Grand Conveyancing and Property Finance

What is Conveyancing?

Read time: 3 minutes

It is a process of transferring the legal ownership of real estate (or other property) from one person or entity to another. The transaction, of transferring property appears to be simple, however, the fact that conveyancing is a legal procedure bound by legislation to protect a person’s interest compliance can introduce complex issues.

A step-by-step guide to buying a new home

Read time: 3 minutes

Buying a new home is a significant financial decision. Before you start to look for a property, it’s important to understand the buying process. Here is a broad step-by-step guide to buying a property.

Cooling Off

Read time: 3 minutes

A purchaser is entitled to “cool off” within 5 working days after contracts have been exchanged, subject to certain conditions. Here we will examine the cooling off right, demonstrate why cooling off is always a poor option, and explain the correct way to cool off.

Subject To Finance

Read time: 3 minutes

When a purchaser is borrowing to purchase real estate it is essential that finance is approved before the matter proceeds. If finance is not approved at the time the contract is signed, a finance condition must be included in the contract. Without a finance condition a purchaser is at serious risk.

Deposit Bonds/Guarantees

Read time: 2 minutes

A Deposit Bond is a guarantee issued by an insurance company to the vendor. It acts as a substitute for the cash deposit between signing a contract and settlement of the property. At settlement the purchaser is required to pay the full purchase price including the deposit. The use of a deposit guarantee does not remove the obligation of the purchaser to pay the full deposit, but delays that obligation until settlement.

Advisor Profile

Feel free to contact via email John Q or visit grandfinancialgroup.com.au

Articles in this issue

Advisor Menu

Advisor Bulletin Board

INVESTOR NEWS! - click on
link to view information about
investor and home loans.

Forward to a friend

Tell a friend about this newsletter

Memberships

CREDIT OMBUDSMAN
SERVICE LIMITED

Any Questions?

Email John Q now.
or call +61 (0) 3 9999 9999 or +61 (0) 3 9999 9999 between 9:00am - 4:30pm from Mondays to Fridays.

Contact Details P: +61 (0) 3 9999 9999 or +61 (0) 3 9999 9999 | F: +61 (0) 3 9999 9999 | M: +61 (0) 4 9999 9999
111 Pit Street, Glenroy VIC 3046 | Grand Conveyancing and Property Finance ABN: 99 999 999 999
© 2006 Grand Conveyancing and Property Finance Pty. Ltd. All rights reserved.

DISCLAIMER The information and strategies contained in this newsletter are based on our interpretation of relevant superannuation, social security and taxation laws at 1 June 2006. Because these laws change frequently you should obtain professional advice that is specific and relevant to your own personal financial circumstances, needs and objectives before considering implementing any strategies. The information contained within this newsletter is for general advice only. It has not been prepared taking into account your specific situation, objectives or needs. You should consider how the advice is appropriate to your own situation before making any investment decision.