Conveyancing News
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Coronavirus – COVID-19 January 2022 Latest Update
Here at OWNit we have taken steps to implement policies and procedures to ensure that we are able to continue to represent our clients during these unprecedented times. We are able to settle electronically via PEXA as well as complete verification of identity using facial recognition technology, without our clients
Paying the Initial Deposit on time
Q- Did you know that if the buyer pays the initial deposit late, the seller can terminate any time up to settlement? A- The last thing anyone wants is the contract to fall over at
Conveyancing in Brisbane – Your Essential Guide
If you’re looking to buy or sell property in Brisbane, you’ve picked a great time! Brisbane offers excellent affordability when compared to other major cities in Australia, and the property market here is flourishing. However,
Different types of deposits
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
Pre-settlement Inspections: Your Questions Answered
Settlement day is fast approaching. You’re counting down the hours until you’re handed the keys to your dream home! But there’s one last thing you need to do: conduct the pre-settlement inspection. If you’re considering
Signing the Contract
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
Who Moved My Chattel?
Andrew set the last of his moving boxes down in the garage and wiped the perspiration from his brow. ‘I’ll tackle the rest of the unpacking tomorrow,’ he thought to himself. ‘Just as well I
Amending the Contract after it is signed
Are there changes that the vendor wants to make after the seller has already signed? Once the buyer has signed the contract this is a legally binding offer to purchase. Any changes made to an
Self-Managed Tenant
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
Government Registration Fees vs Transfer Duty
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)
Deposit Bond
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
Sellers Obligations Until Settlement
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
