At Bush to Beach Legal, we work with clients right across Queensland, from first home buyers to seasoned property investors. Understanding the conveyancing process in Queensland and having all your questions answered is important for your understanding of the conveyancing process and in us as your conveyancer. We explain some of the questions that our conveyancing team get most often as a starting point for getting your head around the process of transferring property and what we do every day.
What is Conveyancing?
Conveyancing, put simply, is the process of transferring ownership of a property from one party (the seller) to another (the buyer). This is a legally binding process and as such, in Queensland, it must be carried out by a qualified conveyancing solicitor. Your conveyancer is the person responsible for carrying out the legal steps for buying and selling residential or commercial property in Queensland.
We recommend you engage with the best conveyancer in Queensland early when buying or selling a home. However, the conveyancing process officially begins with our free contract review. After you have found a home to purchase or a buyer, the process of purchase is moving forward. A conveyancer will carry out a contract review, carry out title searches and any other relevant searches depending on the type of property and where it’s located.
Your conveyancer will also advise on and oversee inspections in the property at this stage. The process concludes on settlement day, which is the day when both parties’ legal teams meet, and the contract and sale are finalised. This process can take as little as four weeks, or much longer, depending on the conditions of the sale and any disputes between parties that your conveyancer will deal with.
Do I Need a Conveyancer or a Solicitor in Queensland?
Queensland is different from most other states of Australia when it comes to the difference between solicitors and conveyancers. In Queensland, conveyancing must be done by fully licenced law firms with accredited solicitors. This means that the difference between a conveyancer and a solicitor in Queensland is simply that conveyancing firms are law firms that have chosen to specialise in property law.
The benefit of this system is the level of expertise that conveyancers bring to every transaction. As Queensland continues to bring in and amend complex legislation designed to increase transparency in real estate transactions, it is becoming even more important to handle each Queensland conveyancing process with skill and experience.
How Long Does Conveyancing Take in Queensland?
The typical timeframe for straightforward conveyancing processes is between 4 and 6 weeks. Several factors can impact this time frame, however. Buyers and sellers can both negotiate a longer settlement timeframe as part of the contract and may do so for reasons like waiting on another property to sell or waiting out a lease period. Settlement may also be delayed for more unintentional reasons like negotiating specific conditions, or unsatisfactory outcomes of building and pest inspections. Waiting on financing can be another reason settlement is delayed.
An experienced conveyancer will often be able to spot any delays or issues coming and be able to discuss these with you in advance. At Bush to Beach Legal, we offer a free initial contract review at the commencement of our work together, which will help to ward off several potential issues and save you time, stress, and possibly money.
What if a Dispute Arises During the Conveyancing Process?
The conveyancing process is the period the buyer and the seller negotiate the terms of the property transfer, and each party’s conveyancer negotiates for the interests of the party they are representing. Naturally, this can at times lead to disputes or disagreements. These disagreements will vary between situations, but in any case, your conveyancer is a trained legal professional with the skills to guide you through disputes and act in your best interest.
Questions for Buyers
What Searches are Included in the Conveyancing Process?
Buying property in Queensland is an exciting but often overwhelming process, especially with the amount of legal documentation that will be coming your way. Things like title searches, flood risk assessments, and council records are required to increase transparency going into the transaction.
Here is a list of some of the more common searches we offer at Bush to Beach Legal, but the specific searches needed will depend on things like the property type and location, and a conveyancer will be able to advise on and conduct the necessary property searches for buyers Queensland.
- Title search Queensland
- Council Records SearchFlood Search
- Contaminated Land Search
- Easements and Encumbrances Check
- Building Approvals Search
- Land Tax Clearance Search
- Water Meter Reading Search
- Road or Rail Impact Search
- Heritage Listing Search
- Mining and Quarrying Search
- Electricity and Gas Infrastructure Search
- Body Corporate Records Search (for Units or Townhouses)
- Vegetation Protection Search
What Happens if I find an Issue during the Searches?
If any of the searches your conveyancer conducts reveal an issue, you have two main options: negotiate the contract or withdraw your offer. The pros and cons of each of these options depend greatly on what the issue is. Although it may feel frustrating, the point is that you have complete visibility over things that are better to know before the property becomes legally yours.
Because conveyancers in Queensland operate as fully qualified law firms, you will be able to liaise with us to discuss your options and gain advice from a legal perspective around the best course of action for your specific situation.
Can I Pull Out of the Contract after Signing It?
For residential property purchases in Queensland, the cooling-off period is 5 business days for most (but not all) property purchase types, meaning that within this time period, you can pull out of the contract, but not without potential penalties.
If you do choose to withdraw your signature from the contract within the cooling-off period, the seller can deduct up to 0.25% of the purchase price from the deposit as a penalty. The remainder of the deposit will then be refunded to you within 14 business days.
If you purchased the property by auction in Queensland, it is important to understand that you are not entitled to a cooling-off period. The same is true if you bought as a follow-up sale after an unsuccessful auction if you were a registered bidder at that auction.
As the buyer, you are also entitled to request to waive your right to a cooling-off period Queensland property if you are looking to speed the process along. This is a move best discussed with your conveyancing solicitor to ensure that it fits your goals.
Questions for Sellers
What are my Seller Disclosure Obligations in Queensland?
In Queensland, sellers are required to provide a seller disclosure statement that contains all the following information. Your conveyancing solicitor will do a lot of the grunt work in putting this document together, so you don’t need to worry about tracking all this down:
- The seller’s name, property address, and lot-on-plan details.
- Any unregistered encumbrances affecting the property.
- Information about transport infrastructure proposals or notices of intention to resume land.
- Local government zoning information and heritage listings under Queensland or Commonwealth law.
- Whether the property is listed on the Contaminated Land Register or Environmental Management Register.
- Details of contamination or environmental protections, as well as orders or applications under the Neighbourhood Disputes (Dividing Fences and Trees) Act 2011 (Qld).
- Rates and water account information.
- Flood risk and other environmental hazards.
What Happens if the Buyer Breaches the Contract?
When selling property in Queensland, a buyer breaching the terms of a property sale contract can become quite a headache for the seller without the proper legal support in place. The most common breaches are failure to settle on time, not paying the deposit in full, or failing to come up with finance approval in the agreed timeframe.
If the buyer explicitly breaches the contract of sale, you as the seller have the right to terminate the contract, but you must follow proper notice procedures under the REIQ Contract of Sale. In some circumstances, you will also be able to retain the deposit as compensation for the breach or even seek additional damages if the breach was significant enough to cause you additional financial loss.
In any of these cases, consulting with legal professionals will be a key step in determining the steps you can take. Your conveyancer will be able to advise in these situations to ensure that your actions remain legally sound. Any action you take is time sensitive so having a legal team that you trust and who are familiar with the transaction will be a huge advantage in ensuring your interests are protected.
