QLD Property & Conveyancing FAQs
Whether you are buying or selling your property there are steps to take before settlement can occur.
To gain a better understanding of this process we have provided answers to some of the most Frequently Asked Questions, however, should you not find the answer you are looking for, contact our Conveyancing Team TODAY!
- What is Conveyancing?
- How long does a Conveyance usually take?
- Why does a Conveyance typically take 4-6 weeks?
- What is the process involved?
- What is the cost?
In law, Conveyancing is the term used to describe the process involved in the transaction of land or property from the seller to the owner. In Australia, there are several processes and requirements that need to be met in order to complete a transaction and professional assistance comes highly recommended.
A Conveyance typically takes between 4-6 weeks. The Conveyancer will work through a checklist, as well as any special agreements made out between the buyer and the seller, before the transaction is complete.
A contract usually has a number of stages which have to be completed before the next stage can begin. Often they are made subject to a buyer being approved for finance and maybe building and pest inspection. Searches are required to be undertaken by the Solicitors to ensure the property being bought is clear from any nasty surprises. These all take time to activate.
- Contract is received and initial letters are sent and all important dates are diarised;
- Searches are conducted;
- Ensuring any special conditions mentioned in the contract are complied with;
- Arranging all adjustments for rates/land tax and other expenses;
- Arrange for release of mortgage etc;
- Arrange for settlement;
- Preparation of legal documents to transfer.
Cost will vary having regard to each transaction and whether you are buying or selling. Contact us today for a comprehensive quote.