Conveyancing and Property Lawyers Sydney Solicitors

Property is our passion

First home buyers

Gain up to $10,000

Stamp duty exemption

Save up to $17,990

THE PROCESS OF BUYING A PROPERTY

Before exchange of contracts

  • Contact us to give you information on the process to purchase a property.

Arrange finance

  • Find out how much you can borrow.
  • Obtain written loan pre-approval, and preferably written unconditional loan approval (which usually occurs after any lender that you re using has carried out a valuation of the property). 
  • Clarify if you are eligible for the $7000 first home owner grant or first home plus stamp duty exemption/concession.
  • Ascertain the amount you have to spend on the purchase allowing for stamp duty, if applicable, and other purchase costs.
  • Be sure that you can meet any conditions that your lender will impose

Decide upon and setup the structure that you will use to acquire the property

  • Consider whether you will purchase the property in your own name or in another entity.
  • If you will plan to use an entity other than yourself to purchase the property set up that structure.
  • If you do not set up the structure early then you may not have enough time to set the structure up before exchange of contracts because there is another buyer that is ready to purchase the property

Look for and find property that you like

  • Obtain a copy of the contract for the property

Bring the contract in to us and our conveyancing solicitors can advise you on it

  • Arrange to forward the contract to our office by hardcopy or by email to info@conveylaw.com.au and our conveyancing solicitors can review the contract for you
  • We will order any pest, building, survey or strata reports you require and instruct us to order for you
  • Alteratively if the property is a strata property we will on your instructions order a strata report
  • You decide on your next steps based on the information in the inspection reports.

Negotiate the purchase price

  • noting the information in the reports

We will negotiate the terms of the contract based on your instructions

Consider your cooling off rights

  • Our conveyancing solicitors can advise you on your cooling off rights and give you information to help you decide whether you would like to waive these rights. Cooling off rights are automatically waived (given away) at auction.

Exchange of contracts

  • You approve and sign the contract
  • If you have instructed that you would like to waive your cooling off rights then our conveyancing solicitor can sign the section 66W certificate
  • It is at this point that you pay the deposit;
  • Our solicitor will arrange exchange of contracts

Post exchange and pre settlement

We will, on your instructions

  • order and check certain searches such as rate and departmental enquires
  • assist you to meet any requirements imposed on you by your lender
  • send requisitions (questions about the property) to the vendor's lawyer
  • contact your lender to arrange preparation of mortgage documentation
  • liase with your lender to ensure they are prepared for settlement
  • Prepare settlement figures and book settlement with your lender and the seller's solicitor 
  • Prepare a property transfer and arrange to have the Transfer and Contract for Sale stamped (stamp duty paid)
  • Advise you and your lender of cheque details for settlement 

If you request us to do so we can also:

  • explain mortgage documents to you
  • send loan requirements back to lender
  • help you complete the First Home Owners Grant Forms, if applicable
  • help you complete the First Home Buyers Stamp Duty Exemption Form, if applicable

You need to arrange for the balance of payment for the property, including the stamp duty (where applicable) to be paid to us by the settlement date, with bank cheques, as directed by us.

The day before settlement you will need to do a final inspection of the property
and notify us if there are any issues to be resolved;

Settlement

  • We will attend settlement.
  • This is the day on which you pay the balance of the purchase price to the vendor
  • You collect the keys;

Post settlement
The property is yours to move in to.
You can arrange connection of services.
Alternatively your property will be available to lease out to your tenant.

Find out more about how our conveyancing solicitors can help you buy your property.

Call 9232 0050 or send us an email to info@conveylaw.com.au.

Our mission is to provide you with the best service.  

Contact us to see how we can help you

Phone:02 9232 0050