Buying a Property in QLD
Go Conveyancing manages all the legal aspects of buying property, so you experience a hassle-free purchase
Buying a property can be a tricky process to navigate, so it’s essential that you understand all the legal ramifications of the contract of sale. If you don’t tick all the right boxes and meet all the legal deadlines you can be penalised or forced to buy a property that doesn’t fulfil your expectations.
Why do buyers need our legal conveyancing services?
Buying property is a major financial commitment and you need to be 100% confident with your purchase. So it’s important to know that most property contracts are conditional, meaning certain conditions must be met before the sale can be finalised.
For example, most contracts are conditional on the buyers obtaining a building and pest inspection that identifies any hidden damage or infestations. Did you know, however, that if you don’t obtain these reports by the date stipulated in the contract, the seller may have a right to terminate the contract?
Did you also know that if you sign a contract of sale for a property you have a five-day cooling-off period in Queensland? Within this period, you may terminate the contract by serving a notice on the seller. However, if you do terminate the contract, you’ll be required to forfeit 0.25% of the purchase price. However, what happens if you want to break the contract because of a failed building inspection report?
Our legal conveyancing services for buyers
Our legal conveyancing services for buyers include but are not limited to the following.
Legal searches
We conduct legal searches to ensure that the information provided in the contract is accurate and there are no third-party rights affecting the property (other than those disclosed in the contract). These searches may uncover orders for certain work to be carried out on the property, any outstanding rates or other charges over the property or whether or not there are government proposals in place that could affect the value of the property in the future.
Simplified explanations
Many contracts are extremely complex and difficult to understand. This is why many buyers just skim-read these contracts, hoping they pick up any points that need their attention. In many cases, however, buyers don’t understand all the legal ramifications of the contract. We translate this legal language into simpler terms to help you fully understand your rights and obligations under the contract.
Monitoring deadlines
Most property contracts are conditional on certain conditions being met before the sale can be completed. We monitor these conditions, including those relating to the buyer’s finance approval, building and pest inspections and any special conditions to the contract. If the deadlines are drawing near and you haven’t fulfilled these conditions, we’ll contact you for an update to ensure that you aren’t penalised.
Documents & settlement
For the purchase to be completed, we prepare all the title transfer documents and assist with their transfer and the payment of transfer duty. We also ensure that the final payment at settlement accounts for any council rates, water rates or other outgoings. We facilitate settlement by coordinating with your financial provider at the required date and time. We ensure a lawful transfer of the property so that the buyer becomes the registered owner of the property.