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Brief Overview of Property Buying Activities
in Queensland
Here is a brief overview of the steps you should
consider when buying real estate in Queensland,
and some suggestions about how we can assist.
Please note that auctions differ after step
7 in that there is no cooling-off period and no
special conditions such as pest inspections or
subject-to-finance clauses.
| 1. Assess your financial
situation and borrowing capacity if necessary |
Please Contact
us for assistance and advice |
| 2. Decide on
the suburbs you are interested in |
Go
to gold Coast City Council web site |
| 3. Research
property prices and demographics in the chosen
suburbs |
Please
go to Sales History Report |
| 4. Find potential
properties |
We can Help You |
| 5. Inspect
the properties |
We can Help You |
| 6. Decide on
the suitability of the property, and the price
you are prepared to offer |
Please
go to Sales History Report |
7. Put in an
offer and ensure that you follow these steps:
(a) Obtain a PAMD Form 27c Disclosure to Buyer
(from the selling agent)
(b) Obtain a PAMD Form 30c Warning Statement
(from the selling agent)
(c) If necessary, seek legal advice regarding
whether or not to waive the five (5) business
day cooling off period before signing a Contract
of Sale.
ONLY THEN
(d) sign a Contract of Sale noting Special
Conditions making the contract subject to
building and pest inspections
(e) Pay a deposit to the selling agent and
receive a trust account receipt
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The selling agent
should guide you through this process, or
you can contact Lambert Smollen if you need
assistance. |
8. The listing
agent will then submit the Contract of Sale
to the seller.
Based on the assumption that your offer is
accepted, it will be signed and dated by the
seller and you will be contacted.
The five (5) business days cooling off period
begins once you have been advised this has
occurred.
Note: Assuming you did not waive this right
through a PAMD Form 32a Lawyers Certification
you may terminate the Contract under the cooling
off provision within 5 business days of signing
of the Contract. Penalties may apply.
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| 9. Assuming
any special conditions are met (such as finance
approval, and pest inspections etc) your nominated
solicitor or conveyancing agent will then
complete the transaction. |
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