This information has been provided by
Australian law firm, Australian Conveyancing Services and is applicable in Queensland
only.
In Australia the whole legal transaction of buying/selling a property is called ‘Conveyancing’. The law sees the transfer of ownership in a property as important, and there is a process that must be followed by the Seller and the
Buyer.
This process is normally more involved for the Buyer than the Seller. The Buyer has to make sure that the Title to the property is clear and this is an important task, as it involves doing various searches of the property. Also the Buyer is responsible for drafting up the transfer documentation and stamping it, as well as organizing their finances.
The things that you as a Buyer will do as part of a normal conveyance for Queensland property includes:
Entering into a Contract
of Sale. You need to ensure that any special conditions
that you need in the Contract are inserted. Normally the
Real Estate agent will draft up the Contract for the
parties, but it is always advisable to get a Lawyer to
look over the Contract before you sign
If you are doing your Conveyance through Legalmart, a
Lawyer will look over your Contract as part of the price
of the service for you
Fulfilling the Buyer
conditions that are included in your contract. For
instance, Building or Pest inspection reports, and finance
Talking with your
Financier to make sure you get any moneys you are
borrowing by the settlement date, and signing mortgage
documents
Arranging the necessary searches over the property
Drafting the transfer
documents
If you are thinking about
buying a property, please consider using our online conveyancing service. The service is fully interactive and includes full information on how to arrange the above requirements.
For more information, click
here.
If you are using the Legalmart conveyancing service, our award winning program drafts the documents for you, and they are checked by your Lawyer Support as part of the service.
Stamping the transfer
documents
Attending at settlement
to hand over the balance purchase price and to get various
documents you need to transfer the ownership (if you have
a Financier, they will attend at settlement as well and
take these documents on your behalf)
Go to the Titles Office
and lodge your documents for registration of the transfer
of ownership (if you have a Financier, they will do this
on your behalf)
