Property Law

Changing Your Mind – Revoking An Offer On Property:

Changing Your Mind – Revoking An Offer On Property:

If you are looking to purchase a property on the Gold Coast, or in Brisbane, the first thing you will do after finding a property you’d like to purchase is to make an offer to the seller. In Queensland this is done by way of signing a contract of sale containing your offer and providing this to the seller for their consideration. The real estate agent will in most cases act as the intermediary in this process, delivering your offer to the seller.

Calculating Rates Adjustments – Brisbane City Council:

Calculating Rates Adjustments – Brisbane City Council:

As part of the conveyancing process your solicitor will calculate a settlement amount, which is the amount the buyer must pay for the property at settlement, taking into account adjustments for things such as, rates, water charges and body corporate fees. Your solicitor will provide you with a settlement statement prior to settlement that details how the settlement amount has been calculated.

Conveyancing Searches - Land Tax Clearance Certificate:

Conveyancing Searches - Land Tax Clearance Certificate:

We’ve written before about the different searches a solicitor will undertake as part of the conveyancing process when you purchase a property. One of these searches that must be undertaken as part of the process is a land tax clearance search. If you are taking out a mortgage to finance your purchase your mortgagee will require this prior to settlement, but in most cases your solicitor will undertake this search even if you are not taking out a mortgage in order to avoid you taking on a land tax liability.