Taking the stress out of conveyancing at Christmas

Taking the stress out of conveyancing at Christmas

Buying and selling property involves strict deadlines that can carry even greater relevance at this time of year. Ballantyne Law Group's expert Property Law team makes sure your contract is always on course and that you are aware of changes and challenges brought about by the holiday season.

Let’s make a date … your contract may count on it

Thanks to a spate of public holidays – Christmas Day, Boxing Day, New Year’s Day – and the fact that many legal, financial and realty firms reduce or close down their operations, this time of year may impact your property sale or purchase.

Not paying attention to changes that affect important dates for your property contract (e.g., completion and settlement; business and non-business days; cooling-off periods; other requirements) may end up costing you money, time, anxiety and, at worst, your contract.

At Ballantyne Law Group, we want you to enjoy a happy holiday, not a stressful one, which is why our Property Law team takes pride in keeping clients up to date with all conveyancing processes and requirements.

What is conveyancing?

Conveyancing refers to the legal procedures and requirements for transferring ownership of a property. In Queensland, a standard contract imposes critical dates and timeframes that must be observed during the conveyancing process. Failure to meet them may place you in breach of the contract and allow the other party to terminate or even sue. To avoid that possibility, talk to Ballantyne Law Group about our conveyancing services, such as:

1 Reviewing all facets of the Contract of Sale and then keeping you up to date with the conveyancing schedule, key dates and any issues

2 Property searches to ensure all aspects of the property are as required

3 Liaising with your bank/financial institution and the other party’s legal team

4 Calculating financial commitments as may pertain to council rates, water, body corporate fees and land tax

5 Arranging and attending settlement

6 Ensuring completion of all matters post-settlement

As our Principal, James Ballantyne, says: “We are committed to providing a high quality and cost-effective conveyancing experience for buyers and sellers. With more than 30 years’ combined experience in conveyancing, we understand what is important to our clients.

“We use transparent and fixed pricing, efficient technologies, and we are available when our clients need us. That is whether you are buying your first house, upgrading the family home or are a savvy and experienced property investor.”

What are non-business days?

The standard Real Estate Institute of Queensland contract includes Saturdays, Sundays and public holidays as non-business days. Importantly for the Christmas-New Year period, the dates 27 December to 31 December are also considered non-business days.

Generally, tasks and deadlines that fall on non-business days are deferred to the next available business day. However, this can be a challenge during Christmas-New Year. The good news is that Ballantyne Law Group will keep you apprised of changes, proceedings and necessary responses.

What is the cooling off period?

In Queensland, a five-day ‘cooling off period’ begins on the day you receive the fully executed contract, signed by the buyer and seller. Within that timeframe, the buyer can withdraw from the contract without giving reason, although the vendor does have rights to compensation.

One important difference at this time of year is that 27-31 December – while non-business days – are included if they fall within a cooling off period.

Good advice for a happy holiday

If you are seeking to settle a property at this time of year, it makes sense to engage Ballantyne Law Group. We can help you navigate all processes with minimal impact.

Ballantyne Law Group’s Gold Coast team is trained to handle all your Property Law needs, guiding you through every step of the conveyancing process, overseeing the property transfer as well as acting and advising on any specific conditions and legal matters that may occur along the way.

If you would like to discuss Residential Conveyancing on the Gold Coast or Brisbane or any other matters with our Property Lawyers, please contact us or call (07) 5606 7332.

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