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A settlement statement is basically a statement that contains all the apportionment of outgoings and liabilities attached to the property and required by the contract to be adjusted. The items that are usually included in the settlement statement are mortgage discharge fees, rates, water charges, body corporate levies, rent, etc. The information that is needed […]

Registration fee is a type of government charge passed onto the consumer by the titles registry offices for the service in registering your interest over a property in their registers. Each State has their own land registry that administers their own land registers. Each land registry will have different fees for the registration of different […]

Stamp duty is a form of tax that is determined by the state government so the rules will vary depending on which state that you are purchasing in. In Queensland, the stamp duty is assessed and payable on 30 days from the Contract date or the Contract unconditional date. You need to account for the […]

Stamp duty is a form of tax that you pay to the government for getting an interest in the land. In other words, it is a form of tax that you must pay if you are a buyer. The stamp duty is assessed based on the value of your land, the more expensive the purchase […]

Purchasing to live in If you are purchasing for the purpose of moving in, then you’ll need to work out what the lease term is and when it is going to end. A tenancy will not automatically come to an end at the lease term, notice will need to be served on the tenant for […]

Searches or property searches are a series of certificates that your conveyancing lawyer can order for you to verify information disclosed to you by the seller, or to obtain further information that is not required by the seller to disclose. These searches are necessary to complete your due diligence of the property. Some searches will […]

A title search is an extract of information from the Titles Registry on any real property. The title search will contain information on who the owner is, when it was last transferred, title reference details, encumbrance details, etc. The title search is an important search because it is a simple and quick, yet powerful tool […]

The deposit is an amount that is used as security for the seller, hence it is always in the seller’s best interest to ask for a larger amount, whereas the buyer may not want to put too much down upfront. Strictly speaking it is something that is up for negotiation between the parties. However, it […]

The deposit is the down payment that you make when you first sign a contract to show that you are genuine about purchasing the property. It is the seller’s security that if you do not complete the contract on time by settlement date, that they can take steps to claim your deposit. Hence, before you […]

Residential property law is a State specific area of law, which means that the process of conveyancing will also differ between States. It is important when buying a property in Queensland, that you look for information relevant to Queensland rather than any other States. This can be a little difficult to differentiate, especially if you […]