Conveyancing & Property Law

Conveyancing and property law effects most people at some stage of their lives – whether buying or renting their first home, building an investment portfolio, developing land, or leasing commercial premises to run a business. Our property lawyers can assist with all aspects of Queensland conveyancing and property transactions.

Conveyancing services

Conveyancing is the process of transferring the legal title of property (real estate) from one party to another. Entering a contract to buy or sell property creates binding legal obligations and is likely to be one of the largest financial decisions you will make. It therefore makes sense to seek legal advice from someone experienced in conveyancing and property law.

Buying a property

Once you have found a property you like, you should arrange a pre-purchase building inspection report and perhaps a pest inspection report. These are written reports about the condition of the property which help you find out about potentially costly problems. You may be able to use this information to negotiate a reduction in the purchase price.

If you are happy with the property, you can make an offer to purchase it. If your offer is accepted, you should take the contract to your lawyer or conveyancer. There may be several things that can be negotiated in your favour, and you need to understand your rights and responsibilities before signing.

When you do sign the contract, you will usually need to pay a 10% deposit. The deposit is generally held with the real estate agent and released to the seller
after the property is settled. If you do not have 10% available, your lawyer or conveyancer may be able to negotiate a lesser amount or a deposit guarantee.

What happens after the contract becomes binding?

After the contract has become binding, we will carry out various tasks such as:

calculating and arranging for the payment of stamp duty
liaising with your lender regarding the mortgage and to ensure any borrowed funds will be available on settlement
checking with various government authorities to see if they have an interest in the property
checking to see if there are any outstanding debts to local council
calculating settlement adjustments for council, water and strata rates (as applicable) and providing these to the seller’s legal representative
preparing transfer documents and making final checks on the title

Selling a property

The decision to sell a property, whether it’s your family home or an investment, is a big one and may come about for various reasons. The first step is to have a contract for sale of land prepared setting out the terms of the sale. There are certain disclosures which must be made when drafting a contract. Each property is different, and you should obtain advice specific to your property and personal circumstances.

After accepting a buyer’s offer, contracts are signed, and the deposit is paid to the agent to be held in trust. The contract may be subject to pre-conditions such as final approval or satisfactory building reports. Once these are satisfied and any cooling-off rights expired, the contract becomes binding, and the buyer is obliged to complete the purchase. We will then start the process to ensure the sale is completed in accordance with the contract terms.

Settling your sale

In preparation for settlement, you should arrange for disconnection of electricity and other services. The buyers are entitled to a final inspection just before settlement and you will need to ensure that the property is left clean and tidy, vacant (unless the contract provides otherwise) and with all personal items removed in time for completion.

The settlement statement will show the balance of money to be received from the buyer on settlement. This will take into account the purchase price, the deposit held by the agent and adjustments such as council rates, water rates and strata fees.

After settlement the agent is authorised to release property keys to the buyer and account to you for the deposit held, less their agreed commission/selling fees.

E-conveyancing

Conveyancing transactions were traditionally completed when the legal and lending representatives met to exchange title documents and bank cheques. Settlements have now moved to an electronic platform through Property Exchange Australia (PEXA). Electronic conveyancing enables lawyers, conveyancers and financial institutions to lodge documents and complete settlements online providing greater convenience and faster access to settlement funds.

Buying or selling rural property

While the conveyancing process involved in the sale and purchase of rural property is like a residential transaction, there will be some additional considerations. Each property is unique, and a tailored approach should be taken to ensure the necessary due diligence is carried out for the land in question.

The availability of water to rural property is critical and the contract will need to include details of water allocations and/or licences (as relevant) and the proposed methods for transferring these.

If the sale incorporates a farming enterprise, the business aspects of the transaction must also be considered including the appropriate treatment of Goods and Services Tax (GST), (as applicable).

In addition to the dwelling and fixtures, the contract may include livestock, crops, plant, and equipment. Land and/or stock should be checked for affectations by chemical residue, contamination, noxious weeds, infestations, livestock disease or feral animals.

You may also need to investigate the existence of mining and gas exploration permits, rural easements and rights of way.

Buyers should confirm the permitted use of the land and the types of agricultural activities allowed not only on the subject property, but on neighbouring land, which could impact the use and enjoyment of the property being purchased.

We have extensive experience in conveyancing and property matters. Whether you are buying for the first time, selling, investing, or developing property,
we can help.

If you need assistance, contact [email protected] or call 07 4133 1111 for expert legal advice.