Frequently Asked Questions
Do you have questions about legal property conveyancing? We should have the answers.
Conveyancing is the legal process of transferring ownership of real estate from one person or entity to another. This process involves preparation, execution, verification and lodgement of several documents. Investigating the title of the property is one of the most important elements of conveyancing, as well as searching for anything that may affect the property such as proposals by government, illegal structures and outstanding rates.
Our work includes:
- Certificate of Title Searches
- Government department and local authority searches
- Contractual advice
- Preparation and certification of legal documents
- Document stamping
- Calculating adjustments of rates and taxes
- Preparation of settlement statements
- Liaising with mortgagees and financiers
- Settlement attendance
- Verification of identity
- Document storage
- Services relating to buying and selling commercial & industrial property
- Commercial and retail leases
- Contracts for the sale and purchase of business
- Subdivisions and new titles
A cooling off period is a purchaser’s right to terminate the agreement within a certain “cooling off” timeframe, and notice must be served in writing to the vendor or the vendor’s representative. Terminating a contract to buy a property during the 3-business day cooling off period will incur a penalty; being $100 or 0.2% of the sale price (whichever is greater).
Adjustments are prepared by the purchaser’s representative to calculate the monies that are owed on the property. Adjustable items include council rates, water rates, land tax, body corporate fees (if applicable) and rent (if applicable). Adjustments are apportioned so that the vendor pays for everything due on the property up to the date of settlement and the purchaser pays for everything due from the settlement date until the end of the rating period.
What is Verification of Identity?
From 1 July 2017 first home buyers can obtain a full exemption of stamp duty if the purchase price is up to $600,000, and a reduced rate on a sliding scale for properties between $600,000- $750,000. We prepare all necessary documents to be submitted to your lender (or directly with the State Revenue Office) as required.
Are you ready to sell your property and need quality legal support for your conveyancing? Get in touch today and explore our quality service and our transparent fixed price conveyancing solutions. We will help you save time and money. Click here to contact us today and explore our quality service and legal conveyancing solutions. Your property deserves the assistance, quality and skill that we offer.