Conveyancing
Conveyancing is the legal transfer of title of property from the seller to the buyer.
DD Lawyers are experienced in conveyancing of property transactions. DD Lawyers can assist you with the important legal aspects involved in buying and selling a house or any other property.
At DD Lawyers, you will experience peace of mind with its upfront and fixed fee quotes* (*conditions apply)
Buying a House or Vacant Land
Buying your dream home or buying a vacant land to build your dream home can be a daunting process if you have never done before. This will be one of your largest financial transaction and crucial decision.
We understand that buying the property involves complex legal issue which can be confusing and stressful for you. We can make you understand of what is involved to better equip you to feel confident to make your decision.
If you are buying a property, we will:
- Ensure that all of your legal rights are protected and that you get title to what you have purchased
- Investigate issues affecting the property
- Prepare legal documents to ensure transfer of title into your name
- Calculate financial adjustments including rates, water and body corporate levies
- Co-ordinate banks, solicitors and agents to ensure settlement occurs
- Effect settlement on your behalf
- Commit to keeping you informed on how the conveyance is progressing
Conveyancing Process
Our role
- We receipt the contract and contact you to discuss what to do next
- We prepare and forward you a comprehensive letter with documents for your perusal and signing
- We order Title Search & Registered Plan Search
- Notify seller’s solicitor that we are acting for you
- We prepare transfer documents and forward them to the seller’s solicitors for signing
- If required, we will seek an extension to condition that has yet to be fulfilled Notify Agent
- After conditions are met, your contract is now unconditional
- We order and obtain remaining searches and check all Searches
- Prepare settlement figures
- Book settlement with your financier and seller’s solicitor
- Advise financier of cheque details for settlement
- Receive correspondence from us and complete and return to with a cheque for the cost of searches
- Chase up financier to ensure they are ready for settlement and have no outstanding items (ie. Fire Insurance)
- Forward balance of settlement monies to be paid to seller, stamp duty and our fees by way of bank cheques as directed by us
- Advise you of cheque details required for the settlement as soon as possible. Cheque details are dependant on all parties involved
- This could be as late as the day of settlement depending on when information is available.
- After we advise you of the cheque details, you arrange Bank Cheques for settlement, and our fees and provide these to us
- This could be as late as the day of settlement depending on when information is available.
- Attend settlement
- Send final letters to confirm details of settlement (to you and agent*)
- Contact you and agent to confirm settlement.
- Pay Office of State Revenue (stamp duty).
- Receive final letter and Tax Invoice from us after settlement
- For cash purchases, stamp the transfer and then lodge the transfer
- Send final letter to you with details of settlement figures and tax invoice for our account
ENJOY YOUR PURCHASE
Your obligations
- Take out building and public liability insurance
- Organise Building & Pest Inspections, and notify us regarding results prior to due date
- Return duly executed documents as requested
- Organise unconditional finance prior to due date and notify us the details of your financier or mortgage broker
- Provide us with details of loan and your contribution
- Arrange mortgage documents to be signed by you and delivered back to financier/broker
Selling a House or Vacant Land
If you are selling your property, we will:
- Ensure that your legal rights are protected and the transaction progresses to a settlement without hassle
- Review all legal documentation and calculate financial adjustments (i.e. rates, water and body corporate levies etc.)
- Co-ordinate banks, solicitors and agents to ensure settlement occurs
- Ensure the effective release of mortgage/s with your lender/s
- Attend settlement on your behalf
- Forward proceeds by way of bank cheque or direct deposit to your nominated account
- Advise the rating authorities that you are no longer the owner of the property
- Commit to keeping you informed on how the conveyance is progressing
If you are selling a property and buying another, we can co-ordinate both contracts to ensure a smooth transition to your new property.
Process
Steps we take leading up to the Settlement
1. Contract
- We receipt and contact you to confirm the details
- We prepare and forward you a comprehensive letter with documents for your perusal and signing.
- We order Title Search.
- Notify buyer’s solicitor that we are acting for you.
- We receive transfer documents from the seller’s solicitors.
2. Going Unconditional
- We receive notification from the buyer’s solicitor that all conditions.
- Notify Agent
- Forward Land Registry Transfer documents to you for signing.
- After conditions are met, your contract is now unconditional
3. Lead Up to Settlement
- Liaise with your mortgagee to ensure they are prepared for settlement
- Prepare settlement figures
- Book settlement with your mortgagee and buyer’s solicitor
- Advise buyer of cheque details for settlement
- Examine the Land Registry Transfer documents to ensure it has been correctly completed and signed and witnessed
- Contact your mortgage to obtain the payout amount for your mortgage*
- This could be as late as the day of settlement depending on when information is available.
- Attend settlement
- Contact you and agent to confirm settlement.
- Send final letters to confirm details of settlement (to you and agent*)
Your obligations
- Contact your mortgagee to advise you are selling your property*.
- Cooperate with the buyer to allow Building & Pest Inspections*.
- Ensure that your mortgagee has commenced preparations required for settlement.
- Receive correspondence from us and complete and sign Information Statement and return to us with a cheque for the cost of the title searches
- Chase up mortgagee to ensure they are ready for settlement and that you will receive sufficient funds to discharge the mortgage*
- Confirm details of how you would like the settlement monies remaining after paying out your mortgage to be paid to you.
- Sign Land Registry Transfer documents (witnessed by a Justice of the Peace) and return to us promptly.
- Finalise your arrangements to ensure that you will have vacated the property and taken all of your possessions by the time of settlement.
- Make arrangements with the real estate agent for keys to be made available to the buyer following settlement.
- Receive final letter and Tax Invoice from us after settlement
Client Experience
External Links
The Office of State Revenue (OSR) is responsible for the delivery and administration of revenue management services for State taxes, grants and subsidy schemes. Their website provides you with a wide range of information including transfer duty calculators to provide you with an indication of the transfer duty amount that will be payable when purchasing a residential property.
The Foreign Investment Review Board (FIRB) examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government on whether those proposals are suitable for approval under the Government’s policy. If you are a foreign person intending to purchase property in Australia, you are likely to require FIRB approval before you enter into a contract.
The Real Estate Institute of Queensland (REIQ) has been the State’s leading professional association for the real estate industry since 1918. Their website provides a solid starting point for your property related research.
RP Data provides online information relevant to the property industry, which can assist you with your initial research on a property.
If you are considering a purchase in a community titles scheme (a unit), this website can help you to learn about the operation of body corporates.