DEPOSIT BONDS – PITFALLS
Sometimes a purchaser does not have sufficient cash to pay the usual 10% deposit when purchasing a property. While there is sometimes the option to pay lesser deposit, a deposit bond can provide an alternative. The deposit bond is effectively a policy document that tells the vendor that the provider will pay the deposit to […]
FIRST HOME BUYERS ASSISTANCE – SHARED EQUITY ARRANGEMENTS
Can I buy with my parents and still be eligible for first home benefits? Receiving financial assistance from a family member or other non-eligible first home buyer may be the only way you can get your foot in the real estate door. How does this affect your eligibility for First Home Buyers Assistance? First Home […]
CONVEYANCING BASICS – WHAT HAPPENS BEFORE SETTLEMENT?
The time since Contracts were exchanged has quickly passed and you’re now getting ready to settle on the purchase of your home. But what else should you be doing now? A pre-settlement inspection should be arranged with the real estate agent (or the seller direct, if there is no agent) as close as possible to […]
FOREIGN RESIDENT CAPITAL GAINS WITHHOLDING
There have been changes to the “Foreign Resident Capital Gains Withholding” (“FRCGW”) rules. FRCGW first applied to vendors disposing of certain taxable Australian property under contracts entered into from 1 July 2016. New rules for FRCGW apply to vendors of certain taxable property under contracts entered into from 1 July 2017. The changes will […]
SUPPORTING FIRST HOME BUYERS
The NSW Government is set to introduce a new package to improve housing affordability for first home buyers. For first home buyers, this package will: Abolish stamp duty on all homes up to $650,000 Give stamp duty relief for homes up to $800,000 Provide a grant of $10,000 for builders of new homes up to […]
CONVEYANCING BASICS – AM I ELIGIBLE FOR ANY GRANTS?
The NSW Government have several grants available to purchasers in New South Wales. We can let you know if you might be eligible to receive any of these grants. WHAT GRANTS ARE AVAILABLE? FIRST HOME BUYERS If it is a first home purchase of a newly constructed home, or the purchase of a vacant block […]
CONVEYANCING BASICS – HOW LONG UNTIL I CAN MOVE INTO MY NEW HOME?
You have found the property that you will soon call home. Contracts have been signed by all parties and have been exchanged so the deal is binding on you and the seller. But how long do you have to wait until you can move in? The standard settlement period (that is the time between exchange […]
E-CONVEYANCING IS ON THE MOVE
Victor Dominello, the Minister for Finance, Services and Property, has recently announced that by July 2019, all standard property transactions in NSW will be conducted electronically and all Certificates of Title will be phased out in favour of e-Titles. e-Conveyancing provides an option for parties to complete property transactions electronically. PEXA is the organisation which […]
Getting your priorities straight
A Priority Notice is an inexpensive and simple way of preventing new legal interests in land being registered prior to the registration of the relevant dealing on the title for land. You might have noticed we have to collect your passport, driver’s licence and other documents to satisfy the NSW verification of identity requirements. In […]
New requirements imposed by The Land & Property Information NSW (LPI)
The Land & Property Information NSW (LPI) has imposed new requirements for lawyers and conveyancers to take reasonable steps to identify clients when acting on their behalf in a property transaction in New South Wales. This requires us to conduct a face-to-face interview with our clients and view certain identification documents. In order for us […]
