Choosing to buy or sell a property is one of the biggest decisions that people make and it is important to ensure that you get it right. Dealing with mortgage brokers, real estate agents, banks and government departments in order to ensure that the process is complete is both time consuming and stressful.
Regardless of whether you are buying or selling a property there are a number of issues which can arise and have a detrimental impact on the transaction.
Some of these issues and potential errors include:
- Incorrectly calculating the amount of stamp duty payable as you may be eligible for a concession which could save you thousands of dollars;
- Not undertaking sufficient searches which may result in you being restricted in the use of the property;
- Ensuring all mortgages on the property are released at settlement;
- Ensuring notices for building, pest and finance approval are given within the required time to avoid termination of the contract;
- The inclusion of clauses in the contract to protect your individual needs.
When transferring property as a result of a family law separation, an order by the Court can result in the following:
- The exemption stamp duty and registration fees on the transfer; and
- Capital Gains Tax Rollover if applicable.
If you are buying, selling or transferring property Michael at McDonald Leong Lawyers is able to assist by reviewing the contract before you sign it and working with you to finalise the transaction.
Contact Michael on 4723 5155 to arrange an appointment to see how he can assist you.