Buying or selling property is usually one of the biggest financial transactions of your life.
The transaction is governed by a great deal of rules, regulations, and legislation. The consequences of making a mistake can be both costly and heartbreaking.
In Queensland only qualified legal firms are entitled to charge for undertaking a conveyance.
You can undertake the conveyance yourself or by means of an “assisted kit” Just remember though that you will be the one carrying the burden if something goes wrong.
Conveyancing Queensland has an in-depth understanding of all the law concerning property transactions. We are required by law to carry professional indemnity and fidelity insurance.
We carry out a comprehensive list of property checks and searches, which are charged to you without markup ensuring you are only paying for what you get. The list of these fees will be provided to you when you begin your conveyance and vary from property to property.
The granting of a Power of Attorney gives to the recipient the power to do all actions and things and to bind third parties just as if the original grantor of the Power of Attorney had entered into the Contract themselves.
There are many different forms of Powers of Attorney
However they fall into five main categories:
- Limited Power of Attorney (granted to allow limited transaction)
- Normal Power of Attorney (full transactional powers over the Grantor’s property/assets)
- Financial ( dealing only with financial matters)
- Health (dealing with health treatment and related issues)
- Enduring Power of Attorney (granted to act on behalf of incapacitated Grantor)
In Queensland, if any document signed under Power of Attorney is intended to be registered at the Department of Natural Resources (the Title Office) then the Original Power of Attorney must be registered at the Title Office.
There are a host of conditions surrounding each of these categories, which our experienced Solicitors can explain to you in detail.
When your transfer papers are lodged for registration after settlement, the Local Council, the Public Utilities (such as water) the Valuer General and the Office of State Revenue are all automatically notified of the purchase.
Other providers, such as the phone and electricity suppliers however, will need to be notified by the purchaser.
When purchasing a property, you should be mindful of the additional costs that can be associated with this process. Not all of the list below will apply to everyone, but some potential charges to consider include:
– Lender’s fees
– Inspection costs
– Moving costs
– Estate agent fees
Put simply, Conveyancing is the legal process of transferring the ownership of a property from one person to another. When either buying or selling a home, a unit, a commercial property or vacant land you are required by law to sign a contract for sale of that property. The legal work involved in preparing the sales contract, mortgage and other related documents, is called conveyancing.
It is not against the law to do your own conveyancing work. However, conveyancing work is highly technical and highly specialised. Do not attempt to do your own conveyancing unless you know precisely what to do and are certain you have the capacity to do it before you enter into the transaction. You cannot expect any assistance from the conveyancer acting for other party. If you make an error, you may cause settlement to be delayed (causing default interest to be payable by you) or even enable the other party to terminate the contract.