Buyer Information

Cooktown Real Estate formerly known as Rainforest Real Estate has been selling property in Cooktown nearly 25 years and the staff are all locals who have lived here for equally as long if not longer. We have the most listed properties for sale and will endeavour to match your needs.

Use our unique search results to filter by location, property type, bedrooms, bathrooms, garage, min or max price. You can also choose your preferred display amount, or sort the results by location, price or recently updated.

 

Want to buy a Property – you need to provide the following.

  • The full name/s of the Buyer/s, and their address
  • The name of Solicitor who will be doing the conveyancing for you
  • The amount of deposit – between 5% and 10% of the purchase price is recommended (deposit can be paid by
  • electronic transfer)
  • The amount of the offer
  • Finance Approval from your Bank within 14 to 21days of the Contract date
  • Building and Pest Inspection by licensed inspectors within 14 days
  • Any other special conditions?
  • Settlement Date (the date you take over ownership, and pay the rest of the purchase price) (total of 30 to 45days from date of contract).

 

Legal Costs

You will need a Solicitor, Lawyer or Conveyancer to attend to the searches and paperwork for the purchase or sale of a property. A Conveyancer will probably be the least expensive option, but you may already have your own lawyer. It must be a Queensland lawyer.

As a guideline, buyers can expect to pay between $600 and $800 for conveyancing, plus searches and government stamp duty. Allow around $1,000 for searches. Some Conveyancers will give you a quote that says “plus outlays” – the outlays are not necessarily just searches – make sure you ask!

REIQ Membership

As a member of the REIQ, we are able to offer all clients a superior level of consumer protection – Buyers and Sellers who deal with agents who are not members may not have as high a level of consumer protection. For example, one requirement for membership is that we have appropriate Professional Indemnity insurance. Another is that we abide by the REIQ Code of Ethics. And another is that we must keep up-to-date with legislative and other changes through compulsory annual training. Don’t assume that any Agent is a member of the REIQ. To learn more about why you should choose an REIQ Member Agent to sell your property.

Documentation

Your Agent will ask you to sign a POA Form 6. This is not part of the Contract, but it is a State Government requirement. The property cannot be advertised or promoted, offered for rent or sale in any way until this form is signed. All documentation required from our office can now be emailed, signed, scanned and returned.

Once you sign a Contract, to purchase a property it is considered a “verbal offer”. There may be several “counter-offers”, when the price and/or terms are changed, once everything is agreed, a Contract is drafted and signed by the buyer, once signed by the seller, the documents are considered “fully executed Contracts”. The Agent will write on the Contract Date and the Contracts will be emailed to the Solicitors for processing. You (the buyer) will be given a photocopy for your records.

The REIQ and the Office of Fair Trading both provide comprehensive information for Buyers, and there is more information on purchasing a property on their websites. All we can add is that once you are confident that the property meets your criteria in terms of its attributes, location and price range … buy it!