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Property Purchase Conveyancing Process

Property purchase process is briefly explained here & you can Calculate your Conveyancing Costs in Seconds below. 

 

Property owner or estate agent  must have a contract of sale prepared which is provided to a prospective purchaser. Please ask for the Contract of Sale & discuss this Contract with us before signing on it.

 

1. BEFORE SIGNING THE CONTRACT

YOUR TO-DOs

  • COPY OF THE CONTRACT
    Please ask the Real Estate Agent for a copy of Contract of Sale & email it to us. Forward this copy to us for review. Send us a copy of the Contract >

  • REVIEW OUR CONTRACT FEEDBACK
    Review our contract feedback. Ask any questions that you might have regarding the contract or Conveyancing in general. Tell us about any conditions that you want changed or added to the Contract of Sale.

  • GET FINANCE APPROVAL
    Discuss your intention to purchase a property with your Mortgage Broker or Banker. We can recommend professional Mortgage Brokers if you need help.

  • COMPLETE PROPERTY INSPECTIONS
    We recommend that you complete inspecting the property before the Cooling Off Period finishes. This means that if you're attending an auction, then inspections are best completed before attending auction. We can assist you in organising Property Inspections.

OUR TO-DOs

  • CONTRACT REVIEW FEEDBACK
    We will review the contract & provide written feedback to you. Plus answer any concerns or questions that you might have about the Contract or Conveyancing process.

  • CHANGES TO THE CONTRACT
    We  will recommend changes to the contract as part of our review of the contract. We will then ask you for any changes that you want made to the contract. We seek these changes to the contract via the Seller's Conveyancer.

  • PREPARE YOU TO SIGN CONTRACT & PAY DEPOSIT
    We will assist you in getting ready to sign the contract and paying the deposit money. Whether you're attending an auction or buying via a Real Estate Agent or buying without a Real Estate Agent, you will need advice specific to your situation.

    Remember that there is usually no Cooling off Period in Auction sales. Sellers can insist that you waive the Cooling off Period off. It's thus best to complete all your due diligence before signing the contract and/or before cooling off period finishes (if Cooling off Period applies).

 

2. SIGNING THE CONTRACT & PAYING DEPOSIT 

YOUR TO-DOs

  • PAY DEPOSIT
    The deposit is usually 10% of the purchase price unless negotiated otherwise. It can be paid via cash or deposit bond, please discuss this with us.

  • SIGN THE CONTRACT
    Whether you sign the contract at our office, at the real estate agent's office or at auction, we will assist as needed.

OUR TO-DOs

  • GET CONTRACT READY TO BE SIGNED
    We'll complete any negotiations to the contract and ensure the contract is ready to be signed. If needed, we'll send the contract to you to be signed.

  • EXCHANGE OF CONTRACTS
    We'll assist in exchange of contracts as required which usually means we forward the contract you have signed to the seller's Conveyancer with your written authority.

3. AFTER COOLING OFF PERIOD FINISHES 

YOUR TO-DOs

  • MORTGAGE
    Please complete all bank paperwork & ensure loan money is ready ASAP and certainly for settlement.

  • GRANTS & EXEMPTIONS
    For First Home Owners Grant, please complete paperwork with your Bank that you're getting Mortgage from. Discuss if you're eligible for Stamp Duty exemption or concession with us.

  • FINAL INSPECTION OF THE PROPERTY
    Organise a final inspection of the property with the Real Estate Agent. 

  • ORGANISE UTILITIES
    Disconnect and connect utilities to the property as required.

OUR TO-DOs

  • ORDER SEARCHES 
    We'll order searches & inform you if any extra searches are required. Some searches are required by your Lender or Bank (that you're getting Mortgage from)

  • LIAISE WITH YOUR BANK
    We work closely with your Lender or Bank to get ready for settlement.

  • FIRST HOME OWNERS STAMP DUTY EXEMPTION
    If you're eligible, we'll assist you with this.

  • GET READY FOR SETTLEMENT
    We'll complete all Conveyancing tasks and be ready for settlement.

 

4. SETTLEMENT 

YOUR TO-DOs

  • PROPERTY POSSESSION
    • If you're an investor & the property is tenanted - provide you bank account details to the Real Estate Agent to receive rent.
    • If you're going to live in the property, organise a time with the real estate agent to get the keys of the property.
    • Discuss your specific situation with us.

  • SIT BACK & RELAX
    With Sydney Conveyancing working by your side, you can sit back and relax.

OUR TO-DOs

  • ATTEND TO SETTLEMENT
    We'll  attend to Settlement proceedings as required including liaising with your Lender or Bank and the seller's Conveyancer.

  • INFORM THE REAL ESTATE AGENT
    We will inform the Real Estate Agent when settlement has occurred.

  • INFORM AUTHORITIES
    We'll inform the Local Council, Water Body, Strata (if strata property) & Department of Lands.

  • SAVE YOUR MATTER
    We'll hold onto your matter for at least 7 years so any subsequent property transactions are easy for you.

This is a generic process & is not legal advice. Please discuss your specific situation with us.

 

Buying Property in New South Wales

You don't have to visit our office usually. That is why we complete hundreds of matters successfully every year from across NSW.

 

BUYING PROPERTY AT AUCTION

For every auction you attend you could potentially be completing several of the tasks listed below. This process could become tedious so getting good legal advice from SYDNEY CONVEYANCING could help.

 

IMPORTANT FACTS & TO-DOs

  • NSW Law requires that a contract of sale must be ready & be provided to potential purchasers. As soon as you have decided to attend auction a given property:
    • There will be no Cooling off Period which means the contract will become binding upon you immediately.
    • 10% deposit usually has to be paid at auction unless negotiated otherwise.
    • Ask the Real Estate Agent for a copy of the Contract of Sale.
    • Forward that Contract to us for review, feedback & advice to you, negotiating terms & conditions of the contract. Send us a copy of the contract >
    • Organise a final loan approval. If you need assistance with getting Mortgage, please discuss this with us.
  • You should complete your due diligence before attending auction. Your due diligence could include:
    • Contract review & amendments - We thoroughly review the Contract, send written feedback to you, answer your questions regarding the contract & conveyancing and negotiate terms of the Contract as per your directions. Send us a copy of the Contract >
    • Property inspections such as your own inspection of the property, building / pest / strata inspections.
    • Finance approval must be discussed with your Lender or Bank or Mortgage Broker. It would be prudent of you to have a pre-approval or a final approval in place before attending auction.

  • We suggest that you be prepared in advance for the DUE DILIGENCE phase whereby we (you as the buyer & us as your Conveyancers) get ready for auction in time. This could mean keeping yourself available for inspections, evaluations, mortgage approval & other preparatory work if required.

  • We liaise with seller's Conveyancers & negotiate Contract conditions as required and as discussed with you. Your approval of the potential changes to contract & other queries is essential. We thus suggest that you start this process a few days before auction.

  • You should get thorough professional advice prior to selling property at auction. Timely and professional advice from Sydney Conveyancing can assist you with making the most of buying property at auction.

 

 

Calculate your Conveyancing Fees in Seconds >

 

 

GUARANTEED FIXED PROFESSIONAL FEES

Fixed professional fees & fully detailed costs upfront means that our clients are never surprised.

EXPERIENCE & EXPERTISE THAT YOU DESERVE

A Licensed Conveyancer handles your matter, assisted by an experienced matter owner to complete your matter timely & safely.

YOU DON'T HAVE TO VISIT OUR OFFICE USUALLY

Our processes reduce the need for you to travel to our office usually. Vast majority of our clients never visit our office.

 

Buying your property via Real Estate Agent

MUST KNOW FACTS & TO-DOs

  • NSW Law requires that a contract of sale must be ready & be provided to potential purchasers. As soon as you have decided to buy a given property:
    • Ask the Real Estate Agent for a copy of the Contract of Sale.
    • Forward that Contract to us for review, feedback & advice to you, negotiating terms & conditions of the contract. Send us the Contract of Sale >
    • Organise a final loan approval. If you need assistance with getting Mortgage, please discuss this with us.
    • Usually you pay 0.25% deposit at the time of signing the contract and this deposit is non-refundable.
    • 10% deposit usually has to be paid before Cooling off Period expires, unless negotiated otherwise.
    • A 5 work day Cooling off Period applies which is often negotiated to be longer to help Purchasers complete their due diligence.
  • We liaise with Seller's Conveyancer or Solicitor or Real Estate Agent to get you ready to sign the Contract as per your desired timeline. 

  • Complete your due diligence which often includes property inspections, finance approval, contract review & amendments before the cooling off period ends. Some Purchasers will even want to complete property inspections & negotiations of the contract prior to signing the contract especially when there is no Cooling Off Period. 

  • We thus suggest that you be prepared in advance for this phase whereby we (you as the buyer & us as your Conveyancers) can get you ready to sign the contract and complete all due diligence within the cooling period. This could mean keeping yourself available for property inspection (s), completing your Lender or Bank's paperwork, going through the legal aspects of the purchase with us and  reviewing building / pest / strata (for strata properties) inspections that we can help you organise.

  • It is best to discuss your purchase with us as soon as you have located a property that you want to buy.

 

 

Calculate your Conveyancing Fees in Seconds >

 

 

URGENT CONTRACT REVIEWS CAN BE ORGANISED. IT'S BEST TO GET LEGAL ADVICE BEFORE SIGNING A CONTRACT

If you must have the contract reviewed urgently, please let us know so we can plan accordingly. Every contract is unique and their reviews do take time & effort - so it's best to start this process ASAP.

PROPERTY MARKETING CAN BE DONE ONLY WHEN CONTRACT OF SALE IS READY

A property seller and/or estate agent can only start marketing the property or place a property on the market (as per NSW Law) when a contract of sale has been prepared which is provided to all prospective purchases.

ARE YOU PREPARED COMPLETE YOUR DUE DILIGENCE?

Most purchasers will have the property inspected & often their banks will evaluate the property before their Mortgage is approved. We suggest that you understand & plan your due diligence early and discuss it with us.

 

Buying property without Estate Agent

MUST KNOW FACTS & TO-DOs

  • We assist clients buy property without involving a Estate Agent or directly from the Seller everyday.

  • Because there is no Real Estate Agent, some of their responsibility will naturally become yours & ours. Most of this responsibility is expected to be taken by the Seller. Please discuss your purchase with us as early as possible.

  • NSW Law requires that a contract of sale must be ready & be provided to potential purchasers before a property is marketed. One of the first tasks for you is to ask the Seller for a copy of the Contract of Sale. We will work closely with you to get the Contract Reviewed ASAP so that you can start gaining an understanding of your commitments if you buy a property without involving a Real Estate Agent. 

  • You should complete your due diligence which often includes property inspections, finance approval, contract review & amendments before the cooling off period ends and if possible before signing the contract. Both methods have their positives and negatives. Some buyers prefer to complete property inspections & negotiations of the contract prior to signing the contract especially if there is no cooling off period.

  • We suggest that you be prepared in advance for this whereby we (you as the buyer & us as your Conveyancers) get you ready to sign the contract and complete your due diligence within the cooling off period or before signing the contract if there is no cooling off period. This could mean keeping yourself available for completing Mortgage paperwork, property, building / pest / strata (for strata properties) inspections. Again, because there is no Real Estate Agent involved, some of their responsibilities could become part of your to-dos. 

  • We liaise with Seller's Conveyancers & their queries promptly. Your approval of the potential changes to contract & other queries that are sent to the seller's Conveyancer is essential. 

 

 

Calculate your Conveyancing Fees in Seconds >

 

 

 

 

Conveyancing made easy

Our process is such that you don't have to visit our office usually. It's mostly done via phone, email & post.

 

First Home Buyers

MUST KNOW FACTS & TO-DOs

  • We assist First Home Buyers everyday. We understand that you are new to buying property.

  • We will guide you through the entire process, working closely with you every step of the process.

  • Our Property Purchase Conveyancing Guide (sent to you during our Conveyancing process) and Conveyancing Checklist will assist you through what may seem like a complex process.

  • NSW Law requires that a contract of sale must be ready & be provided to potential purchasers before a property is marketed. Contract of Sale is the main legal document during this process. So, one of your first to-dos is to ask for a Contract of Sale from the Real Estate Agent & forward it onto us.

  • Reviewing that Contract and explaining the contract to you will help you gain an understanding of your commitments when you buy a property.

  • You should get a Conveyancing Quote to get a clear understanding of the Conveyancing fees that you will be paying.

  • You should complete your due diligence which often includes property inspections, finance approval (discuss with us if you don't have a Mortgage broker), contract review & amendments before attending the cooling off period ends. Some buyers will even want to complete property inspections & negotiations of the contract prior to signing the contract especially if there is no cooling off period.

  • We suggest that you be prepared in advance for this phase whereby we (you as the buyer & us as your Conveyancers) get you ready to sign the contract and complete your due diligence within the cooling off period or before signing the contract if there is no cooling off period. This could mean keeping yourself available for completing Mortgage paperwork, property, building / pest / strata (for strata properties) inspections. 

  • We liaise with Seller's Conveyancers & their queries promptly. Your approval of the potential changes to contract & other queries that are sent to the seller's Conveyancer is essential. 

 

 

Calculate your Conveyancing Fees in Seconds >

 

 

 

Fixed professional Fees mean no surprises

We share & disclose all fees & charges with you upfront

Calculate your Property Purchase Conveyancing costs in seconds

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