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Frequently
Asked Questions about Conveyancing- CQ
Why
do you need a lawyer for conveyancing ?
The REIQ (The Real Estate Institute of Queensland ) strongly
recommends using qualified lawyers for conveyancing to ensure
your legal rights and investment are protected at all times.
Buyers should be aware and informed of the conditions of both
the 5 day cooling off period and the Contract of Sale.
What
is conveyancing?
Conveyancing is the process by which the ownership of property
is able to pass from seller to buyer.
What
are the costs of selling?
1. Legal fees
2. Bank fees at time of settlement
3. Real Estate Agent’s Commission
What
are the costs of buying ?
1. Legal fees
| 2.
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Stamp
Duty payable to the State government. The amount you pay
depends on the purchase price and whether you intend to
live there or to buy the property as an investment. There
are also concessions available. Your lawyer will obtain
the correct rate for you. |
3. Searches
to ensure the property is unaffected by anything adverse
4. Pest and building reports
5. Bank fees
What
are the standard searches I may need to obtain and what do
they cost?
| Contaminated
land |
$44.37 |
| Council
Property - Dependent upon which Council - as a guide for
Brisbane City Council Rates Only |
$150.00 |
| Land
Tax |
$32.80 |
| Main
Roads |
$21.20 |
| Registered
Plan |
$15.70 |
| Titles
Office |
$17.11 |
| Body
Corporate certificates (if relevant) |
$49.06 |
| Building
Services Authority |
$31.20 |
| Energex
|
$32.13 |
| Powerlink |
$27.50 |
|
Bankruptcy (per vendor) |
$23.90 |
| Queensland
Rail |
$16.50 |
You decide,
with our assistance, which searches you require.
What
do we offer for our legal fees?
1. Perusal of and legal advice on proposed Contracts of Sale
| 2.
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Advice
on the appropriateness of accepting or waiving the 5 business
day cooling off period |
| 3. |
Negotiations
with other party, their agent or lawyer and preparation
of all transfer documentation. |
4. Obtaining
all standard and non standard searches
5. Liaising with your financial institution to facilitate settlement.
6. Arranging settlement time and date.
7. Calculating the appropriate rate for Stamp Duty and stamping
contract
8. Calculate rate, water and other necessary adjustments
9. Attend settlement.
Contact
us for further information.
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