Purchasing Property



Additional Foreign Acquirer Duty

Foreign Purchasers Beware! From the 1 October 2016, the Additional Foreign Acquirer Duty commenced in Queensland. AFAD was introduced to ensure foreign acquirers of residential property who benefit from government services and infrastructure also contribute to their delivery, ...

Posted By Despina Priala
28th February 2019
Duration : 5 Minute Read
Views : 1974

Residential Vacancy Fee for Foreign Buyers

In December 2017, The Australian Government introduced a vacancy fee for foreign owners of residential dwellings. Under the legislation, foreign owners of residential dwellings are required to pay an annual vacancy fee if their dwelling is not residentially occupied or rented ...

Posted By Despina Priala
24th July 2018
Duration : 6 Minute Read
Views : 1938

What do you need to know before you sign a building contract?

Some fantastic tips and insight into building and renovating contracts published on Undercover Architect. Please follow the link below to view more info and listen to the podcast we participated in with Undercover Architects in 2018. Listen To Podcast

Posted By Despina Priala
17th July 2018
Duration : 1 Minute Read
Views : 1829

Agents Liability for Misrepresentation

Real estate agents beware!!! A recent case in the Qld Supreme Court has determined that a real estate agent was liable for statements made to a purchaser1. The statements made included both verbal and written representations by the selling agent prior to a contract of sale being ...

Posted By Despina Priala
19th May 2017
Duration : 4 Minute Read
Views : 1731

Buying off the Plan

A Plain English Guide to Buying off the Plan Why buy off the Plan? Buying "off the plan" can lock in your purchase price early. Intro: Buying "off the plan" has become quite popular in recent years, both for investors and owner occupiers. There are advantages both for the ...

Posted By Despina Priala
16th April 2014
Duration : 1 Minute Read
Views : 1419

Common Traps Real Estate Agents Employ Through Clauses and Conditions About Inspections

Despina Priala explains some of the common issues that creep into contracts of sale for properties Question: I was recently warned by a friend that when real estate agents draw up contracts for properties they will often water down a buyer’s normal rights with special ...

Posted By Despina Priala
8th October 2013
Duration : 3 Minute Read
Views : 1448

What happens when a seller dies before closing

Despina Priala explains what options are available to a buyer if the seller dies prior to closing. Question: A week before we were set to settle on a residential investment property, I got a phone call from our solicitor saying that the seller had passed away and so the settlement ...

Posted By Despina Priala
5th March 2012
Duration : 3 Minute Read
Views : 1218

What happens when a seller dies during a transaction?

Where two parties enter into a contract of sale, each party must perform under that contract and carry out certain obligations placed upon them. If either party dies before the sale can be completed, then obviously that party can no longer perform under such contract. In the ...

Posted By Despina Priala
1st February 2012
Duration : 3 Minute Read
Views : 1224

Buyer's Rights When a Seller Changes Their Mind

Contract obligations What do you do if you enter into a contract of sale as a buyer, and the seller changes their mind in wanting to sell the property to you? Entering into a contract of sale to buy property is a very serious step to take by both buyer and seller. Each party ...

Posted By Despina Priala
7th September 2011
Duration : 5 Minute Read
Views : 1114

Buying Real Estate for Foreign Buyers

A Plain English Guide To | Buying Real Estate for Foreign Buyers Pursuant to the Foreign Acquisitions and Takeovers Act 1975 (Cth) "foreign persons" are required to obtain approval from the Foreign Investment Review Board when wanting to acquire real estate in Australia. View ...

Posted By Despina Priala
1st August 2011
Duration : 1 Minute Read
Views : 1116
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