SLOD! - Sale By Lawyer Online Direct
SLOD! is a communication tool developed by Lawyers Real Estate to bring buyers and sellers into contact with each other for the purpose of negotiating the sale and purchase of real estate.
SLOD! creates an entirely new real estate experience, with no pressure, no tricks, and no secrecy. And that is just the start.
Everyone has the opportunity to bid
No purchaser is disqualified before they have been given the opportunity to make a bid.
Many purchasers experience frustration and annoyance when told by a real estate agent that they cannot submit a bid unless the bid is in the form of a written contract. Purchasers who want to bid on a property subject to finance or a building inspection often find that their bids are rejected out of hand. In other cases purchasers are not permitted to submit a bid unless they first pay a "holding deposit".
Disqualifying purchasers for reasons not associated with the amount of their bid is unfair, not only to the purchasers but also to the vendor.
The SLOD! bidding process ensures that EVERY potential purchaser has the opportunity to compete on the basis of price first, with the terms of the sale being negotiated last.
You can be sure that if your bid is the best in terms of price, the vendor is highly likely to accommodate your needs by negotiating contract terms in your favour. This is the fairest way to negotiate the sale of real estate.
Bringing the parties togetherIt is most important that buyers and sellers should have at least initial contact with each other:
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The vendor knows the answers. If you have any questions about a property, who better to ask than the person who knows the property best; the vendor. The vendor will answer any initial questions you have about the property, the street, the neighbourhood etc. |
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The vendor can make inspection appointments. If you like what you hear during your initial contact with the vendor, you can make an inspection appointment at the same time. Which makes the process quick, simple and convenient because no agents have to fit in with the arrangement. |
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The vendor will show you through. It can be very frustrating if the person showing you through the property doesn't know enough about it to be able to answer your questions. And you don't want to have to wait for the vendor to be contacted for answers to simple questions. When the vendor takes you through the property, they are available to answer any questions you may have about the house or about the property in general. Of course, if you are interested in making an offer you will be referred to us. We handle all negotiations on behalf of the vendor. |
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Ethical considerations. A common complaint in the real estate industry has to do with the way estate agents prevent the purchaser from meeting with the vendor. The reason estate agents keep the parties apart is to retain control of the transaction, through the "divide and conquer" technique. If the two parties never get to meet each other, they have to rely on and trust the only person who knows what's going on; the estate agent.
When the purchaser and vendor are able to make direct contact with each other, they can "compare notes", and transparency is ensured. |
Contacting the vendor of a Lawyers Real Estate property in SLOD! is easy - just find the property you're interested in, and click on:
A window will display the vendor's name and contact telephone number. An email box will also appear, if you would prefer to arrange your inspection by email.
Easy bidding process
It has never been easier to bid on a property. Just fill in a no-obligation Bid to Buy online or in hard-copy, and send it to us to get negotiations happening. Or use the same form to make a "Knock-Out Bid". Either way, you are safe in the knowledge that you have not signed a contract or a binding offer, and you are not committed to buy until you are ready to commit by signing a formal contract. For information about contracts, see Signing A Contract.
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No appointment in an "escape-proof" estate agent's office
A real estate purchaser once made the comment, "When you're in the estate agent's office is like being in the lair of some arch villain; you feel as though they've got you in their clutches". You'll never have to attend at our office unless it is your preference to do so. Because our service is web-based, you can negotiate your purchase without having to travel. |
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No "holding deposits" on documents
Sometimes purchasers are required by estate agents to pay a "holding deposit" or "agent fee" in order to see the Contract or Section 32 Vendor's Statements. This can cause unnecessary delay and ill-feeling. We provide potential purchasers with prompt and easy access to the sale documents. |
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Download PDF documents
In some States a vendor must provide a disclosure document to a prospective purchaser. SLOD! provides online access to disclosure documents. If the property you are purchasing is in a State that requires the vendor to provide a disclosure document, it will usually be possible to download a complete copy of the disclosure document from from the property listing. Just go to the property listing you are interested in, and click the download icon:
Buying a property is now a much simpler, quicker and fairer process than it has ever been. |
Fair pricingConsumers have to be wary when buying real estate through an estate agent. This is because the estate agent is the person who nominates the price of the property based on influences that have nothing to do with the current market. Consumers are faced with "+" symbols after stated prices, contrived price "ranges", unrealistically high "ambit" prices and highly illegal underquoting.
There is no guesswork in the pricing of properties offered for sale through Lawyers Real Estate:
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Independent valuation
Every property offered for sale through Lawyers Real Estate has been independently valued by a qualified valuer. The valuer determines the current market value of the property, and informs the vendor by way of a formal written valuation. |
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Establishing the price range
Having established the current market value of the property, a range is set at 5% below and 5% above current market value. Setting a range allows for the flexibility needed in commencing the negotiation process. |
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Negotiations
Every bid will be submitted direct to the vendor without alteration or argument. If the vendor decides that the bid is acceptable, the purchaser will be notified immediately and a formal contract will be prepared. If the vendor decides not to accept the bid, then usually a counter-offer will be made. In this way the purchase price is "fine-tuned" between what the purchaser will pay, and what the vendor will accept. |
Fair dealingWe always advise purchasers to obtain independent legal advice. It is in the best interest of the vendor to have a purchaser obtain independent legal advice before buying real estate:
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Pre-contract checks
Your legal representative will advise you to investigate any matters of concern. For example; will the Owners Corporation allow animals in the unit? Have permits been obtained for the new veranda? Will the bank approve finance in a reasonable time? An informed purchaser is a satisfied purchaser. |
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Checking of the sale documentation
Where applicable, your legal adviser will check the disclosure document to ensure that everything is in order. |
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General legal advice
In States where "cooling off" applies, a purchaser who obtains independent legal advice before signing a contract does not need the benefit of a "cooling off" option. In some cases this may mean that the vendor has the benefit of a final and unconditional contract as soon as the purchaser's offer is accepted. (Ask your lawyer whether this applies in your State.) | Both parties benefit when the purchaser is dealt with fairly.
Transparent negotiationsLawyers Real Estate takes pride in the transparency of its sale procedures. Purchasers are encouraged at every stage to seek assistance and advice from their own legal adviser. It is all part of developing a good vendor-purchaser relationship, and ensuring that the sale is to everyone's satisfaction.
Ethical practicesWe don't just talk about ethics; we actually practice ethics in all of our dealings with consumers. When you deal with Lawyers Real Estate you will be pleased to find:
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No separation of purchaser and vendor |
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No false sense of urgency |
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No conflicting interests |
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No false or misleading information |
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No dummy bidding |
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No pressure tactics |
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