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PROPERTY

Choose Q&L Lawyers as your trusted partner for property transactions, where our experienced team guides you through every step with expertise and personalized service. We offer comprehensive legal support, from due diligence and contract negotiation to settlement, ensuring your interests are protected and risks minimized. With transparent pricing and a commitment to understanding your unique needs, we make the process smooth and stress-free.

 

Whether you are in Victoria, New South Wales, Queensland, South Australia, Western Australia, or the Australian Capital Territory, we offer professional property legal services to ensure every step is completed smoothly. Contact us today for a free consultation and navigate your property transaction with confidence! ​

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Q&L Lawyers offers the following legal services:

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  1. Property Acquisition and Sale:

    • Drafting and reviewing sale and purchase agreements.

    • Conducting due diligence on properties.

    • Advising on legal obligations and rights in property transactions.

  2. Lease Agreements:

    • Drafting and reviewing commercial and residential lease agreements.

    • Advising landlords and tenants on their rights and obligations.

    • Negotiating lease terms and conditions.

  3. Property Development:

    • Advising on zoning and land use regulations.

    • Assisting with planning approvals and permits.

    • Drafting contracts for construction and development projects.

  4. Strata Title and Community Title Matters:

    • Advising on strata schemes and community living arrangements.

    • Drafting and reviewing by-laws and governance documents.

    • Assisting with disputes between owners or tenants in strata schemes.

  5. Property Disputes and Litigation:

    • Representing clients in property disputes, including boundary issues, title disputes, and lease disputes.

    • Assisting with mediation and arbitration processes.

    • Conducting litigation in property-related cases.

  6. Foreign Investment Compliance:

    • Advising foreign investors on compliance with the Foreign Investment Review Board (FIRB) requirements.

    • Assisting with application processes for foreign investments.

  7. Property Financing and Mortgages:

    • Reviewing and advising on mortgage agreements and financing options.

    • Assisting with refinancing and loan agreements.

  8. Easements and Covenants:

    • Advising on easements, covenants, and rights of way.

    • Drafting and negotiating agreements related to property rights.

  9. Land Sales and Acquisition:

    • Assisting with sales and purchases of land, including rural and commercial properties.

    • Advising on land use and environmental regulations.

  10. Wills and Estate Planning Involving Property:

    • Advising on the transfer of property through wills and estates.

    • Assisting with estate planning and property distribution.

  11. Building Contracts 

    • Drafting, reviewing, and negotiating building contracts to ensure clarity on rights, responsibilities, and key terms;​

    • Assisting in resolving construction disputes through negotiation or mediation, and representing clients in litigation if necessary.

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These services can be tailored to meet the specific needs of clients in various property-related matters, ensuring they receive comprehensive legal support throughout their property transactions and dealings.

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How to Sell Property in Victoria

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Preparing to sell your property

Before you sell your property, it is a good idea to engage a conveyancer or legal practitioner who can prepare the contract of sale and vendors statement for you. You should also engage a real estate agent to start marketing the property. 

 

Vendor Statement

A vendor statement is also called a Section 32 statement. It must be provided to the purchaser before the contract of sale is signed. A vendor statement provides the buyer with information on the property, such as financial matters, insurance details, notices made in respect to the land, other relevant matters relating to land use. Any defects in the vendor statement could result in the purchaser being entitled to terminate the contract. 

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Cooling Off Period

Once the contract of sale is signed by all parties, the purchaser may still terminate the contract if they inform the vendor within three business days of signing the contract. This is known as the cooling off period.

 

Notice of the purchaser wishing to terminate the contract must be given to the vendor or an agent of the vendor or an estate agent appointed by the vendor in writing. If the contract is then terminated, the purchaser is entitled to the return of all moneys paid by them under the contract less $100 or 0.2% of the purchase price, whichever is higher.

 

Settlement

Settlement is the day when the purchaser pays the seller the balance of the purchase price, and becomes the registered owner of the property. The settlement date is set out in the contract of sale by the seller. Typically, the settlement period is 30 to 90 days after the contract is exchanged and signed by both parties.

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A week before the settlement, the purchaser has the right to inspect the property at any reasonable time. This is because the contract of sale requires the property to be in the same condition as it was when it was being sold.

How to Purchase Property in Victoria

 

Before making an offer on the property

Before you make an offer to buy a piece of property you should make sure you have looked over the vendors statement, which is a document that the seller must provide before the sale of the property. It is crucial to engage a legal practitioner to review the contract of sale before you sign. The legal practitiioner can examine whether there is any defects in the vendor statement, and advise on the terms and conditions of the contract of sale. Q&L Lawyers offers free review of 2 contracts before any purchase of the property. 

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Vendor Statement

The vendor statement includes information such as financial matters, insurance details, notices made in respect to the land, other relevant matters relating to land use, but it does not include any information pertaining to whether building regulations have been complied with, or the condition of the property. Hence, it is also recommended that before you make an offer you get the building inspected by a qualified building inspector.

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If the information on the vendors statement is incorrect, false or insufficient, then you may be able to withdraw from the sale or take legal action.

 

Contract of Sale

The contract outlines the properties details, the buyer and sellers’ names, the purchase price, the deposit and the amount owing at settlement. Once the contract of sale is signed by both the vendor and purchaser, the property is officially sold to the buyer. All parties will be subject to the rights and obligations under the contract and bound . Even though the contract of sale is signed, there are still a few more steps to be taken before the sale can be finalised.

 

Cooling off period

It is important for the buyer to know that after signing the contract of sale they have what is known as the cooling off period. This is where the buyer has three business days from the date they signed the contract to consider the offer and decide whether they want to end the contract and not buy the property. If they do wish to end the contract, they must do so within the three business days by providing written notice to the vendor or the vendors agent. The buyer will receive all the money that they paid back, with the exception of either $100 or 0.2% of the purchase price, depending on which is higher.

 

Settlement

The settlement date is set by the seller and stipulated in the contract of sale. On this date, the buyer will pay the amount still owing of the purchase price to the seller. After this the title of the property will be handed over to the buyer.

 

Stamp Duty

Stamp duty is charged by the State Revenue Office on every transfer unless the purchaser is entitled to certain exemptions. The duty is roughly 5.5% of the property contract price subject to certain exceptions. The purchaser cannot receive transfer of the title until the transfer duty is paid. The purchaser generally has to pay for the duty on the day of transfer. Q&L Lawyers can asisst you with calculating the stamp duty before you buy. 

 

Transfer of Land

Once the land transfer duty is paid, the title of the property can be transferred to the purchaser's name. This process involves lodging a completed transfer of land form along with the certificates of title. All parties involved in the conveyancing transaction must have their identity verified in accordance with the registrar’s requirements prior to the completion of the trannsfer.

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