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Archive for January, 2017

Some Legal Issues to Consider for Conveyancing

Monday, January 30th, 2017

Private property Conveyancing Sydney CBD

Consultation for any property exchange is highly recommended. Property purchase is always a major decision; there are many factors to consider. Conveyancing consultation aims to make the process as simple as possible, as aims to prevent any poor financial or purchase decisions.

 

Commercial Conveyancing Solicitors in Sydney CBD

Commercial property purchases are subject to both the considerations and requirements of residential property purchases as well as their own additional requirements.

Goods and services tax (GST) applies to many, but not all, commercial property exchanges. Similarly, Land Tax and Capital gains taxes will almost always apply.

Commercial property purchasers should also talk to the conveyancing specialist about planning issues, zoning requirements and lease conditions.

 

Conveyancing Services Sydney

Some elements of property exchange include:

–           Building/property inspection

–           Legal documents

–          Financial approval

–           Taxes, sometimes including GST, capital gains and land tax

–           Insurance

–           Stamp duty

–           Settlement of property; signing of documents and payment.

–           Registration of the property transfer

 

 

Queensland Conveyancing Law Firm Sydney

Legal requirements for land transfer can vary between states. The situations can also be affected if the purchasing party if from a different state to the land being purchased. It is vitally important to consult a legal conveyancing specialist before any property purchase.

Sun & Wang’s familiarity with Queensland and New South Wales legal requirements put them in a suitable position to consult on interstate property transfers.

 

Melbourne Conveyancing Services Sydney

Legal land transfer requirements vary between states, and the matter becomes more complex for interstate or international purchases. Professional consultation is imperative.

Sun & Wang’s familiarity with Victorian and New South Wales legal requirements put them in a suitable position to consult on interstate property transfers.

 

Off The Plan Purchase Conveyancing Firm Sydney

Purchasing property not yet built is termed ‘off the plan purchasing’. This is a different situation to other property exchanges, with some flexibility, and some advantages and disadvantages.

Advantages of Off the Plan Purchase Conveyancing

–           Prices can be lower with an off the plan purchase compared to similar purchases.

–           Investment opportunities are usually good as the land value will often increase.

–           There is often a fairly good choice of which property to buy in developing estate areas.

–           Payment is sometimes not required till 12 -18 months after purchase.

–           There is often a builder’s warranty (please check this!).

–           A certain amount of property customization is sometimes possible as the buildings in the area are yet to be constructed.

 

Disadvantages of Off the Plan Purchase Conveyancing

–           There are always a few real estate scams. Avoid being swindled.

–           Investments are never completely certain as changes in the property market are hard to predict, and changes may negatively impact the value of the purchase.

–           Occasionally planned work is cancelled, and though the original investment is returned the opportunity to invest elsewhere is lost or delayed. This means lost financial interest and possible tax issues.