Vacant land is becoming one of Queensland’s most in-demand assets. Buying land is an exciting time in many people’s lives as it brings you a step closer to building your dream home. However, it’s important you avoid any pitfalls by discussing your potential land purchase with our team of property lawyers and conveyancing specialists. Our team at FC Lawyers has over 25 years’ experience in assisting clients wanting to buy vacant land.
What does our team of property lawyers and conveyancing specialists do for you?
When you’re buying vacant land, our team will:
- Review your contract
- Monitor all relevant dates of the contract
- Submit searches on your behalf and review the outcomes of the searches
- Request any contract extensions and satisfaction of contract conditions
- Liaise with financier in arranging settlement (if required)
- Stamp and lodge stamp duty
- Deal with any concessions for stamp duty which may be available to you including the vacant land concession
- Prepare settlement figures
- Arrange shortfall for settlement
- Complete and attend settlement
How can you claim the first home vacant land concession?
You can claim the first home vacant land concession if:
- You buy vacant land with a value less than $400,000
- You are at least 18 years of age
- You have never bought and held an interest in land
- You will only build 1 home on the vacant land
- No building is on the land when purchased
- You haven’t claimed a first home vacant land concession before.
There are a few obligations you must adhere to once you have claimed your first home vacant land concession, which our team will guide you through if you are eligible. There are financial consequences should you not adhere to the conditions of the concession.
What should you do next?
Contact our team today to discuss your options when buying vacant land. As mentioned above, there are a few factors involved that our team will assist you with and ensure you purchase your vacant land, without any financial issues.