Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of Nathan HouareauNathan Houareau
    Participant
    @the-general
    Join Date: 2006
    Post Count: 107

    Hello everybody

    I am chasing a rock solid option contract which I can use for development purposes. If anyone knows where I can get one would you please let me know?

    Thank you

    Nathan

    Nathan Houareau
    Email Me | Phone Me

    Profile photo of RPIRPI
    Participant
    @rpi
    Join Date: 2012
    Post Count: 308

    Hi Nathan

    A lawyer who does options would be the best bet.  

    RPI | Certus Legal Group / PRO Town Planners
    http://www.certuslegal.com.au
    Email Me | Phone Me

    Property Lawyer & Town Planner

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    RPI, is that an area you delve in?

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of shereebeckershereebecker
    Member
    @shereebecker
    Join Date: 2004
    Post Count: 31

    Hi Nathan,

    You should consult a solicitor ideally located in the state where the property is located. If you tell us your state i can suggest a few… or otherwise you can ring around all the solicitors in the area and ask for the property specialist in the firm. Ask them if they've ever done an option agreement, how many, have they ever had to go to court to enforce it and other due dilligence questions to put your mind at ease that it IS a rock solid contract. If they dont give the answers your looking for ring others til you find what you need. You'll probably find something among the commercial lawyers for that state.

    Cheers

    Sheree

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Best to see a property lawyer. Not all property lawyers would do litigation however, so even if someone has not been to court this may not mean anything. In fact a well drafted contract may mean there is no ambiguity and less disputes arise.

    Also the option contract is only one part of it, the aother part is you knowing the contract and meeting all the requirements such as properly notifying the other party that you are exercising the option.

    There was a recent case involing a restuarant in Darling Habour Sydney which involved an option to renew a lease. Millions were spent on a renovation and then the leaseholder failed to property notify the landlord they wished to renew the lease. the result was they were kicked out…

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Nathan HouareauNathan Houareau
    Participant
    @the-general
    Join Date: 2006
    Post Count: 107

    Ok. Property Lawyer would be the best option.

    Does anyone know any lawyers in Perth who specialise in property options?

    Thanks heaps

    Nathan Houareau
    Email Me | Phone Me

    Profile photo of RPIRPI
    Participant
    @rpi
    Join Date: 2012
    Post Count: 308

    Yes,

     Both for my self and clients.  Sometimes and option contract scares the seller and in those circumstances we just use a heavily amended standard REIQ contract with lots of conditions and a long settlement.  

    RPI | Certus Legal Group / PRO Town Planners
    http://www.certuslegal.com.au
    Email Me | Phone Me

    Property Lawyer & Town Planner

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi Nathan

    Jules does quite a bit of work for vendor financiers regarding Options.  He should be able to help.  His contact details are:

    Jules Lewin – Solicitor

    Charthill Legal

    88 Cresswell Rd

    Dianella, WA 6059

    Phone: (08) 9375 5161

    (m) 0417 921 428

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of Markd123Markd123
    Member
    @markd123
    Join Date: 2013
    Post Count: 2

    If you're based in NSW then the best according to a "baby judge" I know is a guy in double bay (who I have used before) and who's details I can dig up if need be.

    Regards

    Mark

Viewing 9 posts - 1 through 9 (of 9 total)

You must be logged in to reply to this topic.