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Property purchases can go wrong quickly when legal details are overlooked. Here are five common pitfalls and how to avoid them. 1. Not Reviewing the Contract Before Signing In NSW, contracts fall under the Conveyancing Act 1919. In QLD, they operate under the Property Law Act 1974. Once signed, you are legally bound. Solution: Always seek legal review before signing. 2. Missing Finance Deadlines Finance clauses are time-sensitive. Failure to notify within the deadline may voi

Buying property now involves more than signing contracts and arranging finance. Anti-Money Laundering (AML) compliance is a critical part of the process. These checks are not optional they are required under Australian law. The Legal Basis for AML Checks AML requirements are governed by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and monitored by AUSTRAC. These laws aim to prevent: Criminal funds entering the property market Identity fraud Terrorism fin

When buying property in NSW or Queensland, the contract is everything. Once you sign, you are legally bound and many buyers don’t realise how strict those obligations are. Understanding contract conditions before signing can save you thousands of dollars and significant stress. The Legal Framework Behind Property Contracts In NSW, property contracts operate under the Conveyancing Act 1919. In Queensland, they fall under the Property Law Act 1974. Although both states regulate