When purchasing a property in Queensland, or in most States across Australia, one of the biggest costs is that of stamp, or transfer duty. Transfer duty is a tax imposed by State Governments on the transfer of property and often rises into the tens of thousands of dollars, catching many buyers off guard. It’s one of those taxes that has been widely criticised.
Contract of Sale – Insuring the Property:
As soon as you sign that contract to buy a property there are a whole host of things that need to be done and considered. One of these things that is often overlooked, but really should be at the top of your to-do list is the issue of insurance.
Contract Conditions – Pool Safety Certificates:
Contract Conditions – Smoke Alarm Requirements:
In Queensland it is compulsory for all properties to have compliant smoke alarms installed. The standard contract of sale in Queensland contains a smoke alarm section that the Seller is required to complete prior to the buyer signing the contract, stating whether the property is fitted with smoke alarms.
Contract Conditions – Electrical Safety Switch Requirements:
Contract Conditions – Pest & Building Inspections:
If you’re considering buying a property in Queensland then you should be aware that under the standard contract of sale there is a clause for a pest & building inspection to be carried out on the property prior to settlement.
Contract Conditions – Finance Applications:
Property Searches – What are They?
After you sign a contract of sale for the purchase of a property, one of your first tasks will be to find a property lawyer to manage the conveyancing process for you. When you’re ringing around various law firms to get a quote on this conveyancing you will often hear the term ‘searches’; but what are these searches?
Land Tax Search – Liability for Payment:
When you purchase a property in Queensland, as part of the conveyancing process your lawyer will undertake a land tax search of the property to ensure there is no outstanding land tax that remains unpaid by the seller.