Buying a Property in NSW – Residential Conveyancing Services
Helping you ensure your property purchase is smooth and settles on time
The purchase of property, whether it be your first home or your third property, will be one of the most significant purchases in your lifetime. The process can be quite complex and requires an experienced property lawyer to help guide you to a successful settlement.
The New South Wales conveyancing process is vastly different to that of Queensland. One of the most vital steps we take is to review the contract to ensure that all searches have been included.
Our team can assist you with the purchase of your:
- Vacant Land;
- Off the plan property.
At Attwood Marshall Lawyers, it is our aim to make your home buying process as stress free as possible. Good legal advice can make or break a successful property purchase, and it can even allow you to negotiate a better deal. Our team can assist you from beginning to end with preparing and meeting the terms of the contract, undertaking thorough property searches and completing the settlement.
Attwood Marshall Lawyers are a leading PEXA certified electronic conveyancing firm. Our streamlined e-conveyancing process allows us to complete property settlements in conjunction with other lawyers, conveyancers and financial institutions quickly and effectively. We can lodge all the required documents and transfer funds in real time in a digital environment that reduces the risk of any errors or delay. You can have confidence and peace of mind in knowing your residential purchase will settle on-time.
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Conveyancing is the legal process of transferring the title of a property from one person to another.
Once your offer has been accepted, the estate agent will issue a sales advice to both parties solicitors. The Vendor’s solicitor will prepare the contract and issue it to the Purchaser’s solicitor.
Unless there is a fixed date for any conditions or settlement, once each party have signed their contracts and when the purchaser has paid the deposit, the contract will be submitted to the Vendor’s solicitor for exchange. The date of the contract will trigger the start of the conditions and settlement.
If you are a first home buyer, you may be eligible for a concession under the First Home Buyers Assistance Scheme. If you are not a first home buyer, you are required to pay Transfer Duty. This is payable on settlement. If your completion period is longer than three months, it is payable three months from the date of the contract.
We recommend you undertake a final inspection either the day prior to settlement or on the morning of settlement. This is to ensure that the property is in the same condition as it was at the date you entered into the contract, including all rubbish being removed.
Transfers in NSW are required to be affected through PEXA. There is no requirement for you to attend settlement. We will confirm with you once settlement has been finalised and will notify the agent that they can release the keys.
On settlement we lodge a form with the Transfer called a Notice of Sale, this form notifies all authorities, including Council that you have sold or purchased the property.
If you have a bank, they will register a mortgage on the title and hold control of the title until you have paid out the mortgage. If you do not have a mortgage, we will receive a certificate of title from Land Registry Services and can place this in our strongroom for safekeeping for you.