buying property

Stamp duty concession QLD refers to government measures that can reduce the transfer duty you may need to pay when buying property. These concessions are usually linked to how the property will be used, such as whether it will be your home, your first home, or vacant land intended for construction. The purpose is to […]

Refinancing your home loan or paying out your mortgage may sound simple, but there’s often more involved than people expect. Whether you’re switching lenders for a better rate or you’ve finished paying off your loan, the legal side needs to be handled correctly. That’s where refinancing and mortgage conveyancing plays an important role. In Queensland,

Many Australian homeowners ask: “Can a buyer take over my mortgage?” The short answer is that mortgage assumption–where a buyer directly takes over a seller’s existing home loan–is generally not permitted in Australia due to strict lender policies. Most lenders include a “due on sale” clause in mortgage contracts, requiring the loan to be fully

Many people ask if you buy a house with tenants can you kick them out NSW. The short answer is: not straight away. When you buy a property that someone is already renting, you take on the same job as the landlord before you. That means the tenant keeps living there until their lease finishes

Home warranty insurance is a legal requirement in many residential property transactions across Australia, particularly when recent building or renovation work has been carried out. But when do you need home warranty insurance exactly? The answer depends on the type of work done, who did it, the value of the work, and how recently it

When dealing with property in Australia, understanding the legal language used in contracts and titles is essential. One important term you’re likely to come across is encumbrance. So, what is an encumbrance? An encumbrance is a legal claim, right, or interest that affects a property and may limit how it can be used or transferred.

When a property is sold in Australia, one of the most important things to check is whether it is subject to any encumbrances. An encumbrance is a legal right or interest held by someone other than the property owner, which can affect how the property is used, sold, or transferred. Common examples include mortgages, caveats,

Buying or selling a property is a big step. Whether you’re the buyer or the seller, there are legal tasks that must be done properly for the transfer to be successful. These tasks are part of a process called conveyancing. It may look similar on both sides, but conveyancing for buyers and conveyancing sellers in

When buying property in Australia, one of the first decisions you will face is whether to make a conditional offer or an unconditional offer. This choice can affect your legal rights, your ability to secure finance, and even your chances of buying the property. A conditional offer means your purchase depends on certain conditions being

Bidding at a house auction is a big step. Once the hammer falls and your bid is the highest, things move quickly. But what if something goes wrong and you can’t follow through with payment? This situation can lead to serious problems. In Australia, winning a property at auction is a binding commitment, and not

When you’re buying or selling property in Queensland, a trust account is often used to safely hold money during the transaction. These accounts make sure funds are managed properly and give everyone peace of mind while contracts are being finalised. In most property deals, especially when handled by a real estate agent or lawyer, a

When you purchase a house in Australia, you might find that the property already has tenants living in it. This raises a big question: if you are buying a house with tenants, can you kick them out?  Simply put, you are not automatically allowed to evict them. Australian tenancy laws are designed to protect tenants’

If you’re thinking about buying a townhouse, one important consideration is whether you’ll need to pay body corporate fees. In Australia, body corporate fees (also called strata fees) apply to properties with shared spaces, like driveways, gardens, or pools. For townhouse developments, these fees are often required, but not always. The answer depends on the

Understanding the timeline for buying a house is essential for anyone planning to purchase a property in Australia. From saving a deposit to finalising settlement, the process involves multiple steps, each with its own time requirements. A clear timeline helps you prepare for what’s ahead, avoid delays, and feel confident as you move through each

Purchasing a block of land with plans to build later offers a flexible path to homeownership. It allows for a thoughtful approach to creating a property that meets your specific needs while taking advantage of the vibrant opportunities in the region.  This option is especially appealing for those seeking to secure land in desirable locations

Australian interest rates are sitting higher than in previous years, leaving many potential home buyers wondering: is it better to buy a house when interest rates are high? While it may seem like a good idea to wait until rates drop, there are some compelling reasons why buying now could be a smart move. High

When buying a home, most buyers expect to receive the keys only after settlement, the final stage when ownership officially changes hands. However, there are situations where a buyer may need to access the property earlier. This is known as early access to property before settlement, a special arrangement that allows buyers to enter or

When purchasing a property in Queensland, home insurance before settlement is a critical but often overlooked part of the process. The standard contract in Queensland typically transfers the risk of damage to the buyer immediately after the contract is signed, not at the point of settlement. This means that even though you haven’t officially taken

Using equity to buy property is a popular method in Australia, allowing homeowners to leverage the value they’ve built up in their current home to purchase another property. Equity refers to the difference between the market value of your home and the balance of your mortgage. When you use equity to buy property, you’re essentially

When buying a house in Australia, the deposit is typically due when the contract of sale is signed. This can either be on the same day or within a few business days, depending on the agreement with the seller. If you’re purchasing at auction, the deposit is due immediately after winning the bid. Understanding when

Buying a property at auction can be thrilling, but it also involves strict rules, especially regarding the auction settlement period in QLD. In Queensland, the settlement period refers to the time between signing the contract after winning the auction and the official transfer of ownership. This period is usually 30-90 days, giving buyers and sellers

Property tax is a fundamental cost for Australian property owners, but it’s often misunderstood. Whether you’re buying your first home or managing multiple investments, understanding property tax is key to budgeting and making informed decisions. In Australia, property tax can include state-based land tax, council rates, and other levies that vary by property type and

When buying a house in Queensland, conducting essential property searches is crucial to avoid unexpected issues and ensure a secure purchase. Each search plays a key role in verifying the property’s legal status, financial obligations, and potential restrictions that may affect your ownership and future plans. From confirming the property’s title to understanding zoning rules

Property arrangements require a clear understanding of the terms and conditions involved. A licence agreement to occupy property is a crucial contract that allows you to use a space temporarily without granting the full rights typically associated with leases. This introduction will discuss the essentials of licence agreements, helping you grasp their implications and ensure

Exclusive possession plays a crucial role in various legal contexts. From property disputes to tenancy agreements, understanding this is vital for protecting your rights. In this blog post, we’ll discuss the intricacies of exclusive possession. We’ll explore what it entails, how it’s established, and the potential consequences of its violation. Whether you’re a homeowner, tenant,

When considering investing in real estate, purchasing property under a trust in Queensland offers numerous advantages. This method not only provides significant tax benefits but also ensures greater asset protection. In this introduction, we’ll explore how setting up a trust can streamline estate planning and potentially shield your investments from legal uncertainties. Whether you’re a

Strata properties dominate the Australian housing landscape, including apartments, townhouses, and units. Their appeal lies in affordability, convenient locations, and shared amenities. However, buying a strata property comes with unique considerations. This comprehensive guide explores the ins and outs of purchasing strata in Australia, providing crucial insights for informed decision-making. Understanding Strata Property When you

The dream of owning a home is a common one, but in Australia’s bustling cities, apartments often become the more accessible option. However, apartment living comes with its unique set of advantages and disadvantages. In this comprehensive guide, we’ll delve into the pros and cons of buying an apartment in Australia, helping you make an

Entering into a house contract in Queensland is a significant step that requires due diligence and careful consideration. This guide will walk you through the essential checks and balances that are crucial for protecting your interests and ensuring that your investment is both safe and sound. Understanding the Contract of Sale The contract of sale

The Australian housing market is a battlefield. Whether you’re a first-time homebuyer or a seasoned investor, mastering the art of negotiation can save you thousands, if not tens of thousands of dollars.  This comprehensive guide will arm you with the knowledge and tactics you need to confidently negotiate and secure your dream home in 2024

The Australian housing market remains a hot topic, with interest rates fluctuating and property prices in constant flux. For aspiring homeowners, securing a pre-approval for a home loan can be a game-changer, offering a clear budget and a competitive edge. But what does the pre-approval process entail, and how can you maximise your chances of

Queensland’s housing market is buzzing with renewed excitement as the state government’s First Home Owners’ Grant (FHOG) continues to make waves. This generous financial boost is helping thousands of Queenslanders achieve their dream of homeownership. Let’s dive into the details of this game-changing grant, eligibility requirements, and how you can make the most of this

In the competitive Australian property market, due diligence is key for buyers. Two essential reports often come into play: the strata report and the building inspection. But what’s the difference, and which one do you really need? This comprehensive guide dissects the nuances of each report, helping you make an informed decision when investing in

The thrill of finding your perfect home can quickly turn to heartache if hidden problems surface after you’ve signed the contract. In Australia, where property prices are soaring, a pre-purchase house inspection isn’t just a good idea—it’s essential. Imagine discovering major structural issues, pest infestations, or faulty wiring AFTER you’ve moved in. These nightmares can

The Queensland property market has long been attractive to foreign investors. However, the state government’s Additional Foreign Acquirer Duty (AFAD) has added a layer of complexity for overseas buyers looking to invest in residential property. As of July 1, 2024, the AFAD rate in Queensland has increased from 7% to 8%. This means foreign acquirers

Purchasing a house in Queensland (Qld) involves several costs beyond the listing price. Prospective homeowners need to be aware of these expenses to plan their budget effectively. In this article, we will explore the various costs associated with buying a home in Queensland, including recent legislative changes that could impact these expenses. Stamp Duty Changes

Purchasing a house is a significant milestone, and in Queensland (QLD), it comes with its unique set of considerations. From location decisions to understanding new legislation, here’s what you need to know when buying a house in this vibrant state. The Current State of the Housing Market As of 2024, QLD’s housing market is experiencing

The decision between urban and rural living continues to be a significant choice for potential homeowners. Each setting offers unique benefits and challenges, especially when it comes to purchasing property. This guide explores these environments in depth, helping you make an informed decision tailored to your lifestyle and needs. Urban Living Urban areas are often

Australia’s dynamic real estate market offers unique avenues for savvy investors, including strategically purchasing repossessed properties. While this specialised sector presents compelling advantages, success hinges on understanding the intricacies of the process, potential challenges, and optimal strategies for value maximisation. This comprehensive guide equips potential buyers with the knowledge needed to make informed decisions in

Property investment remains a compelling option for individuals seeking long-term financial growth. It offers potential income, asset appreciation, and tax incentives, but it is not without challenges. Whether you are entering the market for the first time or expanding your portfolio, understanding both the upsides and the risks is key to making informed choices. Investors

North Lakes, a suburb located in the Moreton Bay Region of Queensland, Australia, has garnered attention as a potential hotspot for property investment. Situated approximately 26 kilometers north of the Brisbane CBD, North Lakes offers a blend of residential charm and commercial vigor, making it a compelling consideration for investors and homeowners alike. The Appeal

Buying a foreclosed property in Queensland can present a cost-effective path to homeownership, especially for buyers willing to take on extra due diligence. These properties are often sold below market value by lenders seeking to recover unpaid loans from previous owners. For some buyers, the opportunity to transfer property without paying stamp duty QLD may

Buying land in Queensland (QLD) is an attractive prospect for many investors and homebuyers. With its diverse landscapes, booming economy, and vibrant communities, Queensland offers numerous opportunities for those looking to purchase land. However, there are several factors to consider to ensure a smooth and successful transaction. This guide offers a comprehensive overview of the

When it comes to buying or selling a property, various factors can influence the decision-making process. One such factor that can raise concerns is whether a death has occurred in the house. This topic has become a point of discussion among potential buyers and sellers in Victoria. So, do you have to disclose a death

Making money from property is a proven method for building wealth, and it remains a highly attractive investment strategy in today’s market. This article explores various strategies to capitalise on real estate investments, tailored specifically to the current market trends in Queensland (QLD), Australia. Understanding the basics Before jumping into real estate investment, it’s crucial

For many homeowners, converting their primary residence into an investment property is a strategic move to capitalise on the potential for rental income and property value appreciation. This transition, however, involves careful planning and understanding of both legal and financial implications. Understanding the financial implications When you change the status of your home from owner-occupied

When you’re considering the purchase of a business in Australia, understanding the financial implications, including the potential for inheriting debt, is crucial. The question “If I buy a business, do I inherit the debt in Australia?” is common among potential business buyers. The answer can significantly affect your decision-making process and the financial health of