Conveyancing

If You Are Buying Or Selling A House Our Conveyancing Team Can Help

How We Help Our Conveyancing Clients

Buying

Buying a property is one of the most expensive assets that you will purchase throughout your life. You need to make sure that your interests in such an expensive asset are protected and that you are getting what you pay for.

At Smithson Lawyers Gold Coast we make sure an experienced Property Lawyer handles your conveyancing. Although, you get the experience of a qualified Property Lawyer to handle your matter our fees are equivalent to conveyancing fees.

Contact Smithson Lawyers Gold Coast today for a free fixed quote.


Conveyancing Process

Signing The Contract

Whether you are buying or selling a property, the first and most important step in the conveyancing process is negotiating and signing the Contract.

It is recommended that before you sign the Contract, our expert lawyers check over the terms of the Contract to make sure that there are no hidden issues.

So before you sign anything, ask the Real Estate Agent involved to send the Contract to us. We will have one of our expert lawyers go over the Contract with you before you sign to make sure you know what you are getting into.

Once the Contract is signed by both parties, it will be dated and it will then become an enforceable Contract.

Conditions

Often Contracts will have a number of conditions, including:

  1. Cooling Off Period

    This is normally 5 days from the Contract Date and is for the benefit of the Buyer only. If the Buyer wishes to terminate under the Cooling Off Period there is normally a penalty amount they will need to pay (around 0.25% of the purchase price).

  2. Subject to a Pest and Building Inspection

    If the Contract is subject to a Pest and Building Inspection, the Buyer will need to arrange and conduct such inspections by the Inspection Date listed in the Contract. If they are not satisfied with those inspections then generally they may terminate the Contract by the Inspection Date and will receive a refund of any deposit monies.

    Council Inspections, Flood Inspection and Contaminated Land Searches or any other enquiries a Buyer has about the property should be conducted during the Pest and Building period.

  3. Subject to Finance

    If the Contract is subject to Finance, the Buyer will need to apply for finance and advise the Seller whether it is has obtained suitable finance by the Finance Date. If the Buyer is unable to obtain suitable finance by the Finance Date then the Buyer may generally terminate the Contract and the deposit monies will be refunded.

    Once all the conditions in the Contract have been satisfied, the Contract becomes unconditional and will then proceed to settlement.

Searches

When acting for the Buyer, Smithson Lawyers Gold Coast will conduct our standard searches on the Property which will include:

  • Title Search
  • Department of Transport Search
  • Rates Search
  • Water Search
  • Land Tax Search
  • Check Title Search
  • Priority Notice

Stamp Duty

In Queensland, all Buyers are required to pay Government Stamp Duty. Smithson Lawyers Gold Coast will ensure that the required stamp duty is paid on the Contract and Transfer and will ensure that any discounts are applied, such as First Home Duty Exemptions or Home Discounts.

Settlement

At Settlement we will ensure that the Property is transferred to the Buyer in exchange for the Buyer paying the purchase monies.

We will also ensure that any Mortgages over the Property are released and the Property is registered into the new Buyer’s name.

Settlement generally occurs around 30 days after the Contract is signed (but can be whatever date both parties agree to in the Contract).

Contact Us Today

Contact our experienced Property Law team today so that we can help make your Purchase or Sale a simple and easy process.


Selling

Selling a property can be a stressful time. You don’t need the added pressure of having to worry about your conveyance. At Smithson Lawyers Gold Coast we make sure that all your selling needs are met.

Your matter will be handled by an experienced Property Lawyer. Although you get the experience of a qualified Property Lawyer to handle your sale, our fees are equivalent to conveyancing fees.

Contact Smithson Lawyers Gold Coast today for a free quote.


Transfer Duty Fees

When buying a house, unit or land in Qld all buyers are required to pay Stamp Duty to the State Government. This fee is not retained by us but rather is paid directly to the State Government.

The amount of transfer duty that a buyer will be required to pay depends on a number of considerations, including:

  • The purchase price.
  • Whether the buyer intends to live in the property for a period of 12 months.
  • If this is the first home the buyer has purchased and if so, whether the value of the property exceeds $549,999.99.

Below is a general guide on how much stamp duty you may be required to pay if you buy a property in Queensland. You should, however, contact Smithson Lawyers Gold Coast to ascertain exactly how much stamp duty you will be required to pay.

For further information on stamp duty you can also visit the Queensland Treasury website at:

www.treasury.qld.gov.au/taxes-royalties-grants/duties/

Purchase Price Transfer Duty Payable for Investment Property Transfer Duty Payable for Home Owner Transfer Duty Payable for First Home Buyer
$100,000.00 $1,925.00 $1,000.00 $0
$200,000.00 $5,425.00 $2,000.00 $0
$300,000.00 $8,925.00 $3,000.00 $0
$400,000.00 $12,425.00 $5,250.00 $0
$500,000.00 $15,925.00 $8,750.00 $0
$600,000.00 $20,025.00 $12,850.00 $12,850.00
$700,000.00 $24,525.00 $17,350.00 $17,350.00
$800,000.00 $29,025.00 $21,850.00 $21,850.00
$900,000.00 $33,525.00 $26,350.00 $26,350.00

Don't Get Caught Out

Let Our Experienced Lawyers Check Your Contract Before You Sign

Buying or Selling Property can often be the largest asset you will ever deal with. It is essential that you have an experienced conveyancing team handle your matter. Smithson Lawyers Gold Coast is an established Gold Coast Firm that has been handling conveyancing matters since 2003.

We can make sure that your matter progresses to settlement with no issues. We pride ourselves on being cost effective and you won't be charged for things like photocopying, phone calls etc. like many firms do.

Call us today for a free quote

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