If you are selling a property that has had residential building works completed in the last 6 or 7 years, statutory vendor disclosure obligations under the Home Building Act 1989 (NSW) (Act) will be an important factor in your sale. Similarly, if you are buying a property that has had building work completed within that…
The extended deadline for the Australian Government’s HomeBuilder Scheme is approaching. To potentially be eligible for a grant of $15,000, you must enter into a contract to build a new home, substantially renovate an existing home or buy an off the plan home or new home by 31 March 2021. Whilst the Scheme was initially…
Early possession is where a purchaser requests access to the property they are purchasing before settlement has been completed, to move into or for some other purpose. A purchaser will typically seek early possession where they require time to move their possessions, or to allow them somewhere to live until settlement has been completed. This situation…
The NSW Government’s assistance initiatives for first home buyers has changed over time. The current scheme is the First Home Buyer Assistance Scheme. This Scheme allows certain first home buyers to claim a stamp duty exemption or concession on their purchases, and relates to buying an existing home, new home or vacant land on which…
It is important when buying or selling a property to check that all structures requiring development consent are approved by the relevant government authority, usually your local Council. Quite often home buyers will purchase a property unaware that certain structures on it required Council approval and that it has not been obtained. In contracts for…
Conveyancing is the legal process of transferring the ownership of real property (land and / or water) from one party to another. It may sound simple, but there are important steps involved and you need good legal advice. Even with a lawyer or conveyancer to help you, selling or buying a property can be daunting.…
If your business registered 7 year security interests on commencement of the Personal Property Securities Act 2009 (Cth) (Act), registration of the interest is due to expire at midnight on Wednesday, 30 January 2019. It is vital to renew these registrations NOW to continue to protect your interest in the corresponding personal asset. Registration of…
On 5 November 2018 the NSW Government announced changes to the state’s stamp duty laws, which will mean the seven stamp duty bands will be indexed in accordance with the Consumer Price Index (CPI). It is estimated the average saving in tax paid on a property purchase will be $500 by 2021.[1] This is an…
From now until Christmas 2018 we will donate $250 from every new rural land or water matter to provide a farmer with a face to face counselling session. Every little bit counts in relieving the effects of drought in the Upper Hunter and throughout NSW.
Section 227 of the Residential Tenancies Act 2010 (NSW) (Act) requires a review 5 years after the date of assent to ‘determine whether the policy objectives of the Act remain valid and whether the terms of the Act remain appropriate for securing those objectives’ in a changing environment, where rentals are becoming increasingly more common…