Conveyancing simply means the transfer of the legal ownership of property from one person to another. While this sounds simple, conveyancing is actually a very complex and involved process, filled with conditions and deadlines. Conveyancing in Queensland is governed by over 20 pieces of State and Federal legislation.

Our solicitor will guide you through the conveyancing process ensuring your legal rights are protected and your obligations are met.

Buying or selling property is one of the biggest financial transactions of your life. Due to the financial and legal aspects of transferring property, the consequences of making a mistake can be costly and disastrous.

A qualified and experienced solicitor can take care of your property transfer and protect your assets.

Our solicitor has an in-depth understanding of the law concerning property transactions and can offer you their experience on other matters related to your property transaction that may arise.

A cooling off period is the purchaser’s right to cancel the agreement within 5 working days without having to provide a reason. It offers some protection to purchasers that may have rushed into a contract to purchase property. Cancelling the agreement will cost the purchaser 0.25% of the total purchase price. The ‘cooling off’ period starts on the day you receive the fully executed Contract, signed by both you as buyer and the seller.

The cooling off period does not always apply (at auction, for example) and can be waived.

We strongly recommend coming to see us before you sign a Contract. We will take the time to review the Contract and advise you of your obligations. At this time you can also advise us of any concerns you have about the property so we can conduct any necessary searches required. Remember – we offer FREE pre-contract review.

You are not required to attend settlement, as we will do this on your behalf. We will discuss the settlement process with you in more detail once your contract becomes unconditional.

The Contract becomes ‘unconditional’ when all the relevant conditions (i.e. finance/inspections) have been satisfied. The only step remaining in the conveyancing process at this point would be settlement.

Settlement is the finalisation of the sale or purchase process. There are usually four parties involved – the buyer and sellers’ solicitors or conveyancers and the banks for the vendor and purchaser.

On settlement, the purchaser’s bank will exchange cheques as per the instructions of the buyer’s solicitor or conveyancer and in return, receive the Certificate of Title and ‘discharge of mortgage’ (if applicable) from the seller’s bank.

Once the settlement date arrives, the keys can be handed over to the purchaser. The deposit is released by the deposit holder (usually the agent) to the seller or as directed by the seller. At this stage, the buyer’s bank registers the change of title and mortgage, and notifies authorities (such as the water company) of the change.

When your transfer papers are lodged for registration after settlement, the council, office of state revenue and water providers are automatically notified of the new purchase. Other providers, however, will need to be notified.

Transfer duty (or stamp duty) is a tax paid to the State Government upon the transferring of ownership in property. It is payable by the buyer of a property and the amount to be paid is determined by the purchase price of the property. Depending on whether you are buying a house to live in, or as an investment the amount of transfer duty payable will also differ. There are also concessions available to first home buyers in Queensland.

We have experienced property lawyers to manage the conveyancing process for you. Our team is equipped with the skills to handle any legal problem that arises and protect your interests while ensuring the process stays on track.