Merry Christmas from Ownit
To all of our clients and friends of Ownit we would like to take this opportunity to thank you for your support during 2021. 2021 has been a busy year for the property industry and we would like to take the time to say a heart felt thank you and wish you all a safe […]
Deposit Amounts
Q- Are you unsure of what deposit to offer when entering into a contract? A- It is important to remember that the deposit amount on the contract cannot exceed a total of 10% of the purchase price. In the event that the deposit paid exceeds 10% of the purchase price, the amount is no longer […]
Settlement before Christmas
Buyers and Sellers are often eager to complete their settlement prior to the end of year shut down. The following requirements must be met prior to settlement being brought forward: 1. Documents in order; 2. All parties in agreement; 3. Searches returned from the relevant authorities; 4. Buyer and Seller’s banks (if applicable) ready […]
3 Things You May Not Know About Cooling-off Periods
So, you’ve just signed the paperwork for that dream home. Congratulations! But what if you have a change of heart? This might happen for several reasons. Perhaps you learn that your bank won’t cover your monthly mortgage payments for the agreed selling price. It’s not uncommon for buyers to be plagued by buyer’s remorse, wondering if they […]
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 buying or selling a property in Queensland, it’s a good idea to get up to speed on the ins and […]
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 found the box containing the TV earlier and plugged it in. It’s almost time for the rugby game to start.’ […]
Wills And Estate Planning In Brisbane And Queensland
What is an enduring power of attorney? An Enduring Power of Attorney (EPA) is a legal document that enables you to appoint one or more people you trust (your attorneys) to make decisions on your behalf in relation to financial matters and personal matters (including health care). Under Queensland law, an EPA must be made […]
Buying and Selling at the Same Time!
Is it important to make a buyers purchase subject to their sale when they are buying and selling at the same time? Yes. When a person is buying property and they are relying on funds from their sale to be able to complete their purchase it is extremely important that a Special Condition is included […]
GST Withholding Law
Is it important to complete the GST Withholding Obligations section of the Contract? Yes. Following the introduction of the Australian Taxation Office Withholding Laws it is extremely important for both Buyers and Sellers of property that this information is correctly completed in the Contract. Financial penalties may apply to both Buyers and Sellers where the […]
Finance Approval
Is it necessary to make a Contract subject to finance if a Buyer has pre-approved finance? Yes! Pre-approval of finance does not mean that a Buyer will necessarily be able to obtain unconditional finance approval. Often when finance is approved it is subject to conditions such as satisfactory valuation. It is important that a Buyer […]
