Some important news for those transacting property this year as 1 July 2018 will mark the introduction of a significant new set of rules that will apply to the purchase of new residential premises, new residential subdivisions and long term leases for a period of 50 years or more. From the 1st of July 2018 […]
The provisions of the Foreign Acquisitions and Takeovers Act 1975 (Commonwealth) (“Act”) and Foreign Acquisitions and Takeovers Regulation 2015 (Commonwealth) (“Regulation”) apply strict rules to foreign persons purchasing a residential real estate in Australia or investment for property in Australia. A summary of some of the key issues follows. Residential Real Estate Generally Under Australia’s […]
Joint Tenants or Tenants in Common is a widely misunderstood concept and is often confusing to buyers when they are deciding on which of these options best suits their needs. Understanding the difference between Joint Tenants and Tenants in Common is extremely important considering the legal implications that can arise with either option.
Purchasing or Selling property contract, property lawyer can be an overwhelming experience, particularly if it is your first residential transaction. Even more daunting is being handed a contract from an agent and being asked to sign on the dotted line when a purchaser or seller has little or no experience in what to look for […]
From January 1, there is a raft of changes coming to welfare, health, education, housing, gay marriage and many other living expenses. This is what’s coming and how it may affect you and your family across Australia. WELFARE $10 million will be set aside for treatment services for job seekers affected by proposed drug testing […]
Making the decision to purchase a property, particularly an investment property will be one of the most important purchases you will make. Whilst purchasing and owning an investment property can be a very rewarding experience, there are key items to consider when you make the decision to start your investment journey: Location, Location, Location Consider […]
UPDATE! The First Homeowners Grant has been extended, but only for a limited time! If you are looking at purchasing your first property, now is the time to act as the First Homeowners Grant has been extended to 31 December 2017 June 30, 2018. First home buyer’s approved for the Grant will receive $20,000.00 towards the […]
When the housing market is down and properties are plentiful, qualified buyers are clearly in the driver’s seat, but when things turn around, the balance of power shifts dramatically. If you are buying into a strong housing market, you will need to be a smart negotiator to do well, and that starts with shopping smart and determining a fair price for the property you want.
Introduction There are essentially four stages that cover the breadth of the conveyancing process: Pre-Contractual; Conditional; Unconditional; and Settlement/Post Settlement . Each of these stages offers its own risks. Settlement/Post Settlement The importance of this stage, which covers the settlement process and the following period, is often overlooked and matters can “slip through the cracks” […]
The importance of this stage, which occurs after all contractual conditions have been met but prior to settlement, cannot be understated as there is now a binding unconditional contract in place and failure to settle as provided in the contract will expose you to liability.