MORTGAGEE IN POSSESSION We recently had a client who was a first home buyer interested in purchasing a property which was being sold by the bank to recoup the mortgage which had been unpaid by the owner. This is known as settlement of a mortgagee sale. These types of sales are often more complicated than a [...]
Certificate of Title A Certificate of Title (CT) is simply the representation of the legal record showing land ownership. The CT will also include any interests and restrictions on the land. The majority of CTs are now electronic however there are still paper CTs, usually held by owners who do not have a mortgage. When [...]
We offer our clients free preliminary contract advice in the negotiation phase of their purchase to assist them to make an offer that is tailored to the property and takes into account any issues in the contract. It also helps our clients negotiate changes to the contract before signing so that agreements between the parties are made [...]
FIRST HOME BUYER SCHEME As many of you would know, the conditions in the real estate market today are excellent for first home buyers.If you are a first-time buyer, you may be entitled to an exemption from paying stamp duty altogether all a concession/reduction on that stamp duty depending on the purchase price of your [...]
In December 2017 the NSW government passed into force the Building Products (Safety) Act 2017 (NSW) (BPSA). The purpose of the Act was to create liability for the use of unsafe building products such as combustible cladding. The use of aluminium composite panels with a core which is made up of more than 30% polyethylene [...]
In an effort to prevent some property developers from avoiding their GST obligations, the responsibility for collecting and remitting GST has been removed from the developer and handed to the purchaser in some conveyancing transactions. Where a contract is entered into on or after 1 July 2018, the purchaser is required to hold 1/11th of [...]
