tag:blogger.com,1999:blog-25141612659498023782024-03-12T17:16:40.487-07:00Amanda Hall BlogAnonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.comBlogger310125tag:blogger.com,1999:blog-2514161265949802378.post-62030466460928211132018-07-15T19:27:00.003-07:002018-07-15T19:27:18.507-07:00Cyber Protection Information - eConveyancing Newsletterhttp://www.aicnational.com.au/uploads/pdf/eConveyancing%20Australia%20No%201%200618.pdf<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-534176772559591612018-07-15T19:27:00.001-07:002018-07-15T19:27:17.895-07:00ATO Obligations for Conveyancing Workshophttps://www.eventbrite.com.au/e/australian-tax-office-obligations-for-conveyancing-and-pexa-processing-tickets-47806920787<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-26264446308864869982018-07-08T22:18:00.003-07:002018-07-08T22:18:27.561-07:00Cyber Protection Information - eConveyancing Newsletterhttp://www.aicnational.com.au/uploads/pdf/eConveyancing%20Australia%20No%201%200618.pdf<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-85500933548591443022018-07-08T22:18:00.001-07:002018-07-08T22:18:27.076-07:00ATO Obligations for Conveyancing Workshophttps://www.eventbrite.com.au/e/australian-tax-office-obligations-for-conveyancing-and-pexa-processing-tickets-47806920787<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-60236551362250197412018-06-27T00:45:00.001-07:002018-06-27T00:45:57.607-07:00eConveyancing Australia - Edition 1Get the latest from the AIC National's eConveyancing Initiative, covering important tips and risk mitigation for your business in relation to cyber security. Download now<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-71772554470557203062018-03-12T01:55:00.003-07:002018-03-12T01:55:19.015-07:00Property Grants available in 2018<p><strong>FIRST HOME BUYERS ASSISTANCE SCHEME</strong></p>
<p>The First Home Buyers Assistance scheme is a NSW Government initiative which provides exemptions or concessions on Stamp Duty for eligible NSW first home buyers. This includes vacant land on which you intend to build your first home.</p>
<p>First home buyers can apply to receive:-</p>
<ul type="disc">
<li>Exemptions from stamp duty on new and existing homes up to $650,000</li>
<li>Concessions on Stamp Duty for new and existing homes between $650,000 and $800,000</li>
<li>Eligible purchasers buying a vacant block of residential land to build their home on will pay no Stamp Duty on vacant land valued up to $350,000, and will receive concessions on duty for vacant land valued between $350,000 and $450,000.</li>
</ul>
<p>To qualify for First Home Buyers Assistance, you must meet the criteria listed below:</p>
<ul type="disc">
<li>The contract and the transfer must be for the purchase of the whole of the property.</li>
<li>All purchasers must be ‘eligible purchasers’. An ‘eligible purchaser’ is a natural person (i.e. not a company or trust) at least 18 years of age who has not, and whose spouse/de facto has not:
<ul type="circle">
<li>at any time owned (either solely or with someone else) residential property in Australia other than property owned solely as trustee or executor</li>
<li>previously received an exemption or concession under First Home—New Home.</li>
</ul>
</li>
<li>At least 1 eligible purchaser must occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of completion of the agreement. (Where an eligible purchaser was a member of the permanent forces of the Australian Defence Force and all purchasers were enrolled on the NSW electoral roll, as at the transaction date, then all purchasers are exempt from the residence requirement).<strong><br /></strong></li>
</ul>
<p><strong> </strong></p>
<p><strong> </strong></p>
<p><strong>First Home Owners Grant (New Homes)</strong></p>
<p>First home buyers <strong>building</strong> a new property may be entitled to a $10,000 grant on homes worth up to $750,000.</p>
<p>First home buyers <strong>purchasing</strong> a brand new property worth up to $600,000 may be entitled to a $10,000 grant.</p>
<p>The criteria to be eligible for the First Home Owner Grant are:-</p>
<ul type="disc">
<li>at least one buyer must be an Australian citizen or permanent resident</li>
<li>the agreement must be for the purchase of the whole property</li>
<li>you must be a natural person (not a company or trust)</li>
<li>you must be over 18</li>
<li>the home is a brand new home</li>
<li>you or your partner have not previously owned property in any form in Australia</li>
<li>at least one purchaser must occupy the home within 12 months and needs to live in the home for a continuous period of at least 6 months</li>
<li>you have not previously received a First Home Owners Grant in any State or Territory.</li>
</ul>
<p> </p>
<p>If you would like to know more about these benefits, please contact <a href="http://www.revenue.nsw.gov.au/first-home-buyers" target="_blank" rel="noopener">Revenue NSW</a> or our office.</p>
<p>The post <a rel="nofollow" href="http://blog.conveyancing-services.com.au/index.php/property-grants-available-in-2018/">Property Grants available in 2018</a> appeared first on <a rel="nofollow" href="http://blog.conveyancing-services.com.au">Conveyancing Conversations</a>.</p>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-79530768463123213712018-03-12T01:55:00.001-07:002018-03-12T01:55:18.251-07:00IAN MARLER RECOGNISED BY AUSTRALIAN INSTITUTE OF CONVEYANCERS NATIONAL AND STATE DIVISIONS<p>Ian Marler has been inducted as a Fellow into the Australian Institute of Conveyancers (AIC) and has also been awarded a Life Membership into the NSW Branch of the Institute for his tireless efforts and expertise in the Conveyancing industry.</p>
<p>Adamstown, NSW, March 8, 2018– Conveyancing Services is proud to announce that one of our founders, Mr Ian Marler, has been awarded both a Fellowship with the National Division of the Australian Institute of Conveyancers and a Life Membership with the NSW Division. Ian started one of the first conveyancing firms in the Hunter region, Conveyancing Services, in Denison Street in 1986 and later moved to Adamstown and expanded to Maitland. Ian was instrumental in having conveyancing recognized as a stand alone profession outside of solicitors and has long been well regarded in the industry. Ian is one of only five people to receive a Fellowship with the AIC and the only one from Newcastle.</p>
<p>Natalie Mason, who began working with Conveyancing Services in 2001 and is now a Co-Owner of the business, says “Ian is an amazing conveyancer who is extremely generous with his knowledge and his time and we are incredibly grateful for his contribution to conveyancing.”</p>
<p>Ian is a very well respected gentleman in Newcastle and many industries and has vast knowledge which is he always willing and available to share with anyone seeking to further their own interest in conveyancing. Ian is a Founding Member of the Australian Institute of Conveyancing, NSW Division, a Registered Surveyor and continues to be an asset to the local community with his services as a Justice of the Peace.</p>
<p>Kat Bell, who started at Conveyancing Services in 2010 and commenced studying for her conveyancing licence in 2011 says “Ian is a wonderful person who was part of the reason that I decided to aim for my conveyancing licence. He was always available for any questions I had and continues to be an inspiration in my career and a great friend.”</p>
<p><img class="alignnone size-full wp-image-124" src="http://blog.conveyancing-services.com.au/wp-content/uploads/2018/03/IMG_5579.jpg" alt="IMG_5579" width="432" height="742" srcset="http://blog.conveyancing-services.com.au/wp-content/uploads/2018/03/IMG_5579.jpg 432w, http://blog.conveyancing-services.com.au/wp-content/uploads/2018/03/IMG_5579-175x300.jpg 175w" sizes="(max-width: 432px) 100vw, 432px" /></p>
<p>The post <a rel="nofollow" href="http://blog.conveyancing-services.com.au/index.php/ian-marler-recognised-by-australian-institute-of-conveyancers-national-and-state-divisions/">IAN MARLER RECOGNISED BY AUSTRALIAN INSTITUTE OF CONVEYANCERS NATIONAL AND STATE DIVISIONS</a> appeared first on <a rel="nofollow" href="http://blog.conveyancing-services.com.au">Conveyancing Conversations</a>.</p>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-18189222968137792018-02-28T00:29:00.001-08:002018-02-28T00:29:04.807-08:00Dubbo eConveyancing Workshopshttps://www.eventbrite.com.au/e/office-of-the-registrar-general-econveyancing-regional-workshop-dubbo-tickets-39602106968<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-72626373659704453392018-02-18T20:53:00.001-08:002018-02-18T20:53:06.058-08:00Change of Name<p>The Office of State Revenue changed its name to Revenue NSW.</p>
<p>The new website address for Revenue NSW is http://revenue.nsw.gov.au</p>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-15705326374847304642018-02-06T18:53:00.001-08:002018-02-06T18:53:03.249-08:00Caveat Workshop - Melbournehttps://www.eventbrite.com.au/e/electronic-conveyancing-accredited-caveat-workshop-melbourne-tickets-40830056799<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-39482180903903064622017-12-07T00:11:00.003-08:002017-12-07T00:11:12.363-08:00Armidale eConveyancing Workshopshttps://www.eventbrite.com.au/e/office-of-the-registrar-general-econveyancing-regional-workshop-armidale-tickets-40933286562<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-16095084316781428062017-12-07T00:11:00.001-08:002017-12-07T00:11:11.831-08:00Bowral eConveyancing Workshops Dubbohttps://www.eventbrite.com.au/e/office-of-the-registrar-general-econveyancing-regional-workshop-dubbo-tickets-39602106968<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-71921856986228416992017-10-17T02:02:00.013-07:002017-10-17T02:02:54.082-07:00Grafton eConveyancing Workshopshttps://www.eventbrite.com.au/e/office-of-the-registrar-general-econveyancing-regional-workshop-newcastle-tickets-37403389545<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-35471625586607002652017-10-17T02:02:00.011-07:002017-10-17T02:02:53.546-07:00Grafton eConveyancing Workshopshttps://www.eventbrite.com.au/e/office-of-the-registrar-general-econveyancing-regional-workshop-grafton-tickets-37718072771<br />
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-22642565784611279642017-09-11T21:20:00.001-07:002017-09-11T21:20:15.563-07:00How to Time Your Property Settlements Well When Buying and Selling<p><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367.png" alt="" width="750" height="367" class="aligncenter size-full wp-image-1276" srcset="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367.png 750w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-300x147.png 300w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-437x214.png 437w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-400x196.png 400w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-50x24.png 50w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>When you’re looking to move to a new property, the usual dilemma is whether to sell your current home first before buying a new one, or vice versa. Both options come with their pros and cons, and are <a href="https://www.thinkconveyancing.com.au/blog/risks-when-buying-new-and-old-properties/">each risky in their own right</a>.</p>
<p>However there is a third option, for those who want to get the best of both worlds while minimising the costs: do both processes simultaneously.</p>
<p>How do you time your settlements in such a way so that they don’t overlap and leave you at a disadvantage as either vendor or buyer? Here’s the ideal way to go forward:</p>
<ol>
<li>Keep tabs on the market
<p>Watch the trends and make your move to sell when demand is picking up and prices are jumping. This allows you to maximise the value of your property. Then if possible, consider <a href="https://www.thinkconveyancing.com.au/blog/property-market-trends-in-2017/">buying into a market</a> where competition is less robust, allowing you to snag a nice home at a lower price. Doing your research well is the key to this secret! Of course, you can only wait for so long between settlements without complicating your living situation, so you need to keep up with your due diligence and connect regularly with local <a href="https://www.thinkconveyancing.com.au/victoria/conveyancing-melbourne/">real estate agents</a>.</p>
</li>
<li>Extend your settlement date
<p>Both parties generally negotiate over the date of settlement in the <a href="https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/property-settlement">contract of sale</a>. To give yourself adequate time to find a new home, you can suggest a long settlement period of up to several months. If suitable, you can also ask your conveyancer to include a clause that allows you to bring the settlement date forward (provided you give your buyer a few weeks’ notice). This would make it parallel to the settlement date of your new property,</p>
</li>
<li>Put in a conditional offer
<p>This type of offer calls for the purchase of a new property to be contingent on the sale of the old one. You simply <a href="https://www.thinkconveyancing.com.au/blog/the-key-differences-between-a-conveyancer-and-a-solicitor/">ask your conveyancer</a> to include a clause in the contract that makes the purchase “subject to” the sale of your property. This gives you leeway to get your current home off the market while ‘reserving’ your next property. The risk here is that some vendors may not be willing to accept conditional offers, given the lack of certainty attached to them. As an alternative, you could apply for a bridging loan, which allows you to “own” two properties simultaneously. This loan provides you with funding for a new place while you wait for your old home to sell, though the interest rates are generally quite high.</p>
</li>
</ol>
<p>Timing your settlements to fall simultaneously when buying and selling property can be a tricky business, but it’s not altogether impossible. At <a href="https://www.thinkconveyancing.com.au/">Think Conveyancing</a> we’ve worked on some challenging transactions and worked with our clients to meet conflicting and chaotic deadlines: it’s all part of the process of conveyancing. We’re always on hand to help you with the <a href="https://www.thinkconveyancing.com.au/blog/infographic-property-selling-conveyancing-process/">legal process of buying and selling property</a>, so if you’d like to speak with a member of our friendly team for an obligation-free chat, contact us today on <a href="tel:1300932738">1300 932 738</a> or request a <a href="https://www.thinkconveyancing.com.au/free-quote/">free quote online</a>.</p>
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<a href="http://thinkconveyancing1.blogspot.com/2017/09/how-to-time-your-property-settlements.html">How to Time Your Property Settlements Well When Buying and Selling</a> posted first on <a href="http://thinkconveyancing1.blogspot.com">http://thinkconveyancing1.blogspot.com</a>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-45136363147693795992017-09-11T21:12:00.001-07:002017-09-11T21:12:21.311-07:00How to Time Your Property Settlements Well When Buying and Selling<p><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367.png" alt="" width="750" height="367" class="aligncenter size-full wp-image-1276" srcset="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367.png 750w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-300x147.png 300w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-437x214.png 437w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-400x196.png 400w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-the-secret-to-timing-your-property-settlements-when-buying-and-selling-750x367-50x24.png 50w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>When you’re looking to move to a new property, the usual dilemma is whether to sell your current home first before buying a new one, or vice versa. Both options come with their pros and cons, and are <a href="https://www.thinkconveyancing.com.au/blog/risks-when-buying-new-and-old-properties/">each risky in their own right</a>.</p>
<p>However there is a third option, for those who want to get the best of both worlds while minimising the costs: do both processes simultaneously.</p>
<p>How do you time your settlements in such a way so that they don’t overlap and leave you at a disadvantage as either vendor or buyer? Here’s the ideal way to go forward:</p>
<ol>
<li>Keep tabs on the market
<p>Watch the trends and make your move to sell when demand is picking up and prices are jumping. This allows you to maximise the value of your property. Then if possible, consider <a href="https://www.thinkconveyancing.com.au/blog/property-market-trends-in-2017/">buying into a market</a> where competition is less robust, allowing you to snag a nice home at a lower price. Doing your research well is the key to this secret! Of course, you can only wait for so long between settlements without complicating your living situation, so you need to keep up with your due diligence and connect regularly with local <a href="https://www.thinkconveyancing.com.au/victoria/conveyancing-melbourne/">real estate agents</a>.</p>
</li>
<li>Extend your settlement date
<p>Both parties generally negotiate over the date of settlement in the <a href="https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/property-settlement">contract of sale</a>. To give yourself adequate time to find a new home, you can suggest a long settlement period of up to several months. If suitable, you can also ask your conveyancer to include a clause that allows you to bring the settlement date forward (provided you give your buyer a few weeks’ notice). This would make it parallel to the settlement date of your new property,</p>
</li>
<li>Put in a conditional offer
<p>This type of offer calls for the purchase of a new property to be contingent on the sale of the old one. You simply <a href="https://www.thinkconveyancing.com.au/blog/the-key-differences-between-a-conveyancer-and-a-solicitor/">ask your conveyancer</a> to include a clause in the contract that makes the purchase “subject to” the sale of your property. This gives you leeway to get your current home off the market while ‘reserving’ your next property. The risk here is that some vendors may not be willing to accept conditional offers, given the lack of certainty attached to them. As an alternative, you could apply for a bridging loan, which allows you to “own” two properties simultaneously. This loan provides you with funding for a new place while you wait for your old home to sell, though the interest rates are generally quite high.</p>
</li>
</ol>
<p>Timing your settlements to fall simultaneously when buying and selling property can be a tricky business, but it’s not altogether impossible. At <a href="https://www.thinkconveyancing.com.au/">Think Conveyancing</a> we’ve worked on some challenging transactions and worked with our clients to meet conflicting and chaotic deadlines: it’s all part of the process of conveyancing. We’re always on hand to help you with the <a href="https://www.thinkconveyancing.com.au/blog/infographic-property-selling-conveyancing-process/">legal process of buying and selling property</a>, so if you’d like to speak with a member of our friendly team for an obligation-free chat, contact us today on <a href="tel:1300932738">1300 932 738</a> or request a <a href="https://www.thinkconveyancing.com.au/free-quote/">free quote online</a>.</p>
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Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-22296909197393743742017-09-08T00:35:00.001-07:002017-09-08T00:35:13.891-07:00Settlement Delays: Know Your Rights<p><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367.png" alt="" width="750" height="367" class="aligncenter size-full wp-image-1264" srcset="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367.png 750w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-300x147.png 300w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-437x214.png 437w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-400x196.png 400w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-50x24.png 50w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>When you’ve found what you’ve been looking for in a home or investment property, you can’t wait to make it officially yours. After the time and effort of getting finance and processing the transaction, the exciting time arrives to settle.</p>
<p>But what happens when the vendor makes a move to put off that final moment of parting as settlement day arrives?</p>
<p>For a buyer who’s all but ready to move in, a settlement delay is stressful and troublesome, especially if it means your scheduled preparations will be impacted. If you’ve let your old home go, it may even mean you don’t have a residence for a time.</p>
<p>On the flip side, what if you’re the vendor who has found the seemingly ideal buyer… and they suddenly seem to be hesitating at the crucial moment? What can you do next?</p>
<ol>
<li style="margin-bottom: 16px;"><strong>You can demand interest</strong><br />
As a Seller, if you decide that you can wait for the delay, you can get still compensated for it by requiring the payment of interest for each day the settlement drags on. This is known as penalty interest and can be specified as a condition in the contract of sale. <a href="https://www.thinkconveyancing.com.au/blog/does-conveyancing-cost-more-for-expensive-properties/" target="_blank">Your conveyancer will advise you</a> on how to charge this to the other party.</li>
<li style="margin-bottom: 16px;"><strong>You can issue a Notice to Complete (only in certain States)</strong><br />
This gives the other party an additional period (generally two full weeks or 14 days) to address any issues hindering the settlement. If he/she is still unable to meet the new date, then you are generally within your rights to terminate the contract and keep/recover the deposit made to secure the property.</li>
<li style="margin-bottom: 16px;"><strong>You can take legal action</strong><br />
While you can’t do this right off the bat, it is an option that is available should the situation worsen. After taking action as per points 1 and 2, if the settlement still does not happen within the agreed period due to delays from the other side, you can try to file a case to force the vendor/buyer to fulfil his/her contractual obligations in relation to the property. For further advice on your rights before taking this step, independent legal advice from a litigation lawyer is recommended.</li>
</ol>
<p>Of course, you can ultimately choose to be gracious and be understanding if there is a valid reason for the delay and if it won’t take long. In this case, as a Seller, you may choose not to apply any penalties against the Buyer.</p>
<p>Nonetheless, such occurrences prove why it’s important to have <a href="https://www.thinkconveyancing.com.au/blog/what-is-the-difference-between-a-lawyer-and-conveyancer/" target="_blank">a good conveyancer</a> on hand to advise you on whether waiting on the delay is smart and if not, what options are open to you.<br />
Conveyancing laws can vary across states, which is why it’s imperative that you hire someone in your local jurisdiction. And be sure to be organised yourself – procure and/or sign documents promptly to minimise the possibility of delay.</p>
<p>And remember, from a legal standpoint, it comes down to the contract that’s drawn up. Make sure it protects your interests, no matter which side of the transaction you’re on.</p>
<p>Engaging the services of an <a href="https://www.thinkconveyancing.com.au/queensland/conveyancing-brisbane/" target="_blank">experienced and qualified conveyancer</a> can help you ensure that your property transaction goes smoothly and that any delays are handled swiftly and professionally. For an obligation-free chat about your property needs, contact our friendly team at <a href="https://www.thinkconveyancing.com.au/" target="_blank">Think Conveyancing</a> on <a href="tel:tel:1300932738" target="_blank">1300 932 738</a> or request a <a href="https://www.thinkconveyancing.com.au/free-quote/" target="_blank">free quote online</a>.</p>
<p>Summary:<br />
<strong>Settlement delays →</strong><br />
<strong>Know your rights!</strong><br />
<strong>Step 1 > Notice to Complete</strong></p>
<ul>
<li>Gives the other party 14 days to complete the settlement</li>
<li>Otherwise, the contract can be terminated</li>
<li>And you can keep/recover the deposit</li>
</ul>
<p><strong>Step 2 > Demand interest</strong></p>
<ul>
<li>Penalty interest can be charged daily</li>
<li>Compensation can be requested for losses incurred</li>
</ul>
<p><strong>Step 3 > Take legal action</strong></p>
<ul>
<li>Notify the other party you are ready to settle</li>
<li>Terminate the contract</li>
<li>Sue for damages</li>
<li>File a lawsuit to force the fulfilment of the contract</li>
</ul>
<p><strong>A good conveyancer on hand to give advice is essential</strong><br />
<strong>(Just make sure they’re in the state/territory where the property is located)</strong></p>
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<a href="http://thinkconveyancing1.blogspot.com/2017/09/settlement-delays-know-your-rights.html">Settlement Delays: Know Your Rights</a> posted first on <a href="http://thinkconveyancing1.blogspot.com">http://thinkconveyancing1.blogspot.com</a>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-69345171237769230692017-09-08T00:32:00.001-07:002017-09-08T00:32:14.878-07:00Settlement Delays: Know Your Rights<p><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367.png" alt="" width="750" height="367" class="aligncenter size-full wp-image-1264" srcset="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367.png 750w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-300x147.png 300w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-437x214.png 437w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-400x196.png 400w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-settlement-delays-know-your-rights-750x367-50x24.png 50w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>When you’ve found what you’ve been looking for in a home or investment property, you can’t wait to make it officially yours. After the time and effort of getting finance and processing the transaction, the exciting time arrives to settle.</p>
<p>But what happens when the vendor makes a move to put off that final moment of parting as settlement day arrives?</p>
<p>For a buyer who’s all but ready to move in, a settlement delay is stressful and troublesome, especially if it means your scheduled preparations will be impacted. If you’ve let your old home go, it may even mean you don’t have a residence for a time.</p>
<p>On the flip side, what if you’re the vendor who has found the seemingly ideal buyer… and they suddenly seem to be hesitating at the crucial moment? What can you do next?</p>
<ol>
<li style="margin-bottom: 16px;"><strong>You can demand interest</strong><br />
As a Seller, if you decide that you can wait for the delay, you can get still compensated for it by requiring the payment of interest for each day the settlement drags on. This is known as penalty interest and can be specified as a condition in the contract of sale. <a href="https://www.thinkconveyancing.com.au/blog/does-conveyancing-cost-more-for-expensive-properties/" target="_blank">Your conveyancer will advise you</a> on how to charge this to the other party.</li>
<li style="margin-bottom: 16px;"><strong>You can issue a Notice to Complete (only in certain States)</strong><br />
This gives the other party an additional period (generally two full weeks or 14 days) to address any issues hindering the settlement. If he/she is still unable to meet the new date, then you are generally within your rights to terminate the contract and keep/recover the deposit made to secure the property.</li>
<li style="margin-bottom: 16px;"><strong>You can take legal action</strong><br />
While you can’t do this right off the bat, it is an option that is available should the situation worsen. After taking action as per points 1 and 2, if the settlement still does not happen within the agreed period due to delays from the other side, you can try to file a case to force the vendor/buyer to fulfil his/her contractual obligations in relation to the property. For further advice on your rights before taking this step, independent legal advice from a litigation lawyer is recommended.</li>
</ol>
<p>Of course, you can ultimately choose to be gracious and be understanding if there is a valid reason for the delay and if it won’t take long. In this case, as a Seller, you may choose not to apply any penalties against the Buyer.</p>
<p>Nonetheless, such occurrences prove why it’s important to have <a href="https://www.thinkconveyancing.com.au/blog/what-is-the-difference-between-a-lawyer-and-conveyancer/" target="_blank">a good conveyancer</a> on hand to advise you on whether waiting on the delay is smart and if not, what options are open to you.<br />
Conveyancing laws can vary across states, which is why it’s imperative that you hire someone in your local jurisdiction. And be sure to be organised yourself – procure and/or sign documents promptly to minimise the possibility of delay.</p>
<p>And remember, from a legal standpoint, it comes down to the contract that’s drawn up. Make sure it protects your interests, no matter which side of the transaction you’re on.</p>
<p>Engaging the services of an <a href="https://www.thinkconveyancing.com.au/queensland/conveyancing-brisbane/" target="_blank">experienced and qualified conveyancer</a> can help you ensure that your property transaction goes smoothly and that any delays are handled swiftly and professionally. For an obligation-free chat about your property needs, contact our friendly team at <a href="https://www.thinkconveyancing.com.au/" target="_blank">Think Conveyancing</a> on <a href="tel:tel:1300932738" target="_blank">1300 932 738</a> or request a <a href="https://www.thinkconveyancing.com.au/free-quote/" target="_blank">free quote online</a>.</p>
<p>Summary:<br />
<strong>Settlement delays →</strong><br />
<strong>Know your rights!</strong><br />
<strong>Step 1 > Notice to Complete</strong></p>
<ul>
<li>Gives the other party 14 days to complete the settlement</li>
<li>Otherwise, the contract can be terminated</li>
<li>And you can keep/recover the deposit</li>
</ul>
<p><strong>Step 2 > Demand interest</strong></p>
<ul>
<li>Penalty interest can be charged daily</li>
<li>Compensation can be requested for losses incurred</li>
</ul>
<p><strong>Step 3 > Take legal action</strong></p>
<ul>
<li>Notify the other party you are ready to settle</li>
<li>Terminate the contract</li>
<li>Sue for damages</li>
<li>File a lawsuit to force the fulfilment of the contract</li>
</ul>
<p><strong>A good conveyancer on hand to give advice is essential</strong><br />
<strong>(Just make sure they’re in the state/territory where the property is located)</strong></p>
<a id="banner_quote" href="/free-quote" target="_blank" style="border: 1px Solid Silver; display: block; margin: 10px auto 40px; width: 98%;" name="banner_quote"><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/tc-au-ad-3.png" style="width: 100%;" /></a>
Anonymoushttp://www.blogger.com/profile/09177519666277678394noreply@blogger.com0tag:blogger.com,1999:blog-2514161265949802378.post-48337220473254183212017-09-06T00:42:00.001-07:002017-09-06T00:42:18.837-07:00Should You Buy Now and Then Sell – or Does Selling Come First?<p><img src="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367.png" alt="" width="750" height="367" class="aligncenter size-full wp-image-1251" srcset="https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367.png 750w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367-300x147.png 300w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367-437x214.png 437w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367-400x196.png 400w, https://www.thinkconveyancing.com.au/blog/wp-content/uploads/think-conveyancing-should-you-sell-your-current-home-before-buying-a-new-one-750x367-50x24.png 50w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>The only thing constant in life is change, the saying goes. Families grow, careers shift and at some point, you outgrow your home, marking the time to move on to a new property.</p>
<p>However, a question that will likely be at the back of your mind is whether or not you should let go of the old home first before you get to the new.</p>
<p>There are, after all, many things you need to address before you sell a house, and a lot of paperwork to deal with if you’re going to play the role of both vendor and buyer.</p>
<p>There are several pros and cons for <a href="https://www.thinkconveyancing.com.au/queensland/conveyancing-brisbane/">selling</a> your current property first before buying again:</p>
<h2><i>Pros:</i></h2>
<ol>
<li>You can focus on adding value to your current property
<p>You generally can’t just sell your property as it is and still get a good price for it. There’s some renovation and improvement work in store in order to make your dwelling presentable to the eyes of potential buyers, and you need to allot both a budget and a chunk of time to making this happen. Handling the selling costs first also keeps your budget from getting distracted by the payments required for a new property, such as for third-party services and loans.</p>
</li>
<li>You have money in the bank
<p>Selling first adds a big amount to your bank account, and allows you to budget appropriately. Moreover, vendors will almost certainly be more willing to entertain a buyer who already has funding. You will also be able to negotiate more forcefully knowing that you have time and money on your side, especially if the vendor is looking to make a quick sale.</p>
</li>
<li>You may have some leeway on settlement dates
<p>By selling first, that doesn’t necessarily mean you have to move out quickly. <a href="https://www.thinkconveyancing.com.au/blog/5-interview-questions-to-ask-your-conveyancer/">Together with your conveyancer</a>, you may be able to negotiate a clause in the contract that allows for a longer settlement or a rent-back period while you find your new home.</p>
</li>
</ol>
<h2><i>Cons:</i></h2>
<ol>
<li>You may not have a new home right away
<p>If you decide to buy after you sell, the market may not necessarily have what you want on short notice. This means you’ll be forced to take out a short-term rental until you find your dream home, adding an unexpected hit to your budget (not to mention a double-move).</p>
</li>
<li>Rising prices may become your enemy
<p>If you start your search during a boom period where dwelling values are soaring, you may end up having to pay a whole lot more for a good home. This is a big risk you’ll encounter especially if you have a rental period to ride out.</p>
</li>
</ol>
<p>If you do decide to sell your house first, it’s recommended that you don’t take too long between the <a href="https://www.thinkconveyancing.com.au/victoria/conveyancing-melbourne/">selling and buying processes</a>. This way, you should still have a good idea of how the market is moving. Be sure to research and prepare the necessary documents early in the process, so you’re prepared to move immediately once you do find the right home.</p>
<p>At <a href="https://www.thinkconveyancing.com.au/">Think Conveyancing</a> we’re always on hand to help you will the <a href="https://www.thinkconveyancing.com.au/blog/infographic-property-selling-conveyancing-process/">legal process of buying and selling property</a>. For an obligation-free chat about your situation, contact our friendly team on <a href="tel:1300932738">1300 932 738</a> or request a <a href="https://www.thinkconveyancing.com.au/free-quote/">free quote online</a>.</p>
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<a href="http://thinkconveyancing1.blogspot.com/2017/09/should-you-buy-now-and-then-sell-or.html">Should You Buy Now and Then Sell – or Does Selling Come First?</a> posted first on <a href="http://thinkconveyancing1.blogspot.com">http://thinkconveyancing1.blogspot.com</a>
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