Whether you are buying or selling real estate, Armstrong Kutz Lawyers can assist you minimise risks and make your property transaction as stress free as possible.Conveyancing is the process of transferring the legal title or ownership of land and any improvements on the land (such as a house or unit) from the seller to the buyer. It is the Contract for Sale between the Seller and Buyer that facilitates this transfer of title. On signing the Contract the conveyancing process commences. The Buyer and Seller engage solicitors to act on their behalf to ensure that the transfer of title proceeds smoothly and that their interests are protected. Our conveyancing services are offered at competitive rates and are available 7 days per week for your convenience.
There are two costs involved in conveyancing.
- The professional fee, which is fixed at
House/Land $850.00 plus GST (plus outlays)
Unit $850.00 plus GST (plus outlays)
Costs for Sale
House/Land $650.00 plus GST (plus outlays)
Unit $650.00 plus GST (plus outlays)
- Outlays, consisting of disbursements and government charges as follows:
(a) Disbursements are out-of-pocket expenses (usually search fees) made on your behalf to obtain information about the property from local councils and government bodies.
(b) Government charges, which include the Transfer Duty (tax imposed by the Queensland Government on the purchase of property and paid by the buyer) and Registration Fees to register the property in your name with the Land Titles Office.
Disbursement fees / Searches
Undertaking searches is a critical part of the conveyancing process.
Searches are necessary to ensure that you are buying the correct property and that the seller listed on the contract has legal title to sell the property.
Searches will identify whether there are any encumbrances over the property, such as mortgages, caveats, easements or covenants. Searches also help identify whether a government department or local council have any future plans that may impact on the property.
Searches are also required to enable correct council rates and water usage adjustments. For residential home or land purchases, we recommend the following property searches:
Title Search upon receipt of the Contract
This search confirms the registered owner of the property, lists the title reference, provides a description of the property and identifies whether there are any mortgages, caveats or registered easements over the property. This search ought to be repeated on day of settlement to ensure that no other dealings or mortgage transactions have been lodged on title between the contract date and settlement. Cost (approx.) $29.25
Registered Plan Search
This search provides a copy of the plan for the property, including its size and shape and identifies if it is the correct property. Cost (approx.) $30.05
Council Rates Search
Information on financials, rates position, building and traffic, stormwater, sewer and flooding. Also information on licenses and property notices (12 days turnaround). Please note that this cost will vary depending on the local council concerned. Cost (approx.) $100.00 -$180,00
Land Tax Clearance Search/ Certificate.
This search shows whether the vendor owes land tax regarding the property. If there is a land tax liability at the time of settlement the new owner may be become liable for the tax. Cost (approx.) $51.26
Contaminated Lands Search
This search advises whether the property was previously utilized as a mine, dump, or land that contained hazardous materials. Cost (approx.) $68.09
This search identifies whether the seller is listed on the insolvency and Trustee Services Australia Bankruptcy Register. Cost (approx.) $26.95
Body Corporate Information Certificate (if unit or townhouse)
Financial and management information relating to the Body Corporate. Cost (approx.) $220.00
Special Water Meter Reading
Water consumption since last meter reading. Cost (approx.) $60.00 Urban Utilities
Depending on the location and nature of the property being purchased it may be advisable to undertake additional searches. Accordingly, please be mindful of the following optional searches:
- Noise Corridor Search This search will show whether the property is in a designated transport noise corridor ($4.96 approx.).
- Energex / Ergon This search will reveal whether the property is connected under normal tariff conditions / not connected and whether there are any underground cables affecting the property ($68.81 approx.).
- Town Planning Search Provides the zoning of the property and is relevant if re-development is planned.
- Building Approvals Search This search reveals whether any additions to the property such as decks or swimming pools have Council approval ($91.01 approx.).
- Telco Search This search is to determine whether there are underground cables over the property. Communications carriers are permitted to lay cables without the need to take out easements, which would ordinarily appear on Title Deeds. An underground Telco Search is prudent if the buyer is intending to undertake work on the property ($127.18 approx.).
- Heritage Search This search identifies whether the property is listed on the Heritage Register ($42.00 approx.).
- Queensland Transport Search This search will show whether or not Main Roads, Queensland Rail or the Department of Transport have any plans in relation to transport infrastructure that may impact on the property ($31.37 approx.).
- QCAT Search of Tree Register This search is to check for any tree, dividing fences and pool fencing orders (TBA).
- QCAT Neighbourhood Dispute Resolution This search is to identify any prior or current disputes over the property ($18.96 approx.).
BUYING A PROPERTY Conveyancing process
|Armstrong Kutz Lawyers||You|
|Receipt of Contract||We peruse Contract and advise you of your obligations and critical dates, such as the cooling off period and inspection dates
We undertake a Title Search and a Registered Plan Search
We write to the seller’s solicitor advising that we act on your behalf
|Obtain insurance cover over your new property
Arrange for a building and pest inspection as soon as possible and notify us of the results
Provide us with a copy of the finance approval from your bank
|Contract goes Unconditional||If you are satisfied with the building and pest inspections we notify the seller’s solicitor and agent that the conditions are met
Once conditions are met the contract is unconditional
|Arrange with your bank to ensure that all mortgage documents are signed by you and returned to your bank|
|Lead up to Settlement||We order and obtain the rest of the appropriate searches, such as Main Roads, Land Tax and any additional searches you request
Calculate settlement figures to ensure correct amount is paid at settlement, including making adjustments for outgoings such as rates, water and body corporate fees
Arrange settlement time and place with your bank and seller’s solicitor
Advise your bank of cheque details for settlement
|Receive our correspondence to be completed by you and return with a cheque to cover search costs
Liaise with your bank to ensure they are ready for settlement and there are no outstanding issues
Provide us with balance of settlement monies to be paid to seller as well as stamp duty and our fees
|Pre -Settlement||We will inform you of the cheque details required at settlement||Arrange a pre-settlement inspection of the property|
|Settlement||We pay the stamp duty to Office of State Revenue
We attend settlement, where Transfer Documents are exchanged in order to Transfer the property
We contact you and the agent confirming settlement
|Post settlement||If you paid cash for your purchase, we lodge Transfer at the Department of Natural Resources
We inform you in writing the settlement figures and provide a tax invoice for our services
|Receive final letter from us and tax invoice|