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Queensland is a buyer beware State which means you generally will provide less disclosure to a potential buyer then you would in some other States. This does not mean there is no requirement to disclose anything to a buyer when you sell however and you should speak to a solicitor before you sell to make […]

General conditions are the conditions that you will see most frequently on all standard contracts. They are the terms that are contained in the standard Real Estate Institute of Victoria (REIV) contracts and will generally be sufficient to cover for all standard residential sales. However, you should also ask your conveyancing lawyer what special conditions […]

It is up to you how much deposit you want to ask for but generally it will not be higher than 10% of the purchase price. However, you should still ask for a deposit from the buyer to be paid upfront as security over the sale. If the buyer signed the contract, paid the deposit, […]

A certificate of title is an original document that is issued to the owner of a real property that confirms their ownership of the property. You will need to have in your possession this document for any proposed dealings with the title to the property, such as to mortgage or transfer your title. If you […]

The information that needs to be disclosed in the section 32 includes: Surprisingly not all owners of land would know all the information about the property, depending on how they have been using the property. For example, if you have only ever purchased the property to live in and have not made any renovations or […]

When you are selling your property, you will need to understand your obligations to disclose sufficient information to your buyers, so that they are kept informed. If you do not fulfil your disclosure obligations, then you will be giving your buyers an opportunity to walk away from the contract even after they have signed it. […]

Verification of identity is a legislatively required process that all conveyancing lawyers must require their clients to complete to confirm their identity as a part of the electronic conveyancing process. The conveyancing lawyers is required to then hold on their records the relevant report created for up to seven years after the transaction is complete. […]

Client authorisation form is a form that is required to be completed by the parties relevant to the transaction, authorizing their conveyancing lawyers to conduct the transaction for them. You will need to arrange for the form to be signed and witnessed by an authorised identity agent. The agent can be a member of Australia […]

Property Exchange Australia (PEXA) is an electronic lodgement and network operator that operates an electronic settlement platform. You pay them a small fee for the service of hosting the settlement on their platform. Due to recent cascading law changes in a several states, settlements being complete on PEXA is now mandatory in states like Victoria, […]

The section 27 statement is an instrument allowed by legislation for the seller to access their deposit prior to settlement if they are able to satisfy certain criteria. This statement is drafted by the seller’s conveyancer and served on the buyer’s conveyancer. If the buyer does not have reasonable grounds to object to the release, […]