Ask the Expert

Ask the Expert

Thinking about buying a house or apartment? Libby Dessaix, Conveyancing Manager at Aylward Game Solicitors, reveals the most important things to consider when buying and the most common mistakes.

By Jane Schon | 14th October 2014

What questions should buyers be asking when looking to buy?

Buyers need to ensure they thoroughly investigate the property they are buying. Has there been any past or recent renovation work completed? Does the recent bathroom revamp have plumbing certifications? Does the existing or new deck have council’s approval? Do you need to include special conditions? Do any property searches need to be obtained before Auction Day or before a due date to satisfy a contract condition?

What's the most important thing to consider when buying a property?

Your intended use for the property, your purchase structure and your financial arrangements. What name or entity do you require the property to be registered in? Is your self-managed super or family trust properly set up for the purchase? How does running a shop-front out of your home (e.g. a hair salon or a personal training gym in your garage) affect your stamp duty? It’s important to ensure you obtain advice from your accountant with regards to the purchase. You should also discuss your finances with your broker before signing any contract as well as ensuring all bank, legal and government costs are taken into consideration.

What's the most common mistake?

Buyers often don’t look for a solicitor for conveyancing until after their contract is signed. This is a risk in itself as it means that any questions or personal arrangements buyers may have for the property may not be considered or dealt with in advance of being ‘locked in’ to the contract. Many contracts include special conditions and quite often they are drafted without a solicitor’s assistance - which buyers then later find out are either not sufficient or create loop-holes in what they otherwise intended to be a binding agreement. We are more than happy to assist buyers and property owners with contract advice and conveyancing needs and look forward to their call to discuss this with them.

Aylward Game Solicitors
Level 4, 183 Wickham Tce, Spring Hill
P 3236 0001

CULTURALLY COOL ISSUE

View mag here >

Article by Jane Schon

Jane is a former Journalist of Style Magazines. She is addicted to theatre, travelling to far off places and developing her personal style (AKA shopping). Jane adores good food (and even better coffee) and is a self-confessed sleep enthusiast.

GET YOUR NAME
ON THE A-LIST!

Oi! Wanna be in the know like the rest of us cool kids?
Join the A-list for exclusive deets on everything Brisbane and beyond. Fashion, food, beauty, lifestyle and events.
You'll get it here first!