Buying a home is the largest financial commitment most people will make in their lifetime. In Queensland the practice of conveyancing has become very difficult and time consuming for many different reasons, including because many people choose to handle such matters themselves when they do not fully understand the legal requirements and procedures. Whether you are buying or selling a house or unit it is important you receive proper advice to ensure your interests are always protected.
Solicitors are experts who have been trained in conveyancing law and have the competence to guide you through a transaction to ensure your interests are protected. No two properties are the same and therefore every conveyance is different. A solicitor can advise you on the need for special conditions to meet your specific needs, as well as other legal matters which might touch on conveyancing law such as updating your will or making an Enduring Power of Attorney. A standard contract for residential conveyancing exists in Queensland. If you wish to make an offer to purchase a property the real estate agent will usually prepare a standard contract for you to sign. You should seek legal advice before you sign to make sure the contract is correct and meets your needs, such as the need to sell another property before completing the purchase. A standard contract cannot deal with the individual circumstances of every transaction so it is important to include any special requirements you have to be able to complete the purchase. All residential sales in Queensland (except sales at auction) are subject to a buyer’s cooling-off period of five business days commencing on the date the buyer or their lawyer receives a copy of the contract signed by all parties. If the buyer decides not to proceed with the sale within that period the buyer can terminate the contract – if that occurs 0.25% of the deposit paid is forfeited to the seller, but otherwise the buyer will suffer no other consequences.
When you are buying a property your solicitor will:
- undertake all the usual searches, including checking the title and plan of the land for any encumbrances such as an easement or caveat
- notify you if the searches disclose any issues or restrictions affecting the property
- check for any disputes or other charges affecting the property if it is a unit or townhouse
- prepare all necessary documents and make sure you receive good title to the property and that any special requirements you have (such as selling an existing property) are included in the contract.
When you are selling a property, you should first speak to your solicitor about:
- ensuring that any Disclosure Statements will be satisfactorily completed
- the inclusion or exclusion of any fixtures and fittings or other items
- any alterations you have made to the property
- the date of settlement
- any particular requirements you have
DJ Hinton Lawyers have experienced solicitors and conveyancing paralegals who can provide assistance and advice to clients throughout the entire process of buying or selling a property to ensure the transaction proceeds as smoothly as possible. They offer competitive fixed prices for both purchases and sales of all property including vacant land, houses, units and townhouses as well as off the plan transactions. If you would like a quote or have a query or concern about a conveyancing matter contact DJ Hinton Lawyers.