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Conveyancing Fast Facts

For buyers, it can be confusing between the deposit they have saved to contribute to their loan and the deposit they are putting down on the contract. Whilst is shows great commitment to a seller for the buyer to pay a large deposit, this can...

Who signs the contract first once the offer has been made? Once a prospective buyer has made an offer to buy, the contract can then be prepared and sent to the buyer who will execute the contract first. Once the contract is finalised and signed by...

Are the Tenants on the Property managed by the vendor? Did you know that there is a large amount of behind the scenes work done by managing agents when a property changes ownership. When the property is managed by the vendor privately, there are various documents...

What is the difference between Government Registration fees and Transfer Duty? At settlement, there are various additional items required to be paid by the buyer to effect settlement. Transfer Duty (also known as Stamp Duty) is a Government Tax charged for acquiring property whereas Government Registration...

Q: What is a Deposit Bond?A: Deposit bonds can sometimes be used (when formally agreed to between the parties) instead of cash to pay a deposit when buying a home. The person taking out the bond has to pay the money plus fees for the...

The terms of the standard ADL and REIQ Contracts differ in what the requirements of the Seller are until settlement. Under the current REIQ Contract a Seller must use the property reasonably until settlement whereas the current ADL Contract provides that the Seller must maintain...

At Ownit Conveyancing we embrace the power of digital. Our clients and stakeholders expect fast and seamless settlements and this is why we choose to settle via the PEXA settlement workspace as often as we can. To date Australia wide there have been 7,402,197 settlements...

Q: Did you know that there are many exemptions to the payment of transfer duty in Queensland?A: The Office of State Revenue website sets out the many exemptions allowed for the payment of transfer duty. These exemptions range from exemptions applied to deceased estates to...

Q: Are there any differences between the ADL and REIQ Contracts versions? A: Both the ADL and REIQ Contracts differ significantly in the standard Contract terms. It is critical that the version of Contract being used is taken into account when looking at a Contract as...