Conveyancing

The Conveyancing process is to transfer the legal title or ownership of land and any improvements on that land (house, building, shed), from one owner to another.

This is usually carried out by a Seller and a Buyer entering into a Contract for Sale, which sets out all the terms of the agreement in writing.

Once the Buyer and Seller have both agreed to all the terms of the Contract then the Contract is “exchanged”. This means that Contracts are physically swapped and the buyers conveyancer now holds the Contract signed by the seller and vice versa, and at this time the Contract becomes legally enforceable. A Deposit is usually paid on exchange of Contracts, however this amount may be reduced by agreement, or in some cases a Deposit Bond is used. With Residential properties there is also a 5 business day cooling off period during which the buyer may pull out of the Contract, but would lose 0.25% of their deposit if they did so. The Cooling Off period may be waived in some cases.

It is usually about 4-5 weeks (30-35 days) between exchange of contracts and settlement, however this time frame can be shortened or lengthened by agreement. During this time many actions need to be carried out such as searches are ordered to ensure that there are no outstanding interests or problems with the property, Stamp Duty must be paid to the government (if applicable), a buyers loan must be processed and a sellers loan must be discharged.

Just prior to settlement the buyer should carry out a final inspection on the property to ensure that there is no damage and they are happy and ready to settle. On the day of settlement the buyer will pay the balance of the purchase price for the property to the seller, and the keys and title deed are made available to the buyer.

We will attend to settlement on your behalf, and we will ensure that all documents have been prepared and executed correctly, that all the money is correct and that everything is in order. We will then telephone or email you to advise that settlement has gone through.



Quick Online Quote

New Age Legal Solutions has built a reputation as a trustworthy and solid conveyancing law firm in South East Queensland. To get a quick online quote, click the link below if you are either buying a house or selling your house:

BUYING SELLING

Or you may like to get in touch for a fixed price quote by calling:

07 3378 8222 (phone)

07 3378 8111 (fax)

3/2045 Moggill Road

Kenmore QLD 4069

PO Box 1316, Kenmore, Q 4069