If you’ve found your perfect new QLD home or investment property, and it has a ‘sitting tenant’ (meaning there is currently a tenant/s residing there who will be staying there when the property becomes yours) – you may be wondering how this may affect the amount of stamp duty (transfer duty) you’ll be [...]
Feeling the call to move to the Sunshine state? Conveyancing processes and rules can differ quite dramatically from state-to-state. Here's a list of things every buyer looking to purchase in Queensland should know: In QLD, property purchase contracts are “buyer beware” – in other words, it is up to incoming buyer to do [...]
In Queensland, foreign persons buying certain residential properties are subject to Additional Foreign Acquirer Duty (AFAD). The government introduced this payment to ensure foreign acquirers of residential property who benefit from government services and infrastructure also contribute to their delivery, the same as local buyers. *Note: for some New Zealand citizens, there are [...]
When purchasing a property in Queensland, an amount of transfer duty (aka. stamp duty) must be paid to the government. The amount is based on the purchase price on the contract. The good news is there are certain situations when you may qualify for a concession. Are you buying your first [...]
From 1 October 2019 paper Certificates of Title (sometimes called "The Deed") issued in Queensland will no longer have any legal effect, as the electronic title held by the Titles Office will be the true record of ownership. From this date, you may either keep your Paper Certificate of Title for historical purposes or [...]
One of the most important things buyers often overlook is the importance of insuring the property you are buying immediately after signing the contract. You need to do this even though you will not be the owner of the property until settlement is completed, which may be several weeks away. Why? In Queensland, [...]
In Australia you are separated when you stop living as a couple on a genuine domestic level. This requires at least one person in the relationship to make the decision to separate, act on that decision and tell the other person. Your partner doesn’t have to agree to the separation. Can you still [...]
There have recently been changes to legislation, which now places a responsibility on the buyer to withhold the GST amount from the contract price and pay the GST directly to the Australian Taxation Office (ATO). These changes affect transactions that involve new residential premises or potential residential land, and in some cases, long [...]
Some pretty common life events can impact your existing will, by either voiding parts of it or the whole thing completely! Here are some: 1. When you marry, or remarry – this completely voids your will and you will require a new one. 2. In Queensland, a divorce voids sections of your will which relate to your former [...]
In Queensland, a statutory cool-off period is available to buyers purchasing residential property. This gives a buyer up to 5 business days, from receiving a fully executed copy of the contract, to terminate the contract for any reason. If the buyer elects to terminate the contract by cooling off, then the seller may charge the [...]
