When you enlist the services of the conveyancing solicitors Brisbane locals trust, you’ll be able to focus on all the other important, time-consuming tasks involving buying, selling, or transferring ownership of Brisbane property like packing belongings and organising removalists. Experience peace of mind with Entry Conveyancing – get a free consultation today with a conveyancing solicitor!
Frequently Asked Questions
If I sell my house without the intervention of a real estate agent, do I still need a conveyancer?
Yes. Property cannot be listed on the market or advertised before a proposed contract for sale has been prepared. Anyone who makes an enquiry or offers a property in Brisbane QLD is entitled to ask for a proposed contract for sale. Failure to do so can result in fines.
To draw up a proposed contract for sale, you’ll need to enlist the services of a conveyancer. We can help you prepare a contract for sale and deliver much advice regarding the other aspects of the process, pre-completion, and post-completion measures. You won’t have to worry about legal jargon or little details – we’ll take care of everything and keep you informed every step of the way.
Call us today on 1800 518 187 for a free consultation and quote from our experienced property lawyers and conveyancers.
What is conveyancing?
Conveyancers are licensed professionals who deliver expert advice and knowledge regarding the transfer of property from one party to another. Whether you’re an investment property owner or this is your first residential or commercial property purchase, it pays to understand the process of conveyancing and work with a professional. A typical conveyancing transaction goes through two main phases: the exchange of contracts and completion. Our conveyancers work with you to assist in the sale, purchase, transfer, and lease of both commercial and residential properties.
When should I engage a conveyancer for property transactions?
As soon as you’ve decided to buy, sell, or transfer property in Brisbane QLD, you should contact a conveyancing solicitor immediately to set up a ‘pre-purchase contract review’. Like anything, the quicker you start, the easier the conveyancing process will be for you. It’ll also make the conveyancers’ life easier, as they have much more time to work on and prepare any necessary legal documentation.
What is the difference between conveyancers and lawyers?
It’s easy to get confused by the difference between conveyancers and lawyers who operate from a law firm. While both occupations are qualified to act for you in a property conveyancing Brisbane transaction, there are differences in what a general solicitor from a general law firm will do and how a conveyancer can help.
Conveyancers are licensed to operate in only one aspect of property law: conveyancing. As such, it is common that conveyancers possess much more specialised skills, given it’s the only thing they focus on. There’s also less chance of a conveyancer being out of the office or in the courts dealing with other issues. Conveyancers are only responsible for making sure you meet every legal obligation involved in your property transaction.
In contrast to lawyers, conveyancers cannot advise on areas of the law or offer legal services outside of conveyancing in Brisbane. If you need general legal advice, conveyancers will refer you to a qualified lawyer. Lawyers are trained to advise clients on their legal rights and obligations and represent them in the courts across various issues.
The best course of action? Work with a conveyancer solicitor or a team of experienced property lawyers who regularly deal in conveyancing matters. Have all of the legal expertise of a lawyer, with the specialised knowledge of someone that specialises in conveyancing services in Brisbane.
What is stamp duty, and do I need to pay it?
Stamp duty is a tax imposed by your state government upon the purchase of a property or property transaction. Whilst both parties are liable, the terms of a standard sale contract place liability on the buyer. The amount payable is determined by the purchase price of the property.
Different states in Australia have differing rates. The payment deadline also varies from state to state.
In Brisbane, stamp duty is $17,325 plus $4.50 for each $100, or part of $100, over $540,000.
For homes worth over $1,000,000, the tax is $38,025 plus $5.75 for each $100, or part of $100 over $1,000,000.
How does conveyancing in Brisbane work?
Your conveyancing lawyers Brisbane from Entry Conveyancing will do everything necessary to ensure you’re prepared for critical dates during the process of your property journey, whether it be residential or commercial property. Your typical conveyancing transaction generally consists of three stages: pre-contract, pre-completion, and post-completion.
Conveyancing involves the following actions:
- Make sure any agreed-upon conditions within the contract are satisfied
- Prepare, clarify, and lodge legal documents
- Conduct property searches, research property background and title certificate
- Ensuring payment of land tax, water consumption charges etc.
- Ensuring payment of land tax, water consumption charges etc.
- Settle the property on your behalf
- Calculate any adjustments arising from rates or taxes
Our team takes the guesswork out of buying, selling, and transferring property and is skilled across all aspects of the conveyancing procedure and experienced in filling out the necessary paperwork for finalisation. We offer both residential and commercial conveyancing services, all within fixed price conveyancing. We don’t mark up search costs, and we’ll be with you every step of the way along your property journey. For more information on buying or selling with a conveyancer, contact our team today.
What happens at settlement?
Property settlement is the legal process necessary for the transfer of ownership from one party to another. Buyers, sellers, solicitors, and banks are all involved and will attend settlement.
The length of the settlement process varies from state to state and property to property; however, as a rough guide, it typically takes anywhere from 30 to 90 days in Brisbane.
On settlement day, the purchasers’ bank will provide the funds needed to purchase the property to the buyers’ agent or solicitor, and in return, receive the Certificate of Title from the seller’s bank. Keys can then be handed over to the purchaser, provided all other agreements listed in the contracts have been met. From here, the buyer’s bank registers the relevant documentation and mortgage, notifying services such as electricity and water of the change.
What is a cooling-off period, and how long is it?
A cooling-off period is an interval during which both sides of the transaction can cancel the contract and ‘walk away’ from the purchase without incurring a penalty.
Cooling-off period regulations and length differ from state to state. However, in Brisbane, the cooling-off period lasts for five days which begins as soon as the buyer receives a copy of the contract.
In Brisbane, if the buyer decides to exit or cancel their contract within the cooling-off period, the seller may deduct a penalty of up to 0.25% of the purchase price from the deposit, and will have to refund the rest of the deposit within 14 days.
That’s why our conveyancers Brisbane team recommend buyers undergo a comprehensive review of their contract, making sure they’re happy with the terms before the final agreement or the cooling-off period. Commercial and residential conveyancing offers invaluable insight and advice regarding property contracts and final sale actions, allowing you to better navigate the often-complex nature of legal jargon and property contracts.
Should I have the contract and Section 32 checked before I buy?
It is crucial to have your contract and Section 32 checked before you purchase any type of commercial or residential property.
At Entry Conveyancing, our pre-purchase legal advice allows you to navigate the many ups and downs of buying, selling, and transferring property with more confidence. Too many people fail to receive conveyancing or legal advice from a qualified professional before purchase, which can unfortunately lead to substantial financial issues later on in life.
If you’re in the early stages of purchasing, selling, or transferring property ownership, your best bet is to work with a conveyancing company in Brisbane that you can trust for the entirety of the conveyancing transactions. For the most professional service and fixed price conveyancing, contact Entry Conveyancing today.