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What is a Transfer? As settlement a Seller is required to hand over a correctly signed original Form 1 Transfer document to the Buyer in exchange for the purchase money. There are very strict rules set out in the Land Titles Practice Manual as to how...
What is a Community Management Statement? A Community Management Statement (CMS) is an important document created when developing Lots as part of a Community Titles Scheme. A CMS contains important information regarding the Scheme including the Bi Laws of the Body Corporate and Exclusive Use areas. We...
Should I obtain advice before signing a Contract when purchasing a property with a Self Managed Super Fund? Yes! It is crucial that prior to buying a property with a Self Managed Super Fund you seek your accountant's advice to ensure that it is compliant with...
Welcome Back! On behalf of the staff at Ownit Conveyancing we would like to say Welcome Back! We are looking forward to working with you all through the coming year and will again be keeping you updated with our weekly Fast Fact. If there are any topics...
On behalf of the staff at Ownit Conveyancing we take this opportunity to wish you and your families a very Merry Christmas and a safe and enjoyable New year! We thank you for your support throughout the year and look forward to working with you...
What happens to the Cooling Off clause over the Christmas period? Any cooling off period that falls between the 27th to the 31st of December will still fall during this period of time and will not automatically move to the next business day pursuant to the...
What happens to Contract dates over the Christmas period? The standard REIQ Contract terms provide that if any critical date falls on a non-business day then the date moves to the next business day. This means that any date that falls between the 27th to the...
Is the Buyer entitled to undertake a valuation of the property? While the standard REIQ Contract is not conditional on the valuation of the property often it is a condition of the Buyer’s Finance Approval that it is subject to the property being valued and that...
What is the First Home Loan Deposit Scheme? The federal government has launched an initiative to assist people in entering the housing market for the first time by underwriting home loans for first home buyers. The new government scheme for first time buyers allows approved applicants...
What if there is a tenant in the property at settlement? The standard REIQ Contract terms provide that if the Tenancies section of the Contract is not completed and the tenancy is not noted in the Contract then the Seller must provide the Buyer with vacant...