Conveyancing Process for Purchase of Property at 26 Jane Avenue

This document provides information about the conveyancing process for the purchase of property at 26 Jane Avenue, Southport QLD 4215. It includes details about important dates, authorities to speak to, and related fees in QLD. The document also covers the costs involved in selling a property in QLD.

PROPERTY LAW
Annexure A – New File Coversheet
MT GRAVATT LAW CENTRE
FILE NUMBER: BROWN/26JANEAV/SEP2019/414
MATTER: *Conveyancing - Purchase
*CLIENT SURNAME: BROWN
*CLIENT GIVEN NAMES: NATALIE MARY & BENJAMIN RAY
*COMPANY NAME: N/A
*COMPANY CONTACT NAME: N/A
TELEPHONE NUMBER/S: 0735 987 125
EMAIL: [e-mail]
ADDRESS: UNIT 1, 13 REX STREET
MARCOOLA QLD 4564
AUTHORITIES TO SPEAK TO:
SELLERS: Margaret Joyce Jones & Paul James Jones
SELLER’S SOLICITOR: Mr Richard Cooper from Cambridge &
Associates
REAL ESTATE AGENT: Ray Smith Pty Ltd
SELLER’S BANK: National Australian Bank
BUYER’S BANK: Westpack Bank
DATE OPENED: 27 September 2019
SOLICITOR: Ms Jennifer Holmes
PARALEGAL: Ms Natasha Espinoza
IMPORTANT DATES:
Completing the Search of Title from the Land Titles Office, QLD: 06 Aug. 19
Contract Signing: 09 Aug. 19

Notification to Buyer: 09 Aug. 19
Notification to Seller: 09 Aug. 19
Notification to Seller’s Solicitor: 09 Aug. 19
Notification to Estate Agent: 09 Aug. 19
Execution and signing of the Transfer Forms: 05 Sep. 19
Completing the Conveyancing Procedure: 06 Sep, 19
Completing the Process of Handing over the
Documents and Possession of the property: 06 Sep. 19
NOTE: * Delete where appropriate

E-MAIL TO CLIENTS
From: Natasha Espinoza - [e-mail]
To: Benjamin Ray Brown – [e-mail]
Date 08 Aug 2019, 09:39
Dear Ms Natalie and Mr Benjamin,
It was a pleasure meeting you today. In pursuance of your interest in buying the
property situated at 26 Jane Avenue, I am pleased to inform you that Ms Margaret Joyce
Jones and Mr Paul James Jones, the owners, have shown interest in selling their house
to you.
Ms Margaret and Mr Paul, the intending sellers would like to meet you and finalise the
contract. I have drawn the contract and tentatively fixed tomorrow at 11:30 AM at Ms
Jennifer Holmes’s office for signing of the contract.
Let me know by email of your confirmation.
Sincerely,
Natasha Espinoza

LETTER TO VENDOR’S SOLICITOR
Natasha Espinoza
Mount Gravatt Law Centre
1330 Cavendish Road
RANGVILLE QLD 4350
0738 749 527
09 August 2019
Mr. Richard Cooper
Cambridge & Associates
34 Creek Street
RANGVILLE QLD 4350
Dear Mr Cooper,
RE: Contract of Sale related to 26 Jane Avenue, Southport QLD 4215
With reference to the above noted matter, I would like to inform you that we are acting
as Solicitors for Ms Natalie Mary Brown and Mr Benjamin Ray Brown, the buyers of
the above mentioned property.
I am pleased to inform you that the Contract of Sale has been approved and signed by
both the sellers and the buyers and I have in hand the original copy of the said contract.
I would like to bring to your notice the following dates which are critical for the
execution of the contract.
Execution and signing of the Transfer Forms: 05 Sep. 19
Completing the Conveyancing Procedure: 06 Sep, 19
Completing the Process of Handing over the
Documents and Possession of the property: 06 Sep. 19
Yours Sincerely,
Natasha Espinoza

FILE NOTE FOR CLIENT:
Ms Natalie Mary Brown & Mr Benjamin Ray Brown
LIST OF DOCUMENTS & FEES FOR SEARCHING IN QLD
S. No. Particulars of Search Description of the Search Cost in $
(excl. GST)
01 Current Title Search Shows current owners of a lot or
water allocation and other
registered interests
19.90
02 Historical Title Search Shows all interests registered
against the lot or water allocation
since 24 April 1994
29.25
03 Historical Paper-Title
Search
Image of the historical title prior
to 24 April 1994
19.90
04 Survey Plans Image of a survey plan showing
location, dimensions and area of a
parcel of land
21.30
05 Title Documents Image of transfers, mortgages,
easements, powers of attorney,
caveats, administrative advices
and other documents
38.75

LETTER TO VENDOR’S SOLICITOR
Natasha Espinoza
Mount Gravatt Law Centre
1330 Cavendish Road
RANGVILLE QLD 4350
0738 749 527
04 September 2019
Mr. Richard Cooper
Cambridge & Associates
34 Creek Street
RANGVILLE QLD 4350
Dear Mr Cooper,
RE: Transfer Forms related to 26 Jane Avenue, Southport QLD 4215
With reference to the above noted matter, I would like to bring to your notice that the
attached Transfer Forms are being despatched to you by us as Solicitors for Ms Natalie
Mary Brown and Mr Benjamin Ray Brown, the buyers of the above mentioned
property.
Since the Contract of Sale has been executed and signed by both the sellers and the
buyers, it is important that the Transfer Forms are also executed and signed by your
client. I would request that the executed Transfer Forms be sent to me in two days-time
as our client is eager to finalise the conveyancing process at the earliest.
1. Annexure – A1
2. FORM 1 – Transfer
3. FORM 24 – Property Transfer Information
Yours Sincerely,
Natasha Espinoza

FILE NOTE FOR CLIENT:
Ms Natalie Mary Brown & Mr Benjamin Ray Brown
STAMP DUTY & RELATED FEES PAYABLE IN QLD
Paying the Stamp Duty on a property, as per Kao, Sung & Chen (ed), (2014) is the
responsibility of the buyer. Stamp duty needs to be calculated on the higher of the
assessed value of the property, say Erp & Akkermans (ed), (2012). This is
distinguished between the highest value derived using the Circle Rate (also known as
ready reckoner rate) and the value of property, as per Sexton & Bogusz, (2013) agreed
and shown in the contract document by the buyer and the seller, says Burn, Cartwright
& Maudsley, (2009).
Stamp Duty Rates in Queensland
S. No. Dutiable Value Rate of Stamp Duty
01 Up to $5,000 NIL
02 $5,001 to $75,000 $1.50 for each $100, or part of $100, by which the
dutiable value is more than $5,000
03 $75,001 to $540,000 $1,050 plus $3.50 for each $100, or part of $100, by
which the dutiable value is more than $75,000
04 $540,001 to $1000,000 $17,325 plus $4.50 for each $100, or part of $100, by
which the dutiable value is more than $540,000
05 More than $1000,000 $38,025 plus $5.75 for each $100, or part of $100, by
which the dutiable value is more than $1,000,000
The above noted applicable rates are based on the Date of Contract and not the Date of
settlement, as per Megarry et al., (2012).
RELATED FEES IN QLD
Mortgage Registration Fee: $192.00
Land Transfer Fee: $192.00 + additional fee for lodging a transfer if the consideration
is more than $180,000 - $36.00 for each $10,000 or part of $10,000 more than
$180,000, as per McFarlane, Hopkins & Nield, (2012).

In the state of Queensland, the Stamp Duty is considered payable on the basis of use of
the property, whether the buyer intends to use the property for self-occupation or for
investment purposes. In case the buyer is intending to purchase the property for self-
occupation, there will be NILL Stamp Duty payable by the buyer on properties valued
below $500k (due to First Home Concession Rate), as per Hinkel, (2010).
Above this value and up to $550,000, the buyer gets a discount. However, for property
valued more than this, the buyer has tou pay stamp duty at the prevailing rates.
Moreover, the buyer will be exempt from paying any LAND TAX in case the property
is the FIRST HOME which the buyer is purchasing, says Bevans, (2008). The first time
buyer of a self-occupied home is also eligible for first home buyer concessions which
are offered by banks on loans for the property. Section 136 of Duties Act 2001 allows
duty exemption to the above noted transactions if made as per the Land Act 1994.

LETTER TO REAL ESTATE AGENT
Natasha Espinoza
Mount Gravatt Law Centre
1330 Cavendish Road
RANGVILLE QLD 4350
0738 749 527
09 August 2019
Mr. Ray Smith
Ray Smith Pty Ltd
14 High Street
RANGVILLE QLD 4350
Dear Mr Smith,
RE: Settlement of Property located at 26 Jane Avenue, Southport QLD 4215
With reference to the above noted matter, I would like to inform you that we are acting
as Solicitors for Ms Natalie Mary Brown and Mr Benjamin Ray Brown, the buyers of
the above mentioned property.
I am pleased to inform you that Settlement of the above noted has been completed with
the Contract of Sale being approved and signed by both the sellers and the buyers.
I would like to bring to your notice the following dates which are critical for the
execution of the contract.
Execution and signing of the Transfer Forms: 05 Sep. 19
Completing the Conveyancing Procedure: 06 Sep, 19
Completing the Process of Handing over the
Documents and Possession of the property: 06 Sep. 19
Yours Sincerely,
Natasha Espinoza

CONVEYANCING PROCESS
Conveyancing includes the whole process of putting your property on sale in the
market. It concerns concluding the agreement to sell and the transfer of ownership from
the vendor to the buyer, according to Bevans, (2008).
A. Title Search
Title search gets you information about the registered owner, encumbrances registered
and any dealings that affect the title.
B. Off Title Restrictions & Interests
Searches related to this part usually include:
Zoning Rates and Outgoings – Costs which the owner pays as consequence of owning
real estate.
C. Section 32 Vendor’s Statement & The Contract
A purchaser, as per King, (2015), has the right of ending the Contract in case of vendor
not having provided the information statement as required under Section 32 of the Sale
of Land Act. The vendor’s statement under section 32, according to King, (2015), will
be examined by the buyer’s conveyancing lawyer to confirm the following information
about the property:
 Restrictions and any breach of the restrictions.
 Outgoing amounts payable as a consequence of owning the property.
 Services attached to the property.
 Information with regard to Planning and Zoning.
 Details of building permits and home owner’s warranty insurances.
 Details of notices served by authorities on the vendor.

PART - B
1. Costs Involved in Selling a Property in QLD
The unavoidable costs which you may have to bear while selling your house could
include:
A. Agent's Commission
Commissions payable to Real Estate Agents are not regulated by any authority in
Australia and since the rates are set by agents, they vary from state to state. But broadly
the rates are between 2.0% and 3% of the selling price in Queensland, as per Kao, Sung
& Chen (ed), (2014).
B. Marketing Costs
These are also known as the "hidden costs”, say Sexton & Bogusz, (2013). These can
cost you between $500 to %8,000 and can include –
 House cleaning is must for every home-seller and can cost you $50/hr.
 Repairing anything that is in need of repair.
 Give a coat of paint to the interior and exterior of the house.
 You can increase the value of your house by renovating the bathroom and
kitchen.
 Street view of your house is important, so keep your garden maintained.
 Home staging has become an important part of selling your house.
C. Costs Related to Search
These can be the legal fee charged by your solicitor and vary between $400 and $1,500.
D. Auctioneer Cost
If you chose to sell through auction, it can cost you between $200 and $1,000.
E. Conveyancer's Fees
A Conveyancer’s Fee in QLD can be in the range of $500-$2,200.
F. Fee for Discharge of Mortgage
If it is applicable in your case, it will depend on the type of Mortgage but average cost is
between $400 and $1,000, according to Kao, Sung & Chen (ed), (2014).

2. Conveyancing Process
Conveyancing includes the whole process of putting your property on sale in the
market. It concerns concluding the agreement to sell and the transfer of ownership from
the vendor to the buyer, as per Kao, Sung & Chen (ed), (2014).
A. Title Search
Title search gets you information about the registered owner, encumbrances registered
and any dealings that affect the title.
B. Off Title Restrictions & Interests
Searches related to this part usually include:
Zoning Rates and Outgoings – Costs which the owner pays as consequence of owning
real estate, according to McFarlane, Hopkins & Nield, (2012).
C. Section 32 Vendor’s Statement & The Contract
A purchaser has the right of ending the Contract in case of vendor not having provided
the information statement as required under Section 32 of the Sale of Land Act. The
vendor’s statement under section 32, according to Megarry et al., (2012), will be
examined by the buyer’s conveyancing lawyer to confirm the following information
about the property:
 Restrictions and any breach of the restrictions.
 Outgoing amounts payable as a consequence of owning the property.
 Services attached to the property.
 Information with regard to Planning and Zoning.
 Details of building permits and home owner’s warranty insurances.
 Details of notices served by authorities on the vendor.