{"id":836,"date":"2023-03-29T10:55:00","date_gmt":"2023-03-29T00:55:00","guid":{"rendered":"https:\/\/anp-au.com\/?p=836"},"modified":"2023-11-27T14:06:33","modified_gmt":"2023-11-27T04:06:33","slug":"%e3%80%90%e6%b5%b7%e5%a4%96%e4%ba%ba%e5%a3%ab%e9%81%a9%e7%94%a8%e3%80%91-%e6%be%b3%e6%b4%b2%e5%be%8b%e5%b8%ab%e5%b0%88%e8%a8%aa-%e8%b2%b7%e6%a8%93%e5%bf%85%e8%ae%80%e7%a7%98%e7%ac%88%ef%bd%9c-2","status":"publish","type":"post","link":"https:\/\/anp-au.com\/en\/%e3%80%90%e6%b5%b7%e5%a4%96%e4%ba%ba%e5%a3%ab%e9%81%a9%e7%94%a8%e3%80%91-%e6%be%b3%e6%b4%b2%e5%be%8b%e5%b8%ab%e5%b0%88%e8%a8%aa-%e8%b2%b7%e6%a8%93%e5%bf%85%e8%ae%80%e7%a7%98%e7%ac%88%ef%bd%9c-2\/","title":{"rendered":"[For International Residents] An Australian Lawyer&#039;s Interview: Essential Property Buying Tips | Property Buying Process | Things to Consider | Must-Buy and Must-Sell Terms | Sunset Clauses"},"content":{"rendered":"<p>A must-read guide to buying a property in Australia! D-sensei has invited seasoned real estate and commercial lawyer Stephen Kwok to share his expertise, hoping to help you better understand the essentials of buying a property in Australia. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"[For International Residents] An Australian Lawyer&#039;s Interview: Essential Property Buying Tips | Property Buying Process | Things to Consider | Must-Buy and Must-Sell Terms | Sunset Clauses\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/Rgk0F85qQkA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>In this video, Attorney Guo answers frequently asked questions, helping you easily understand the key points of buying a property! <\/p>\n\n\n\n<p>These include:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=0s\" target=\"_blank\" rel=\"noopener\">00:00<\/a> What are the things to note when buying a property in Australia? Are there any clauses to protect the buyer&#039;s rights? <\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=219s\" target=\"_blank\" rel=\"noopener\">03:39<\/a> Australian property buying process<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=347s\" target=\"_blank\" rel=\"noopener\">05:47<\/a> Details that need to be paid attention to when placing small and large orders<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=499s\" target=\"_blank\" rel=\"noopener\">08:19<\/a> A must-buy, must-sell agreement<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=530s\" target=\"_blank\" rel=\"noopener\">08:50<\/a> Legal liability for cancellation of contract<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Rgk0F85qQkA&amp;t=676s\" target=\"_blank\" rel=\"noopener\">11:16<\/a> What is a sunset clause<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">introduction<\/h2>\n\n\n\n<p>Hi everyone, I\u2019m Stephen, a lawyer specialising in Queensland real estate law. Today I\u2019d like to share with you some things to consider when buying different types of property in Australia.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Overview of Queensland Property Laws<\/h2>\n\n\n\n<p>First, we must understand that real estate laws vary from state to state in Australia. Today\u2019s discussion will focus on analyzing Queensland\u2019s real estate laws.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key terms to protect buyers<\/h3>\n\n\n\n<p>When buying property in Queensland, there are several key clauses that protect the buyer\u2019s interests.<\/p>\n\n\n\n<p>The first one is the so-called<strong>Cooling Off Period<\/strong>, which means that the buyer has 5 working days after the contract is signed to cancel the contract unconditionally, but may need to pay a penalty of 0.25% of the house price.<\/p>\n\n\n\n<p>The second is<strong>Subject to Finance<\/strong>, meaning the buyer must obtain the necessary financing before the transaction can proceed. Buyers typically have 14 or 21 days to obtain loan approval. If the loan is not approved, the buyer can use this clause to withdraw from the transaction. The third is the &quot;Building &amp; Pest&quot; clause, which allows the buyer to hire a building inspector to inspect the structure of the property and check for pests during this period. Finally, for overseas buyers, they must obtain approval from the Foreign Investment Review Board (FIRB) before the transaction can proceed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Home buying process and steps<\/h2>\n\n\n\n<p>Next, let\u2019s take a look at the specific process of buying a house.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Expression of Interest (EOI)<\/h3>\n\n\n\n<p>First is<strong>Expression of Interest (EOI)<\/strong>, a buyer expresses an interest in purchasing a specific property.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Signing a contract<\/h3>\n\n\n\n<p>followed by<strong>Signing of Contract<\/strong>This is a stage with legal responsibilities, usually facilitated by a real estate agent. During this stage, the buyer pays a small<strong>Initial Deposit<\/strong>In Queensland, it is generally recommended that the deposit should not be too large and the total deposit should not exceed 10% of the house price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Deposit<\/h3>\n\n\n\n<p>Next is<strong>Balance Deposit<\/strong>Payment is usually made after certain terms are met.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Important legal concepts in contracts<\/h3>\n\n\n\n<p>There is another important legal concept about contracts.<strong>Time is of the essence<\/strong>, which means that all contractual times must be strictly adhered to.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Special circumstances: pre-sale purchases<\/h3>\n\n\n\n<p>against<strong>Off the Plan<\/strong>The contract for the purchase of a vehicle usually has special terms. One of the important terms is<strong>Sunset Date<\/strong>, which means that if the developer fails to complete the land transfer within a specific time, the buyer can choose to terminate the contract and get a full refund of the deposit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>That concludes today&#039;s sharing. If you have any questions about buying a home in Queensland, please leave a comment or contact me. I hope this information is helpful! Thanks for listening.<\/p>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>\u5be6\u7528\u8cb7\u6a13\u5fc5\u8b80\u79d8\u7b08\uff01 D \u59d0\u4eca\u6b21\u9080\u8acb\u4e86\u8cc7\u6df1\u623f\u5730\u7522\u53ca\u5546\u696d\u5f8b\u5e2b Stephen Kwok \u90ed\u5f8b\u5e2b\uff0c\u4ee5\u5f8b\u5e2b\u7684\u5c08\u696d\u89d2\u5ea6\u8b1b [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[],"tags":[],"class_list":["post-836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/comments?post=836"}],"version-history":[{"count":3,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/836\/revisions"}],"predecessor-version":[{"id":848,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/836\/revisions\/848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media\/838"}],"wp:attachment":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media?parent=836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/categories?post=836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/tags?post=836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}