in association with

Conveyancing

The conveyancing process in Queensland is different from other states and it is important that you have the experienced professionals at SPM Law looking out for your interests for both residential and commercial properties.

The SPM Law team are registered for e-conveyancing through PEXA - Property Exchange Australia

E–conveyancing - how does it work?  In simple terms, all parties to a transaction (seller, outgoing bank, buyer and incoming bank) can log into a secure location on the PEXA platform.  The parties solicitors enter all the details of the property (address and title particulars, names of parties, price and who cheques are to be made to etc) into PEXA.  All parties get the opportunity to check the details and sign off confirming they are in order.  Once everything is agreed and the appointed settlement time occurs – then the Titles Office immediately processes the transfer into the buyer’s name and the banks simultaneously make and receive payment.

The main benefit of using PEXA is that the process is so much faster with real time lodgement and settlements.  There is no longer a need to wait for cheques to clear (which can be 3 days or more) as everything is now done as one electronic transaction.  Settlement money is deposited straight into the sellers account – usually within 30 minutes.

Buying a Property

Generally, the agent or the seller’s solicitor prepares a contract.  Provided the terms are satisfactory to the buyer, the buyer then signs the contract and associated documents and makes an offer to the seller.  Again, provided the terms are satisfactory to the seller, the seller then signs and dates the contract.

It is critical that you involve us as early as possible.  While the standard terms cover most aspects it will not deal with particular issues for that property or your own individual circumstances. There is no “exchange” of contracts in Queensland.

For more detailed information regarding the process of buying a property and answers to frequently asked questions such as; should my contract be subject to finance? Are there cooling off periods? How does an auction work?, please click here.

Transfer Duty

Transfer (or stamp) duty is generally payable on the earlier of 30 days from the contract date or 30 days after the contract becomes unconditional.  In certain circumstance this can mean that duty can be paid before the settlement date.  In these circumstances, buyers should make sure that they have sufficient funds to pay both the deposit and transfer duty prior to settlement and without relying on finance.

Click here for more information and a transfer duty schedule.

Searches

After the contract has been signed SPM Law carries out all of the searches recommended by the Queensland Law Society and in certain cases additional searches.  Costs range from between $500 and $1000 depending on the property being purchased (land, house or a unit).  Searches are charged at cost.  That is, SPM does not charge anything additional to carry the search out. 

Costs

So the main question?  How much will this cost? This will depend on a number of factors including the type of property and its location – please click here.

Selling a Property

The key to selling a property is to be prepared. If you want to have a successful sale, having a contract ready for signing before the buyer is found is a vital key.

Generally, the agent or the seller’s solicitor prepares a contract. Provided the terms are satisfactory to the buyer, the buyer signs the contract and associated documents and makes an offer to the seller.  Again, provided the terms are satisfactory to the seller, the seller then signs and dates the contract. It is critical that we be involved at the earliest stages of your transaction.  While the standard terms cover most aspects, it will not deal with particular issues for that property or for your own individual circumstances.

For more detailed information regarding the process of selling a property and answers to frequently asked questions such please click here.

Costs

So the main question?  How much will this cost? This will depend on a number of factors including the type of property and its location – please click here.

Meet our Conveyancing Team

Contact us For More Info


Go Back

Services


Retirement Living

According to the Property Council of Australia, in 2014, there were more than 2300 retirement villages in Australia and around 184,000 seniors living in retirement villages. However that figure is expected to double with some predicting as many as 382,000 people will be living in retirement villages by 2025.

View All News