All property contracts can now be signed online
Consumers can now sign and witness property documents including sale contracts and residential leases online in a huge step forward for the property services industry.
In this consultation we will explain your contract requirements and costs.
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The NSW Government is considering a proposal that people who are about to buy a property can choose between paying stamp duty upfront, or paying a smaller annual property tax instead. The proposal applies to commercial as well as residential property, but let’s just look at how It might affect homebuyers.
If the proposal is implemented, homebuyers then could consider which form of tax would best suit their own circumstances. As stated in a Treasury paper, “If people plan to move home frequently, they might choose the property tax. If they plan to buy their ‘forever home’, which they intend to live in for decades, they might choose to pay stamp duty.”
As also stated in the Treasury paper, however, “Once a property has been opted-in, the property would remain subject to the property tax for all subsequent future buyers of that property.” Over time, more properties would become subject to the property tax and the Government estimates that, within 20 years, at least 50% of all properties would become subject.
The property tax annual rate is proposed to be a percentage of the property’s unimproved value.
The consultation period on the proposal is now closed, so we now all await a decision whether this proposal will proceed and, if so, in what form.
Consumers can now sign and witness property documents including sale contracts and residential leases online in a huge step forward for the property services industry.
First home buyers and the construction industry in New South Wales will be the big winners under a targeted boost to eliminate stamp duty on newly-built homes below $800,000 and slash thousands of dollars for properties up to $1 million. The changes commenced on 1 August 2020 and will last for a 12-month period.
Your paper certificates of title are about to become worthless!
The new laws generally recognise the changing nature of strata living and the increasing shift towards permitting responsible pet ownership in all strata buildings.
Saving for a home deposit takes time, patience and a lot of hard work. Unfortunately, that’s not the only upfront cost you’ll encounter when buying a property.
There are many reasons why home owners decide to downsize in this current climate. If you are thinking about taking the leap, here are some insights which might assist you along the way.
The new laws generally recognise the changing nature of strata living and the increasing shift towards permitting responsible pet ownership in all strata buildings.
Your paper certificates of title are about to become worthless!
Great news for home sellers, not so great for home buyers
It’s proposed to abolish stamp duty on NSW land purchases – but there’s a catch!
First home buyers and the construction industry in New South Wales will be the big winners under a targeted boost to eliminate stamp duty on newly-built homes below $800,000 and slash thousands of dollars for properties up to $1 million. The changes commenced on 1 August 2020 and will last for a 12-month period.
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