Conveyancing
Conveyancing is the legal process of transferring the ownership of property from one party to another. When you buy or sell property you are dealing with a large financial asset – possibly the biggest financial transaction you will make. Conveyancing involves some risk and strict time limits. Getting advice from a professional is important to protect your interests.
We are a family-run business with over 40 years of experience in conveyancing, providing personalized service and expert guidance. Our highly experienced property conveyancing lawyers in Northside, Brisbane, are always working hard to make sure they can help with all your Queensland conveyancing needs. We manage each transaction with meticulous care and attention, placing high value on communicating with our clients and advising them throughout every stage of their property journey so they can make informed decisions. Our team is overseen by a qualified solicitor, ensuring that each transaction is managed with the highest level of care, precision, and legal oversight.
We can assist with:
- Residential, strata, and rural sales and purchases
- Reviewing and advising on contracts for sale of land
- Auction sales and purchases
- Off-the-plan sales and purchases
- Commercial property transactions
- Mortgages and refinancing
- First home buyers
- Property transfers
Buying and Selling Property in Queensland
Buyers
If you are buying property, we recommend having the contract reviewed before signing it, and carrying out thorough due diligence. Apart from some exceptions (for example, properties bought at auction), buyers of residential property in Queensland will have a cooling-off period which allows them to rescind (cancel) a contract within five business days of signing it. The cooling-off period enables purchasers to ensure the property meets their expectations. During this period, they may carry out additional investigations like obtaining pest and building reports and checking on formal finance arrangements, although sometimes these matters may be included as special conditions in the contract itself. If exercising a cooling-off right, a buyer will forfeit 0.25% of the purchase price.
Sellers
The decision to sell a property, whether a family home or investment, is a big one and may come about due to major personal or financial events. We can assist with all aspects of your sale transaction.
Your agent will usually draft the contract which provides a description of the property being sold and outlines the terms and conditions of the sale as well as any special conditions. Certain disclosures must be included when preparing the contract and, as each property is different, you should obtain advice specific to your property and circumstances.
Property Searches
Property searches and enquiries play a critical role in the conveyancing process. These searches provide additional information about the property and can flag potential issues or encumbrances that may affect it such as easements, caveats, or outstanding rates. They help ensure that the property can be transferred free from undisclosed interests or liabilities.
Getting Ready for Settlement
As settlement approaches, sellers should take care of practical matters such as disconnecting utilities and other services. Buyers have the right to conduct a final inspection shortly before completion to ensure the property is clean, vacant, and free of any personal belongings or items not included in the sale.
Completing the Conveyancing Transaction
The settlement process marks the final stage of the conveyancing journey, where the official handover of property ownership takes place. This involves the exchange of legal paperwork, payment of the agreed purchase price, and the official registration of the ownership transfer.
The settlement statement sets out the funds the buyer needs to provide on completion, taking into account the purchase price, the deposit held by the agent, and any relevant adjustments such as council rates, water rates, or strata fees.
Today, most settlements have transitioned to a digital platform which streamlines the entire conveyancing process. E-conveyancing enables legal professionals and financial institutions to submit documents and finalise settlements online, providing greater convenience and faster access to cleared funds.
The Importance of Professional Advice
Conveyancing requires a sound knowledge of contract and property law, and a thorough understanding of the regulatory framework and processes involved in transferring real estate. The complexity of a conveyancing transaction is often underestimated, and while most go smoothly, some encounter unexpected challenges.
Failing to fulfil a binding contract can have serious consequences and the financial implications of buying a property with hidden flaws or neglecting to disclose necessary information when selling can turn a simple transaction into a costly exercise.
Whether you’re buying, selling, or investing, handling a conveyancing transaction without professional guidance poses significant risks. Our goal is to alleviate as much stress as possible by keeping you informed, answering your questions, and providing expert support throughout the entire journey.
If you need assistance, contact one of our lawyers at [email protected] or call 07 3350 4417.