ITS ABOUT BUYING AND SELLING PROPERTY

Homes – Land – Units – Commercial – Buying or selling property will be one of the most important financial transactions you make. To be confident in your decision, do not sign any contract without first seeking our specialist property transfer advice.

PROPERTY TRANSFERS OR CONVEYANCING

Property transfers or conveyancing are terms used to describe the transfer of ownership of property from seller to buyer. The Land Title Act 1994 is the main piece of legislation governing the transfer of property in Queensland.

OUR SERVICE TO YOU

From the commencement of your property transfer right through to completion you will receive specialist guidance to ensure your interests are protected. A member of our Property Transfer Division will be responsible for your purchase or sale and will be available at all times throughout the transfer. You will be kept informed every step of the way. As each property is different, so is each property transfer. Allowing us to act as your specialist property transfer representative will ensure that this important transaction is given thorough attention.

REAL ESTATE AGENTS

An agent introduces a buyer to a property usually they will be able to give you a brief summary of what happens next and point you in the right direction. You may finalise the terms of your own contract, however most will join with us in recommending that you seek legal advice from a lawyer before even signing the contract.

THE CONTRACT

A standard contract for the transfer of property has been developed by the Queensland Law Society and the Real Estate Institute of Queensland. When you find the property you wish to buy, the agent will ask you to sign the standard contract.

SEEK ADVICE BEFORE YOU SIGN

Be warned. No standard contract can deal with the individual circumstances of every transaction. For instance, you may need to add special clauses to the standard contract to cover:

• your particular circumstances, for example, your purchase may depend on the sale of your existing property, or

• matters of particular concern such as building work, pest, or termite damage. Have the agent fax a copy of the draft contract to us before signing and we will discuss your needs with you immediately.

LEGAL COSTS

You will receive information relating to costs up front. A Client Agreement will be sent to you at the outset which contains important details such as costs, work to be performed and the person who will perform the legal work for you.

WHEN BUYING A PROPERTY

We will:

• check the title and plan of the land for easements, caveats, and other encumbrances

• make sure all necessary searches have been made

• advise on any planning regulations or other restrictions affecting the property

• check for any disputes or other charges affecting the land

• prepare all documents and make sure you gain good title to the property you are buying

RESIDENTIAL CONTRACTS

Under your contract you will have a 5 day cooling off period. The cooling off period expires 5 days after you or we receive a fully signed copy of the contract. You are entitled to terminate the contract during the cooling off period however, you are liable to pay 0.25% of the purchase price to the seller as a termination fee.

WHEN SELLING A PROPERTY

Once a buyer has signed and paid a deposit, you will be handed the standard contract to sign. Before signing, speak with us about:

• the inclusion of fixtures and fittings

• any alterations you have made to the property

• the date of settlement and, if relevant, the timing of any new purchase

• GST, capital gains tax and general tax implications

• any encumbrances (such as easements) on the property

Up to the date of settlement, we will:

• check that all documents you are required to sign are in order

• ensure all outstanding government charges such as water rates have been paid

• arrange for the repayment and legal discharge of any mortgage on your property

• ensure you are paid in full for the property

GOVERNMENT FEES

When buying, there will be standard outlays including stamp duty payable to the Qld State Government, Council and government search costs, and document registration fees. If you are buying your residential home you will be eligible for a stamp duty discount if you will live on the property for at least 12 months. Again, we will speak with you about this important concession which will save you money.

When selling, you are obliged to give clear title to the buyer. Your real estate agent will charge a commission on the sale and there will also be bank or building society charges to consider if your property is mortgaged.

OUR GUARANTEE

We guarantee professionalism, personal service and knowledge. If you are not 100% satisfied with the quality of our service, we will do whatever is necessary to guarantee your satisfaction.