Conveyancing And Leasing

Conveyancing Basics

Are you thinking of

  1. Buying a house?
  2. Selling a house?
  3. Doing both at the same time?

If you have entered into a contract to buy a house or a contract to sell a house, then you will need someone to attend to the conveyancing.  Our solicitors and conveyancers here in Upper Coomera can help you with all of your conveyancing and property transfer needs.

 

What is conveyancing?

Conveyancing is the transfer of ownership of property from the seller to the buyer when a house is purchased.

 

I have signed a contract, do I need a conveyancer?

You are able to complete the conveyancing yourself, but you do this at your own risk. Legislation stipulates that only law practices can provide conveyancing services in Queensland. This is so that you have the full benefit of our mandatory insurance cover and the comfort of knowing that your sale or purchase is being looked after by qualified Solicitors and Conveyancers.  

At Jeff Horsey Solicitor, we are able to take care of all your conveyancing needs – whether buying, selling, your first home, investment or commercial property.

 

What is involved in conveyancing?

There are a lot of things to do to transfer a property.

 

When buying a house, your conveyancer will:

  • Check the property title and plan for easements, caveats and encumbrances;
  • Conduct other searches on the property;
  • Inform you if the searches revealed zoning and planning regulations or other notifications adversely affecting the property;
  • Keep  in touch with you to ensure that any conditions such as building, pest and finance are completed before their deadlines,
  • Check for disputes or other charges affecting the property such as land tax or rates arrears;
  • Prepare all transfer documents and make sure the title is transferred to you on settlement;
  • Calculate transfer duty, prepare stamp duty concession forms attend to payment of stamp duty and stamping of the contract and associated transfer documents;
  • Calculate the final settlement amount ensuring all adjustments are correct;
  • Attend settlement and advise you that you can collect the keys.

When selling a house, your conveyancer will:

  • Check all documents for the sale are in order;
  • Ensure all government charges against the property have been paid,
  • Keep in touch with the buyer’s conveyancer to ensure that any conditions such as building, pest and finance are completed before their deadlines,
  • Arrange for repayment of any mortgage registered against the property and obtain a discharge of the mortgage;
  • Ensure you are paid in full for the property.

What is my role in a purchase?

Once you have signed the contract, there are several things you may need to do. While most conveyances are fairly straight forward transactions, strict time limits do apply, particularly in relation to cooling off periods, payment of deposits, building and pest inspections and the passing of risk.

 

Because these all occur at the front end of the transaction, it is important that you get representation as soon as you sign the contract.

 

  1. Insure the building!  The property is at the buyer’s risk from 5pm on the day the contract is signed.
  2. Take note of any deadlines, you must advise us as to your satisfaction or otherwise of the following:
    1. Finance Approval;
    2. Building and Pest Inspection; and
    3. Any dates written in special conditions that might affect you.
  3. Arrange your finance and tell your financier your finance date. If you are unable to obtain unconditional approval before the finance date, let us know as soon as possible so we can arrange an extension.
  4. Arrange for building and pest inspections and let your conveyancer know the outcome of both before the dates in the contract pass. If your inspection is unsatisfactory to you then in certain situations we can protect your rights by getting you out of the contract or negotiating rectification of the issues or a reduction in price.

Remember to tell your agent that you want our representation and they will get the contract to us right from the get go, ensuring we can protect your interests the whole way along with our comprehensive, personalised and professional conveyancing services.

I’m about to enter into a lease, what should I do?

If you’re about to sign a lease, send us a copy first and we’ll make sure your occupancy agreements meet your commercial goals and are in the best interests of your business.