By engaging the services of Conveyancing Queensland, you will be partnering with our dedicated team who will guide you through every step of the Residential Conveyancing process.
In Queensland the system of conveyancing is different from other states in Australia.
Queensland does not operate on the basis of exchange of contracts but rather the buyer and the seller are bound contractually (subject to specific terms and conditions) immediately after the contract is signed by both parties.
To afford the Buyer some form of protection, a statutory cooling off period and disclosure requirements have been established under the Property and Motor vehicle Dealers Act (PAMDA).
A cooling off period is the right of a purchaser of property to cancel the agreement for any reason within 5 working days from the date the accepted contract is delivered back to the Buyer.
Canceling the agreement (or rescinding, as it is known) can cost the purchaser 0.25% of the total purchase price and often it is better to seek the advice of the Solicitor who may be able to relieve you of the obligations by another method.
The cooling off period does not apply to all transactions (it does not apply at auction or by private sale for example) and can be shortened or waived by completion of a certificate of independent advice signed off by your Solicitor.
Conveyance is the name most commonly used for the transfer of property from seller to buyer.
We offer personalised customer service, delivered by experienced solicitors and supported by our own leading edge technology.
Our firm is small enough to know our customers by name and big enough to deal with the issues.
We take the time to know you and your needs to ensure we provide the right advice for now and into the future.
Buying or selling property is usually one of the biggest financial transactions of your life.
The transaction is governed by a great deal of rules, regulations, and legislation. The consequences of making a mistake can be both costly and heartbreaking.
In Queensland only qualified legal firms are entitled to charge for undertaking a conveyance.
You can undertake the conveyance yourself or by means of an “assisted kit” Just remember though that you will be the one carrying the burden if something goes wrong.
Conveyancing Queensland has an in-depth understanding of all the law concerning property transactions. We are required by law to carry professional indemnity and fidelity insurance.
When your transfer papers are lodged for registration after settlement, the Local Council, the Public Utilities (such as water) the Valuer General and the Office of State Revenue are all automatically notified of the purchase.
Other providers, such as the phone and electricity suppliers however, will need to be notified by the purchaser.
See our “shifting check list” for the list of people who need to be notified.
Settlement is the finalisation of the sale or purchase process. There are usually four parties involved:
On settlement, the vendor will:
The real estate agents are then authorised by both parties to release the deposit and to deliver the keys to the new purchaser.
Mostly this is dealt with by requesting an extension of time from the other party.
This is important as Queensland operates under a system known as “time is of the essence” which means that where a date is stipulated for the performance of an obligation, the date and time will be strictly adhered to.
Whilst extensions of time are not uncommon they are not granted “as of right” and are considered not to be part of the basic conveyance requirements. Depending upon the situation, an extension of time may find you being liable for interest on the unpaid purchase price or at the least the cost of your own and/or the other side’s additional legal fees.
If a party finds themselves in breach of the contract, they will face a number of consequences (including but not by way of limitation) forfeiture of the deposit and being sued for damages or specific performance.
Once you have made the decision to buy or sell your property, engaging the services of a solicitor is your first step.
Often there will be “special conditions” to your contract that you should be advised on. Even if these terms are for your benefit you will need to be assured that the wording does achieve what it is intended to.
Five minutes by a professional overlooking a contract can often save hours of time and years of heart-break.
A disbursement is the name used to describe payments made on your behalf for third party payments. Most commonly it is used to describe the payment of costs of the search fees.
The costs associated with purchasing a property fall into three categories: Conveyancing (legal) Fees, Government Charges and Additional Costs. These have been outline in more detail below.
We believe every conveyance and every client is different. For this reason we charge a flat rate for the normal conveyancing attendances but will charge on a “User Pays” basis for additional attendances that are outside the normal requirements. Sometimes these costs are able to be recovered or negotiated with the other side.
When purchasing, there are standard State and Local Government charges such as Stamp Duty, Registration fees and search and inspection fees.
Use our Stamp Duty Calculator to estimate your Stamp Duty charges
When purchasing a property, you should be mindful of the additional costs that can be associated with this process. Not all of the list below will apply to everyone, but some potential charges to consider include:
– Lender’s fees
– Inspection costs
– Moving costs
– Estate agent fees
We carry out a comprehensive list of property checks and searches, which are charged to you without markup ensuring you are only paying for what you get.
Sometimes we incur additional costs such as non-local phones, bank charges, photocopying and fax charges. These are automatically tracked and noted on your file.
If these charges exceed our standard $35.00 per file rate we reserve the right to charge for them on an as used basis.
All fees and charges are presented and explained to ensure you have the whole story of the property being purchased.