Uncategorized

For both newcomers venturing into their first property purchase and seasoned property investors, the prospect of buying property in a different state presents a unique set of challenges. The various advantages of buying interstate make an attractive option, but without engaging a knowledgeable and experienced conveyancing firm, you may find yourself jumping through more hoops …

Navigating Interstate Property Transactions: A Guide for Buyers and Sellers Read More »

Are you selling your home in Victoria and need access to your deposit money early? If so, you can use a Section 27 Statement to release the deposit money before settlement date. A Section 27 Statement is a document that the vendor provides to the purchaser, stating any encumbrances on the property or that the …

Are you selling your home in Victoria and need access to your deposit money early? Read More »

What is “cooling off”? And under what conditions? In Victoria, the Sale of Land Act allows a purchaser who signs a Contract to purchase real estate to terminate the Contract, under certain conditions and “cool off.” To be able to effectively “cool off” and terminate the Contract; the Purchaser must satisfy the following:- 1. The …

What is ‘cooling off’? And under what conditions? Read More »

The vacant residential land tax (also referred to as the vacant residential property tax or vacancy tax) is a tax on residential properties in Melbourne’s inner and middle suburbs which are unoccupied for more than six months a year.  It is a Victorian tax, and is different to land tax, the absentee owner surcharge and the …

What is vacant residential land tax? Read More »

Fundamentally, a Lease and a License is much the same, in that both grant a right to use property in a certain way. However, there are key legal differences between a Lease or a License that should be understood and considered before making a decision. The fundamental differences between a Lease and a License are …

What is the difference between a Lease and a License? Read More »

A Licence to Store, is a legal document that will allow one party to store their belongings in a property that belongs to another. The License to Store is generally limited to the garage only. This scenario often occurs when the Purchaser needs to move out of their current dwelling before settlement, or settlement is delayed, but …

What is a License to Store? Read More »

All purchasers of real estate worth $750,000 or more must withhold 12.5% of the purchase price from the seller unless the seller can provide a clearance certificate from the Australian Taxation Office (ATO). This is known as the foreign resident capital gains withholding (FRCGW). The FRCGW amount is withheld to ensure that foreign residents pay …

When does the foreign resident CGT (Capital Gains Tax) Withholding apply in Real Estate? Read More »

We’re excited to announce that we’ve just launched a new SLA (Service Level Agreement) that guarantees we’ll prepare your Contract of Sale of Real Estate and Section 32 within 2 business days (subject to limited third party searches)! This is thanks to our new industry-leading technology and award-winning team. We know that buying or selling …

Does Bond deliver Contracts within two business days? Read More »

Goods and Services Tax (GST) is a 10% tax that is applied to most goods and services sold in Australia. However, there are some exceptions, including the sale of certain property. GST is not payable on the sale of pre-existing residential property. This means that if you are buying a home that has already been …

When is GST payable on a property sale? Read More »

If you’re buying property in Victoria, it’s important to understand what a material fact is. A material fact is any information that could affect a buyer’s decision to purchase the property. This could include things like building defects, existence of combustible cladding or asbestos, flooding or whether there has been a serious crime on the …

What are Material Facts and why are they important when buying property in Victoria? Read More »