The Brisbane property market is booming with plenty of sales and land value increases. This dynamic environment is particularly promising for sellers. Buyers may also take comfort in knowing that their investments are perhaps more likely to yield profits given the trend towards profitable land valuations.
To help with all conveyancing matters, contact regional lawyers who know the Brisbane area well and have expertise in property law. The earlier you consult with property lawyers in the conveyancing process the better, as they can offer customised advice for your specific case. For a property seller, this early consultation can provide a tailored strategy for making the most of the current booming market.
In the meanwhile, these three FAQs offer immediate advice and useful information.
What is the conveyancing process?
In most instances, the process legally begins when you enter into a contract either as the buyer or seller. The process continues through financial approvals or building inspections, often with conditions of purchase or sale subject to the positive results from these. Settlement is only the penultimate step in the process, because the conclusion requires registration of the property title transfer at the Land Titles Office.
What are some tax concerns with conveyancing?
Since conveyancing involves the transfer of legal title for real estate to another owner, there are tax implications. In particular, stamp duty and capital gains tax apply. Seeking advice from experienced property lawyers can help avoid costly mistakes, as they can review the terms of the contract before you sign it to protect your best interests.
Are there any easy online tools to help?
Yes. There are several tools available online to help both buyers and sellers. These include a handy calculator for estimating costs for conveyancing. The costs are determined by selecting answers from a drop-down menu, so the tool is user-friendly and already offers answers to choose from.