documents and declarations
- Co-ordinating settlement with other lawyers, banks and related parties
- Effecting settlement and collecting the balance of sale funds on your behalf
- Notifying the State Revenue Office and rating authorities of the sale
- Negotiate on your behalf between the day of sale and the day of settlement, including:
- Arranging any agreed variations to the contract, such as:
- Change of settlement date
- Extension of finance or other time-specific contractual conditions
- Allowing early occupation by purchaser where mutually agreed
- Giving legal effect to any other post sale agreements
- Re-arranging of settlement where delay or postponement occurs
- Arrange for early release of deposit funds for your use where permissible
- Anticipate and deal with any potential areas of dispute as may arise
- Protect your legal interests and enforce your rights between the day of sale and the day of settlement by:
- Acting pro-actively to prevent or resolve problems before they escalate
- Advising you of matters requiring your attention in the event of any unusual occurrence
- Providing legal advice as to your rights, obligations and options if problems arise
- Seeking compensation and/or penalties in the event of a default or breach of contract
- Taking rescission action if the contract has to be enforced
- Advising on legal action if this should become necessary
- Providing general legal advice on any other matters that may impact on your sale or the conveyancing process between sale and settlement.
For further information, see our Frequently Asked Questions section.
LAW 9000 Certified System
Lawyers Real Estate is certified to the highest standard available for legal practice – LAW 9000. Please click here for more information.
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