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Logan City’s Best Conveyancing Lawyers
For most people, buying or selling a home is the biggest financial transaction they will ever make. That’s why it is essential to secure experienced legal advice throughout this process.
Our expert Logan City conveyancing lawyers are here to provide comprehensive advice and services for the legal elements of your property purchase. These services don’t just provide peace of mind; they can save you time, money and potential complications in the future.
We will assist with
- Preparation and review of contracts of sale
- Negotiating alterations to the terms of sale
- Providing expert advice and direction
- Ordering searches on the title of land
- Liaising with lawyers, vendors and your financier on your behalf
- Preparing the title transfer and sign documents on your behalf
- Representing you at the final settlement
Frequently Asked Questions
What is conveyancing?
Conveyancing is the legal transfer of property from one party to another. It also includes the granting of an encumbrance, such as getting a mortgage or lien.
Do I need a lawyer to do my conveyancing?
It might be tempting to manage your own conveyance to save costs, but these short cuts often come back to haunt the parties involved.
Conveyancing deals with the legal title of property and it requires diligence and specialised experience that only a solicitor can provide. The formalised transaction process is put into place to protect both the seller and the buyer.
What is the definition of settlement?
Settlement is one of the final steps in the conveyancing process, after which you will legally own your new property. All parties come together to check and exchange important legal documents and make payments.
As your appointed conveyancing lawyer, we will attend settlement on your behalf to complete all paperwork, exchange funds and finalise the transfer.
What happens after settlement?
After settlement your property is registered with the Lands Title Office where the new ownership is formalised.
How long does the conveyancing process take?
The conveyancing process can vary depending on a range of factors such as the other parties involved and any complications that emerge. As experts in conveyancing, we will manage the entire process and ensure we proceed through the relevant steps as quickly and efficiently as possible.
What are the steps to purchasing a home?
There are a range of aspects involved in buying a property, from personal finances to complicated legal contracts. Here are some of the key steps:
- Set a budget and research properties you can afford
- Conduct building inspections, pest inspections and valuations on any property you are considering
- When you receive a contract, send it to your lawyer
- Finalise your financing applications and mortgage documents
- Complete all the necessary legal forms and documents
- Conduct final inspections before your settlement to ensure the property remains in good condition
- After your purchase is finalised, you can collect your keys and move in!
What is the process of selling a property?
There’s more to selling a property than many people consider, and the legal elements are some of the most critical. Here are some of the key aspects:
- Consider appointing an agent and decide your method of sale; Auction and private sale are two popular options
- Consider independent valuations to get a broader idea of your property’s value
- Seek legal advice to prepare a contract of sale and conduct necessary searches on the title of your property
- When you have a buyer, negotiate conditions and prices and contact your lawyer for advice and contract alterations
- As settlement approaches, make the house available for inspections, organise the transfer of keys and disconnection of utilities.
- Organise moving services if necessary. All belongings should be moved by settlement day.
- If you work with our team, we will conduct the settlement and the final formal steps, leaving you to celebrate a successful sale!
What are special conditions in a contract of sale?
Special conditions operate alongside the general conditions in your contract of sale. They can specify courses of action in specific circumstances, for example, if a buyer needs to delay settlement. Both buyers and vendors can negotiate special conditions in the contract.
What is a cooling off period?
In some cases, there will be a period after committing to a purchase where buyers can terminate the contract, regardless of the terms of the contract.
What should I consider when buying property off the plan?
1. Examine the Market Conditions
While the land you purchase will have some value, the overall success of your property – once it’s built – will depend on the market conditions. Just like property fluctuations can benefit you, they can also backfire.
Examine past fluctuations and talk to an expert about predictions for the future. While you can’t always predict what’s coming in the property market, you can seek sound advice that will shape your investment.
2. Research the Developers
The team who are building your property are a big part of its success, so knowing that they’re reliable is important. Among other things, find out how long they have been in the industry, talk to previous clients and examine their previous work. If they have a history of incomplete projects, this should be considered a major red flag!
3. View Plans and Visit the Location
With off the plan builds, you will generally only have floor plans, display homes and models to go off. Be sure to examine these carefully to inspect the quality of work and design.
Also visit the physical location. Seeing where your property will be based will provide a great insight into its potential.
4. Put Everything in the Contract
While it’s important to ask questions and make requests, it’s even more important to have these expectations put into your contract. This can provide greater security around a developer’s finances, as well as clear pathways should complications arise.
5. Seek Legal Advice for the Contract
A thorough review of your contract with a legal professional can further protect your rights in an off the plan agreement. Talk to your expert property lawyer about your right to withdraw, potential penalties, your right to make changes to fixtures and other important points. A specialist property lawyer can identify the important aspects that need reviewing before your sign on the dotted line.
I’m thinking of purchasing an investment property. What should I consider?
1. Find the Perfect Location
Everyone knows that location is essential to your investment property success. Not only will the right location enhance your capital growth – the money you get from the land itself – but it will also make your home property more attractive to investors. You may want to consider the area’s demographics, neighbouring suburbs, amenities, transport and any future developments.
2. Make a Budget and Secure Your Cash Flow
In property investment, you should never buy outside your means. Equally, you shouldn’t just buy an investment property just because of its affordability. Stringent budgeting will ensure that you know your income and expenses intimately. This will allow you to find the right property at the right price and ensure proper cash flow, which is important for ongoing maintenance.
3. Examine the Property Market Before Buying
The income you generate from your property will come from ongoing rent as well as the value of your house and land. This makes examining market trends and understanding the dynamics of where you buy essential. Look at historical trends in your area to see if your property is in a growth area and talk to a professional to get the best projections for the future. The long term strategy for investment is always selling for a profit, so put steps in place that make this as likely as possible.
4. Look for Neutral, Not Unique
When you’re examining an investment property it’s important to make sure it’s not too aged or damaged, but also that it has as wide an appeal as possible. Unique home designs have their advantages, but to appeal to a wider range of renters you want neutral colours and a blank canvas that tenants can imagine themselves living in. If your property doesn’t have these qualities, look into how you can broaden the appeal through renovation.
5. Protect Yourself at Purchase and Sale
To get off on the right foot with your property investment, you want to make sure you’re getting a good deal. Make sure you buy a property that’s within your means and have a property law expert take care of your conveyance – from research, to contracts and settlement. These services can save you hundreds of dollars – a great start for your investment – while preventing future complications.
When it comes to selling you should consider these services again, to make sure that your sale goes smoothly and you can enjoy the benefits of your long-term investment strategy.
Should I Hire a Solicitor or a Conveyancer?
Legal assistance is one of the most important things to consider when buying or selling property. After all, the transfer of property isn’t just a large financial transaction, it’s a complex legal process.
Both a conveyancer and a solicitor will provide a similar core service, however there are a few differences in that set them apart.
Generally speaking, conveyancers are property law specialists only, and will provide the conveyancing service alone. While this doesn’t guarantee their expertise, it does give them the advantage of not having to keep up to date on a broader spectrum of laws. This can also mean that a conveyancer may provide a cheaper service than a solicitor.
A solicitor can be expected to have a broader knowledge of the law. While the specialisation of a conveyancer is important, complications can occur when considerations outside the conveyancing process should be identified and taken into account. This greater understanding may lead to a greater outcome for you.
Additionally, all solicitors must have professional indemnity insurance, which means guaranteed protection for you if a mistake is made. This is an Australian standard that applies across all states. Most conveyancers will also carry this insurance – as its part of their training – but there are conveyancers who don’t have insurance. Always ask your professional about insurance before signing on.
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