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	<title>International Property Buying Process &#187; Australia</title>
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	<description>Real Estate Registration Process in Over 200 Countries</description>
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		<title>Process of Registering and Buying Property in Australia</title>
		<link>http://www.buying-process.com/buying-property-in-australia/process-of-registering-and-buying-property-in-australia/</link>
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		<pubDate>Fri, 14 Nov 2008 07:20:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Australia]]></category>
		<category><![CDATA[Australia property law]]></category>
		<category><![CDATA[Australia real estate law]]></category>
		<category><![CDATA[buyers' guide Australia]]></category>
		<category><![CDATA[buying real estate in Australia]]></category>
		<category><![CDATA[registering property in Australia]]></category>

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		<description><![CDATA[Step 1: File for a title search certificate, maps, land tax certificate, easements and covenants recorded on the title from the Land and Property Information Department
Completion Time Frame: 1 day (30 seconds online, 30 minutes over the counter) (simultaneous with procedures 2 and 3)
Completion Costs: AUD 10.5 each item x 5 items = AUD 52.5
Points [...]]]></description>
			<content:encoded><![CDATA[<h3>Step 1: File for a title search certificate, maps, land tax certificate, easements and covenants recorded on the title from the Land and Property Information Department</h3>
<p><strong>Completion Time Frame:</strong> 1 day (30 seconds online, 30 minutes over the counter) (simultaneous with procedures 2 and 3)<br />
<strong>Completion Costs:</strong> AUD 10.5 each item x 5 items = AUD 52.5<br />
<strong>Points to Note:</strong><br />
The seller is responsible for obtaining a title search, plans, easements and covenants recorded on title from the Land and Property Information department. These documents must be attached to the contract for sale (prescribed documents).</p>
<hr />
<h3>Step 2: File for a Zoning Certificate from the Municipal Council</h3>
<p><strong>Completion Time Frame:</strong> 2 days (about 7 days to return by post) (simultaneous with procedures 1 and 3)<br />
<strong>Completion Costs:</strong> AUD 100<br />
<strong>Points to Note:</strong><br />
The seller is responsible for obtaining a Zoning Certificate from the Municipal Council. This document must be attached to the Contract for Sale (prescribed documents). A Building Certificate can also be obtained from the Municipal Council, but it is not mandatory.</p>
<hr />
<h3>Step 3: File for a Drainage Diagram from the local water authority</h3>
<p><strong>Completion Time Frame:</strong> 1 day (can be done online, then wait 7 days for return by post) (simultaneous with procedures 1 and 2)<br />
<strong>Completion Costs:</strong> AUD 22.1 (includes service fee)<br />
<strong>Points to Note:</strong><br />
The seller is responsible for obtaining a Drainage Diagram from the water authority. This document must be attached to the contract for sale (prescribed documents).</p>
<hr />
<h3>Step 4: Contracts for Sale must be stamped with ad valorem stamp duty (i.e. according to value) at the Office of State Revenue</h3>
<p><strong>Completion Time Frame:</strong> 1 day (over the counter)<br />
<strong>Completion Costs:</strong> Stamp duty, according to the following schedule of tariffs on a sliding scale:</p>
<p>Value of property + GST (in AUD)     Stamp Duty (in AUD)<br />
Below 14,000     1.25<br />
From 14,001 to 30,000     175 + 1.5% of excess over 14,000<br />
From 30,001 to 80,000     415 + 1.75% of excess over 30,000<br />
From 80,001 to 300,000     1,290 + 3.5% of excess over 80,000<br />
From 300,001 to 1,000,000     8,990 + 4.5% of excess over 300,000<br />
Over 1,000,000     40,490 + 5.5% of excess over 1,000,000<br />
<strong>Points to Note:</strong><br />
If there are no outstanding interests in the property, then the solicitor for the buyer prepares a Transfer form (obtained from the Department or available online) for execution by the seller.<br />
The transfer may also be completed by the buyer. The Transfer form (and others) are available in a PDF format on the LPI website at:</p>
<p>http://lpi-online.lpi.nsw.gov.au/e-rpforms/index.html</p>
<p>The forms are interactive with popup notes to assist with their completion.<br />
The contract is sent to the Office of State Revenue and stamp duty is paid (by purchaser).<br />
If stamping of the Contract does not occur within 3 months of exchange penalty duty is payable on the amount of stamp duty payable at the rate of 14.37% per annum.</p>
<hr />
<h3>Step 5: Notice of Sale, Transfer and Certificate of Title are lodged with Land and Property Information by the Buyer</h3>
<p><strong>Completion Time Frame:</strong> 1 day—minutes face to face, up to 2 days bulk lodgment<br />
<strong>Completion Costs:</strong> AUD 90<br />
<strong>Points to Note:</strong><br />
The Transfer and Certificate of Title (owner’s copy) are then sent to the Land and Property Information Department for registration.</p>
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