Capital Gains Withholding Payments? What are they? Does it affect me?
Last year, the Australian Taxation Office (ATO) introduced new requirements to assist with the collection of Foreign Resident’s tax liabilities. This latest change impacts all Sale Contracts where the purchase price is $750,000 or more, regardless of whether you are…
Precedent set – Vendor recovers deficiency in sale price on the resale of their property!
While the current Contract for sale of Land clearly sets out the rights of a Vendor when a Purchaser defaults (unable to settle), we now have a case which supports it {Kelly v Galafassi & Anor [2013] NSWSC680} This Article…
Is your swimming pool compliant? New laws kick in from 29 April 2014!
If you are thinking of selling your property and you have a Swimming Pool or a Swim Spa/Spa Pool you need to read this: Is your Swimming Pool or Swim Spa/Spa Pool registered on the Swimming Pool Register? For the…
What is Title Insurance?
Did you know … Title Insurance is something you should consider NOW as part of your purchase transaction … EVEN BEFORE EXCHANGING CONTRACTS? What is Title Insurance? Title insurance is an insurance policy which can cover you for costs arising…
Prospective Purchaser triggers Work Order!
Picture this: A uniquely designed U shape house with a small swimming pool as part of the courtyard centre piece with floor to ceiling glass bi-fold doors on all three sides of the house opening onto the courtyard. As the…
Purchaser sued for deficiency in resale price – a real case to follow!
Toni Colette sued over deficiency in resale price Did you know the standard Conveyancing Contract allows a Vendor client to sue a Purchaser following default of the Contract and recover any deficiency in the purchase price on resale? This will…
Solicitor or Conveyancer – what’s the difference and which do I choose?
Prospective clients often ask what’s the difference between a Solicitor and a Licensed Conveyancer? In NSW conveyancing was traditionally undertaken by Solicitors and the cost of such work was charged according to a pre-determined scale based on a percentage of…
What are Strata By laws?
By laws are rules which an owner or occupier living in a strata complex must abide by. By laws can be changed or varied by a special resolution of the owners corporation. It is important to understand how by laws…
Swimming Pools – new safety laws for NSW
Have you heard? It is proposed that all New South Wales backyard pools will have to be registered under a safety crackdown by the NSW State Government. A bill is to be introduced into Parliament within the next few weeks….
What happens when a property valuation is under the agreed purchase price?
Bank Valuations Depending on your circumstances, if a bank valuation of a property is under the agreed purchase price it could mean that you cannot obtain the required finance to assist with your Purchase. The video highlights an example where…
