buying a residential property in Queensland?

What you need to consider first ...

Not all settlements are the same

Too many times you hear complaints regarding communication, lack of follow up, not enough information given to the client ...

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If the property is to be your residence, own it in your name or joint names with your spouse or partner to ensure you do not pay CGT when you sell the property?

If the property is to be an investment property, consult with your solicitor and accountant to determine what is the most appropriate entity to buy the property having regard to tax, asset protection and succession planning. For example, you should consider whether the property ought to be held for the benefit of a Family Discretionary Trust.

Have you considered the location of the property, and in particular:

  • whether the property is likely to flood; and
  • whether there is likely to be any further development in the area, including private developments (units, subdivisions, town houses and the like) or council and state developments such as main roads and rail, or other services.

Do you know the zoning of the land and the surrounding land?

Have you looked at the town plan? For Brisbane, this can be found at the Brisbane City Council website, Are there any easements on the property or services on the property restricting further development? Are there any covenants affecting the use of or restricting the development of the property?

If the property is on community title, have you considered the by-laws applying to the property? Have considered the age and state of repair of the common property and considered the sufficiency of the sinking fund. As soon as you sign the contract, take out a cover note with a reputable insurer, to insure the property improvements for an amount sufficient to replace the existing structures.

For assistance on how to research your property purchase, call Hideki Shimizu from our office on 1300STRAND

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Not all settlements are the same, and at Strand, with over 30 years of attending to and completing settlements, we are one of the most experienced settlement agencies in Western Australia.

Too many times you hear complaints regarding communication, lack of follow up, not enough information given to the client. At Strand Conveyancing we give our full attention to the client and ensure that with our capable and highly experienced staff, we keep our clients fully informed from start to finish. Our many letters of thanks to our team, as received from happy clients, are our testimonials to our diligent focus on our clients needs.

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If you receive an account during the pre-settlement period, be sure to call your settlement agent before paying it. Otherwise you do not need to do anything as all rates will be adjusted at settlement.

Why are you holding monies for water rates? I have paid every account I received on time.

A reading of your water meter is arranged for settlement date. Once the account is received, the amount due is calculated and paid and the balance refunded to you.

Rate notices are not received at the time of initial settlement statements so monies are held in reserve if any rate payments are due. If you have fully paid your rates for the financial year you will receive a refund.

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Yes, we are able to handle all aspects of private sale and purchase of a property, including relevant searching.

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No, we will take care of all documents and meet with your financial institution ( if applicable ) when attending settlement on your behalf.

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Strand is committed to working with all parties, keeping everyone fully informed of any requirements within the law and will work together towards a smooth hassle free transaction. We are here to help: