Swimming Pools as part of Property Purchase – What do the Parties need to Provide?
If the property you are selling or are interested in purchasing has a pool, you should note that the owner has obligations to ensuring the pool is at an adequate standard or else risk termination of a contract. This article will explain obligations the seller has in a contract to ensure the pool complies with the stipulated...
Building and Pest Condition Explained – Why you Should Engage a Lawyer to Assist you with your Purchase or Sale
The building and pest condition is an essential term of any residential contract. It gives the buyer crucial protection to exit out of the contract, if there is something wrong with the property that would be of significant cost to the buyer to fix. This article will discuss:
each party’s obligations;
how a party can terminate...
Adverse Possession – can a squatter claim rights to own a property?
In some circumstances – YES?!
You may think that it is an old wife’s tale when you hear if someone lives in a property long enough, they can become the new owner of the property without paying for it. The reality is that the law may allow a squatter to become the owner of the property. While this seems clear cut, many property owners may be wondering whether this extends to a...
Looking to Buy More than 1 Property – Beware of Transfer Duty Costs
Have you ever thought about buying two or more properties in one complex?
With ownership of property being one of the most prominent investment methods, it can be appealing to buy multiple properties to invest in. Maybe you have thought about buying two or more properties in the same unit complex. Be careful about buying multiple...
SUNSET CLAUSE BUYERS SHOULD BE WEARY – ARE YOU BUYING OFF THE PLAN IN QUEENSLAND?
Off the plan contracts have a potentially fatal flaw with the use of a sunset clause. While a sunset clause provides the benefit of setting a deadline for when the property must be built by, it can and has been exploited by developers to terminate contracts and proceed with a higher offer price. With the overly competitive property...
Instalment Contracts in queensland – A comprehensive Guide and reasons why they are Risky to sellers and buyers
Instalment Contracts – A Guide to Identifying them and why they are Risky
An instalment contract looks identical to a usual contract.
However, it provides more protection to buyers and greatly restricts the rights of sellers. It is important for a buyer and seller to recognise the warning signs of an instalment contract, and the potential dangers of entering into...
4 New Changes to Standard Residential Contract Conditions in Queensland – What Buyers and Sellers Need to Know
The Real Estate Institute of Queensland (REIQ) have amended their contract conditions which impact essential obligations on buyers and sellers such as
the settlement date, smoke alarms and paying a deposit electronically.
If you are a buyer or seller looking to enter into a contract for a house or unit in Queensland after 20 January 2022, you should be aware of the...
What is an easement on Property?
What is an Easement?
An Easement is a right which gives others the eligibility to cross over or use part of your land for a specific purpose.
If a registered easement exists on the property you are purchasing then you will find it listed on the Title of the property as an encumbrance.
Common Types of Easements
There are many different types of easements including the...