This cosmopolitan and vibrant area is undergoing an amazing period of growth and rejuvenation. Like cities across the world Brisbane is witnessing a sustained trend to city living and, combined with a very strong economy, this capital city’s heart is alive with activity. Home prices have surged in recent years but you’ll still find good buying in our inner suburbs and plenty of variety of home and lifestyle options.
Life in Brisbane’s inner city… what’s it all about? If you’re new to Brisvegas our inner suburbs are a rich texture of entertainment, culture, subtropical architecture, shopping, workplaces and fresh experiences. It’s a melting pot of cultures where you don’t have to go to a bar to meet people (though we have some great pubs and clubs too!), you’ll find live music almost every night of the week, and a stir-fry or a flat-white on the footpath is a way of life all year round.
Brisbanites have always thrived on a slightly free-spirited approach and love to be told we’re different to our southern cousins. So our inner-city is at the centre of this love of life…
Bees Nees City Realty are a specialist agency covering this city’s inner suburbs. We’d love the opportunity to help find your new home, making the move as hassle free as possible and providing you with all the info you need to settle in. And we might just share a tip for a favourite café or gallery.
We hope you make yourself at home!
What's my cooling off period?
Under Queensland law you have 5 working days (from the working day you receive a copy of the fully executed contract) during which you may choose to not proceed. Be aware that if you exercise this right you will forego a termination penalty of 0.25% of the price. You may choose to waive your cooling off period by having your lawyer complete a Certification Form.
Why is there so much paperwork?!
To protect you of course! Before you sign the actual contract you’ll be asked to acknowledge receiving various statements from the agent relating to your rights (including seeking advice from lawyers and property valuers) and disclosures from the agents. Many of these originated to overcome the activities of ‘marketeers’ some years ago, when these groups sold Sunshine State property to frost-bitten Victorians at artificially inflated prices.
I've been told I need an electrical safety switch.
Sellers have to declare if there’s one already in the home (nominated on the contract), and if not the buyer must have a safety switch installed within 3 months of settlement. It’s also law that all dwellings must have at least one smoke alarm outside sleeping areas and one per floor. See www.fire.qld.gov.au for all the info.
Do I need a lawyer?
Yes, in our view, definitely yes. We occasionally see DIY kits about but given the complexity of the relevant laws and the plethora of government bodies involved in regulating property ownership or impacting on it we consider a lawyer’s fees money well spent. Southerners note all “conveyancers” in Queensland are solicitors – we don’t yet have a separate service provider.
Does the property have any easements?
Easements are a right held by one person to make use of the land of another, eg. drainage, sewerage or a driveway to a second property on a block of land behind another. These are often held by councils, railways, etc and will show on the property’s title details. Your lawyer will check and advise.
What other costs have I got to pay?
The Premier takes his cut in state stamp duty (click to calculate) and Brisbane City Council charge a fee to update their rates invoices for you! Don’t forget connection fees for phones, electricity etc. Building and pest inspections may cost as much as $600-900 and if you’re borrowing to buy your bank is likely to want application fees.
What's a body corporate?
It consists of each owner of a lot (eg. townhouse, duplex, apartment, villa or unit) in a community titles scheme. Upon your purchase of a lot you automatically become a member of the body corporate. A body corporate is generally responsible for the management and maintenance of the scheme’s common property, eg. lawns, access roadways, stairs and infrastructure such as pipes and wiring.
Joint Tenants or Tenants in Common?
If you’re buying in more than one name you can choose how the ownership is shared. “Joint Tenants” means it’s held in equal shares and if one dies, his or her share of the property passes to the surviving owner/s. “Tenants in common” allows for shareholdings in the property that aren’t equal and on the death of one owner, the deceased’s share passes to his or her heir/s, who assume the role of tenant in common with the other existing owner/s.
