There are a lot of conveyancing services all providing their own style of service.
Conveyancing is the term used to describe the transfer of legal ownership of property.
Most people know it as what lawyers do to buy and sell houses. It also includes commercial properties, leases, gifts under Wills, Government acquisitions, court-ordered transfers after bankruptcy or liquidation, or transfers from marriage break ups.
On the surface it may appear to be a simple process, however in reality it can be a legal minefield. The QLD Law Group will provide you with our renowned complete conveyancing service.
The QLD Law Group is a member of the Queensland Law Society and is fully insured under the Queensland Law Society Act.
Stamp Duty is a tax paid to the Queensland Government on the transfer of property in Queensland.
Some buyers do not have to pay Stamp Duty or pay a discounted Stamp Duty. To find out more click here.
When buying your first home for $500,000 or less you pay no Stamp Duty. However, if you have owned a house or unit before (even if you didn’t live in it) you will not get the exemption. Additionally, if you are buying a home with another person and it is not their first home you will get an exemption for your part of the home but they will have to pay normal duty on their part.
If you are buying a home for $350,000 or less Stamp Duty will be 1%. If you are buying a home with another person and it is not to be their home you will receive a concession for your part of the home but they will have to pay normal duty on their part.
To qualify for a Stamp Duty exemption or concession you need to:
- Move into the home within 12 months of settlement of the contract.
- Live in the home once you have moved in as your home.
- Tell us if you don’t move in, or if you do move in and move out within 12 months, so we can notify the Queensland Government so we can arrange the repayment of the duty or part of the duty. Penalties apply if the Queensland Government is not told.
- Ensure the home is approved as a home property (vacant land, commercial properties and caravans aren’t) by the local council.
- Sign a declaration telling the Queensland Government that you are being honest about the property being your home.
Typically, law firms leave you to deal with the confusing matter of stamp duty but not the QLD Law Group. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
If you do not already have the cash to pay for the property you will need a loan to help you.
There are many different companies that lend money, many different products and many different rates. It is a confusing and potentially costly process. The best deal for someone else may not be the best deal for you.
The QLD Law Group will help you get the deal that best suits you by directing you to a reputable loan broker; just click here.
When you borrow money, the lender takes a mortgage over the property you are buying (and sometimes other property you own). A mortgage is a charge on property securing the debt created by a loan. It gives the lender rights over the property, including the right to sell if you don’t pay the debt on time.
The QLD Law Group will give you written advice on the meaning and effect of the documents so you can proceed with a full understanding of the loan and assist you in the signing of the documents.
To calculate your likely loan repayments please use this Basic Repayment Calculator.
To prepare a budget to help you ensure you can afford the loan repayments please use this “How Much Can I Borrow?” Calculator.
Quite often homes are built or renovated without getting all the approvals needed by the local council, or are completed in a poor manner.
Problems can easily be unseen to the untrained eye, bad building practices, termite problems, water sewage and the like.
The QLD Law Group recommends that all contracts be subject to a building inspection, and preferably the buyers have the property inspected before signing a contract. The REIQ contract used in Queensland provides little protection against building problems.
The QLD Law Group will help you make sure there are no hidden problems, which you will have to pay to fix, by directing you to a local building inspector; just click here.
Once you sign an REIQ contract to purchase a property, it is at your risk at 5pm the next business day.
The QLD Law Group can arrange for a cover note of insurance to be issued by a leading Australian insurer as soon as we are retained by you and get a copy of the contract if you ask us to. Furthermore, this service is free and just another way that the QLD Law Group gives you the complete conveyancing service.
Buying your first home is tough, therefore the QLD Government is helping first home buyers who are buying or building a new home.
You may be entitled to this help if:
- You are buying your first home;
- The home hasn’t been previously occupied or sold as a place of residence;
- You are an Australian citizen or a permanent resident; and
- The home doesn’t cost more than the prescribed amount.
The QLD Law Group will help you get the grant and arrange for the grant to be paid to your lender so it can be used to help pay for your home.
If you would like more information on the grant and how to get it please visit the Office of State Revenue’s website for the first home owner’s grant.
The QLD Law Group understands that this may be your first time buying or selling a property so you may not have knowledge about what you have to do and how to go about it.
Due to this, the QLD Law Group has developed a number of guides and tips to help you with this transaction.
If you are buying a property, to read the Buyers Guide click here and to read a flowchart setting out the process click here.
If you are selling a property, to read the Sellers Guide click here and to read a flowchart setting out the process click here.
Remember that these are only guides and are designed to help you understand what you have to do and how you do that to deal with the property transaction. The guide may not apply to your transaction and if you have a specific query please click here.
If you are not an Australian Citizen or permanent resident then you will need approval by the treasury to buy a property.The QLD Law Group will help you get the Australian Government approval needed to buy the property.
Ordinarily a foreign person will be given approval to purchase new properties or undeveloped properties, subject to certain conditions. If the conditions are not met the Australian Government can force the sale of the property.
The REIQ contract contains a warranty that the buyer is not a foreign person who requires Australian Government approval to buy the property. A special condition must be inserted into the contract to protect you, the QLD Law Group can help you. Just click here.
If you want more information on foreign ownership in Australia simply visit the Foreign Investment Review Board website.
Typically, law firms leave you to deal with the confusing matter of Government approval, but not the QLD Law Group.
Track your property purchase and sale via our QLD Law Group app!
Be kept up to date with LIVE updates!
We know when it comes to buying and selling property that the dates and progress are of the utmost importance! Our aim is to take away any stress and anxiety that our clients may have through the process! We do this through our secure Property App! The app will track your conveyancing progress, tell you as important milestones are reached like finance and building/pest approvals, and will keep everyone, including the real estate agents, informed as each milestone is reached!
So simple, and just at the touch of a button!
Download our App on iOS or Android – or search the App Store or Google Play for ‘QLD Law Group’
There are a lot of conveyancing services all providing their own style of service.
Most give you a lot of information then leave it all to you. The QLD Law Group does it all for you either here at the click of your mouse, in person, or by mail and the phone. It is all so clear.
What is Conveyancing?
Conveyancing is the term used to describe the transfer of legal ownership of property.
Most people know it as what lawyers do to buy and sell houses. It also includes commercial properties, leases, gifts under Wills, Government acquisitions, court-ordered transfers after bankruptcy or liquidation, or transfers from marriage break ups.
On the surface it may appear to be a simple process, however in reality it can be a legal minefield. An accidental mistake could potentially put everything you own at risk.
The QLD Law Group will provide you with our renowned complete conveyancing service.
The QLD Law Group is a member of the Queensland Law Society and is fully insured under the Queensland Law Society Act.
Stamp Duty
Stamp Duty is a tax paid to the Queensland Government on the transfer of property in Queensland.
It is called Stamp Duty because in simpler times the duty was paid by fixing a stamp on the instrument of transfer.
Some buyers do not have to pay Stamp Duty or pay a discounted Stamp Duty. To find out more click here.
First Home Buyers Requirements Important Warning
If you are buying a home for $500,000 or less you pay no Stamp Duty. You must be buying your first home.
If you have owned a house or unit before (even if you didn’t live in it) you will not get the exemption.
If you are buying a home with another person and it is not their first home you will get an exemption for your part of the home but they will have to pay normal duty on their part.
Home Buyers
If you are buying a home for $350,000 or less Stamp Duty will be 1%.
If you are buying a home with another person and it is not to be their home you will receive a concession for your part of the home but they will have to pay normal duty on their part.
Requirements
To qualify for a Stamp Duty exemption or concession you need to:
- Move into the home within 12 months of settlement of the contract.
- Live in the home once you have moved in as your home.
- Tell us if you don’t move in, or if you do move in and move out within 12 months, so we can notify the Queensland Government so we can arrange the repayment of the duty or part of the duty. Penalties apply if the Queensland Government is not told.
- Ensure the home is approved as a home property (vacant land, commercial properties and caravans aren’t) by the local council.
- Sign a declaration telling the Queensland Government that you are being honest about the property being your home.
Important Warning
Remember it is an offence if you make a false declaration and don’t tell the Queensland Government the truth.
Typically, law firms leave you to deal with the confusing matter of stamp duty but not the QLD Law Group.
There is no fee payable to the QLD Law Group by you to the QLD Law Group for this service. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
Get a Loan
If you do not already have the cash to pay for the property you will need a loan to help you.
There are many different companies that lend money, many different products and many different rates. It is a confusing and potentially costly process. The best deal for someone else may not be the best deal for you.
The QLD Law Group will help you get the deal that best suits you by directing you to a reputable loan broker; just click here.
The QLD Law Group will, if permitted by the lender and the Consumer Credit Act, arrange for the loan documents and the mortgage to be sent to it.
When you borrow money, the lender takes a mortgage over the property you are buying (and sometimes other property you own). A mortgage is a charge on property securing the debt created by a loan. It gives the lender rights over the property, including the right to sell if you don’t pay the debt on time.
The QLD Law Group will give you, if you want, a written advice on the meaning and effect of the documents so you can proceed with a full understanding of the loan and assist you in the signing of the documents.
Loan Repayments
To calculate your likely loan repayments please use this Basic Repayment Calculator.
To prepare a budget to help you ensure you can afford the loan repayments please use this “How Much Can I Borrow?” Calculator.
There is no fee payable to QLD Law Group by you for this service. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
Building Inspections
Quite often homes are built or renovated without getting all the approvals needed by the local council, or are completed in a poor manner.
Problems can easily be unseen to the untrained eye, bad building practices, termite problems, water sewage and the like.
The QLD Law Group recommends that all contracts be subject to a building inspection, and preferably the buyers have the property inspected before signing a contract. The REIQ contract used in Queensland provides little protection against building problems.
The QLD Law Group will help you make sure there are no hidden problems, which you will have to pay to fix, by directing you to a local building inspector; just click here.
Typically law firms leave you to deal with the confusing matter of building inspections, but not the QLD Law Group.
There is no fee payable to QLD Law Group by you for this service. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
Get Insurance
Once you sign an REIQ contract to purchase a property, it is at your risk at 5pm the next business day. Most people don’t know this. You are responsible for something you don’t even own yet!
The QLD Law Group can arrange for a cover note of insurance to be issued by a leading Australian insurer as soon as we are retained by you and get a copy of the contract if you ask us to.
Typically, law firms leave you to deal with the confusing matter of insurance, not the QLD Law Group.
There is no fee payable to QLD Law Group by you for this service. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
Get The First Home Owner Construction Grant
Buying your first home is tough. It is hard to save the deposit so the QLD Government is helping first home buyers who are buying or building a new home.
You may be entitled to this help if:
- You are buying your first home;
- The home hasn’t been previously occupied or sold as a place of residence;
- You are an Australian citizen or a permanent resident; and
- The home doesn’t cost more than the prescribed amount.
The QLD Law Group will help you get the grant and arrange for the grant to be paid to your lender so it can be used to help pay for your home.
If you would like more information on the grant and how to get it please visit the Office of State Revenue’s website for the first home owner’s grant.
Typically, law firms leave you to deal with the confusing matter of the first home owner construction grant, not the QLD Law Group.
There is no fee payable to QLD Law Group by you for this service. It’s free and just another way that the QLD Law Group gives you the complete conveyancing service.
Helpful Guides
The QLD Law Group understands that this may be your first time buying or selling a property so you may not have knowledge about what you have to do and how to go about it.
The QLD Law Group wants to help you understand what you have to do and how you are to do it so that the whole process is clear for you.
The QLD Law Group will give you the QLD Law Group Difference and make the transaction easy, stress free and enjoyable.
The QLD Law Group has developed a number of guides and tips to help you with this transaction.
If you are buying a property, to read the Buyers Guide click here and to read a flowchart setting out the process click here.
If you are selling a property, to read the Sellers Guide click here and to read a flowchart setting out the process click here.
Remember that these are only guides and are designed to help you understand what you have to do and how you do that to deal with the property transaction. The guide may not apply to your transaction and if you have a specific query please click here.
Foreign Investment In Australia
If you are not an Australian Citizen or permanent resident then you will need approval by the treasury to buy a property.The QLD Law Group will help you get the Australian Government approval needed to buy the property.
The Australian Government regulates the ownership of property in Australia by foreign persons.
Ordinarily a foreign person will be given approval to purchase new properties or undeveloped properties, subject to certain conditions. If the conditions are not met the Australian Government can force the sale of the property.
The REIQ contract contains a warranty that the buyer is not a foreign person who requires Australian Government approval to buy the property. A special condition must be inserted into the contract to protect you, the QLD Law Group can help you. Just click here.
If you want more information on foreign ownership in Australia simply visit the Foreign Investment Review Board website.
Typically, law firms leave you to deal with the confusing matter of Government approval, but not the QLD Law Group.
Agents
The QLD Law Group recognises that real estate agents play an integral role in conveyancing.
Agents too benefit from the QLD Law Group complete conveyancing service by:
- Being kept informed of the progress of the matter.
- Cooperating with agents to ensure no unnecessary problems arise.
- Being immediately informed of any action needed to help smooth the conduct of the conveyance.
- Dealing with a conveyancing service that is committed to providing the best service.
- Keeping agents it deals with regularly updated with any changes affecting conveyancing, property or agents.
- Being able to contact the QLD Law Group any time to receive help with the preparation of contracts and matters generally
Registered agents can get access to the QLD Law Group’s complete agent support service including:
- Direct access to a lawyer at all times.
- Preferential response and assistance to all queries.
- Free professional fee for the conveyance of their own home.
- Access to update online special conditions.
- Free updates on changes to matters affecting real estate agents.
- Free seminars at your office for your sales staff.
- A lawyer to address any public seminar arranged by you free of charge.
- The confidence of knowing anyone referred to the QLD Law Group will receive a complete conveyancing service.
The QLD Law Group is not the typical conveyancing service
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