Hope Island is one of the Gold Coast’s most exclusive suburbs. Home to an enclave of exclusive housing estates, such as Sanctuary Cove and Hope Island Resort, with several world class golf courses meandering in between.
The property website Domain are currently running a series of articles on selling a property, covering aspects from presentation and market advise, to sales tactics and the conveyancing process itself.
Brisbane came alive this weekend for the annual Teneriffe Festival. The streets were lined with a festival of food, markets and entertainment.
So you’ve spent countless weekends scouring the suburbs of Brisbane, or the Gold Coast for that perfect property and you think you’ve finally found ‘the one’ and are ready to put in an offer and sign a contract of sale. It’s right about now that you need to tap the brakes every so slightly. There’s no point rushing in and signing your name, as the entire conveyancing process will be dictated by this contract, so you want to make sure you’ve got it right before signing.
So you’ve had your property on the market for a while and have now signed a contract of sale and sold your property. First of all congratulations on the sale! While getting that offer may be exciting at first, we’re sure that a bit of stress is beginning to creep into your mind as you start to consider the long list of things you now have to take care.
It looks as though the Gold Coast’s skyline is again set to be decorated with towering cranes as development kicks off in a big way in the lead-up to the 2018 Commonwealth games, with a slew of new high rise developments seeing approval from Southport, through Surfers Paradise and down to Broadbeach.
Australia-wide property prices have been on the rise this year, from the highly publicised runaway prices in Sydney, to the steady growth in Melbourne, the recent boom and apartment sales in Brisbane and the slew of new developments announced for the Gold Coast. Key to this tremendous growth has been the high level of sales to property investors.
If you’re looking to get into the property market and buy an investment property there are a lot of benefits to be had, such as wealth creation, capital growth and tax benefits, but since buying property is such a major decision that can take a huge financial toll it’s worth doing some thorough research on the property before signing that contract of sale.
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.
At Dylan & Inns our conveyancing solicitors see a lot of clients who are purchasing an investment property on the Gold Coast, or in Brisbane. Some of these clients are savvy investors who have purchased numerous properties before and are familiar with the process, while others are first time property investors dipping their toe into the market.
In Queensland the standard contracts of sale, being either the REIQ Contract, or the ADLForms Contract, include a standard building and pest condition. What this means is that a contract for the purchase of property will be subject to the buyer undertaking a building and pest inspection of the property and being satisfied with the report they receive following the inspection.
We work with a lot of clients who are buying or selling their first property and are new to the conveyancing process and not sure of all the steps involved. One of the questions we get asked most frequently is ‘do I have to come to settlement?’ So we thought we’d put together a bit of a summary of the settlement process to help.
