The Step By Step Process In Conveyancing (NSW)

The Step By Step Process In Conveyancing (NSW)

Conveyancing solicitors in Chatswood are a vital part of any property or land sale transaction.

They provide services to completely streamline a property sale or purchase.

It’s already stressful enough when you’re buying or selling, so having a dedicated and experienced conveyancing lawyer or solicitor, like TY Lawyers in Chatswood, gives you many benefits:

  • Saves you time, as conveyancing solicitors can easily decipher legalise in property or land sales and/or purchase contracts
  • Assist you with putting together property contracts
  • Reviews property contracts and provides feedback, guidance and recommendations along with highlighting any potential red flags or issues with a purchase or sale before you proceed
  • Gives you peace of mind, as the conveyancing solicitor in Chatswood is there to protect your legal rights with respect to the property transaction, acting as your representative
  • Takes care of the many legal documents, checks, inspections of the property, and lodgements to avoid mistakes that can lead to costly expenses, fines, or legal complications

So given a property purchase or sale is a big thing that doesn’t happen everyday, it makes sense to invest in the right assistance so you’re covered, with a conveyancing lawyer in Chatswood.

Steps In The Conveyancing Process For Buyers

Although your conveyancing solicitor in Chatswood will manage this process, it’s a good idea to know what goes into it and what happens behind the scenes.

Here’s a top level guide to the stages in the conveyancing process when purchasing land or a property:

  1. Before you do anything, the main thing is, to find that new property of your dreams!

Whilst you’re out there searching, it’s a good idea to start thinking about a conveyancing lawyer or property lawyer in Chatswood that you could engage with, so you can hit the ground running once you’ve started negotiations on the property you want.

You don’t want to be left scrambling for a good property lawyer in Chatswood if you find what you’re looking for faster than you thought.

You can search online or get in touch with our conveyancing solicitors team in Chatswood – we’ve been helping clients for many years with their property and conveyancing requirements.

  1. When you find a property you like, you can request a copy of the contract

The contract will include all the important details of the property, any special conditions, names and other relevant information pertaining to the property.

  1. Offer, acceptance and holding deposit

An offer can be made at this point and if the seller accepts, a small holding deposit can be made by the buyer, demonstrating intention to purchase.

A conveyancing solicitor in Chatswood can be engaged to review the contract for you.

A conveyancing solicitor or property lawyer in Chatswood is someone who manages and facilitates the sale transaction of a property from a seller to a buyer and also prepares legal documents needed for it, ensuring you comply with all state based regulations along the way.

  1. Deposit paid

If there are no changes required to the contract and all terms are accepted and signed by both parties, contracts are considered ‘exchanged’ and the buyer then pays a deposit, generally 10% of the purchase price.

Your conveyancing solicitor in Chatswood can hold the deposit in trust for you, along with the real estate agent too, as another option.

  1. Cooling off period, building and pest inspections

A ‘cooling off period’ is a time frame where you can cancel the purchase after signing the contract. During this time it’s a good idea to conduct building and pest inspections.

Although this can incur a fee, the cooling off period is a timeframe where you can choose to not proceed for a particular reason.

  1. Other formal steps continue

After the cooling off period, a number of other things are happening in the background including transfer title document preparation, stamp duty payment within 3 months of signing the contract and any settlement adjustments.

A pre-settlement inspection is also recommended to ensure nothing has been damaged or dramatically changed since the contract was signed.

  1. Settlement

Settlement is mainly done electronically these days.

It involves the buyer paying the remainder of the purchase price to the seller which then acts as the final step in the transfer of property ownership. The buyer can then expect to get the house keys from the realtor to their new property!

Get an instant conveyancing quote with our easy tool at the bottom of this page, here.

Contact us today to discuss your individual situation and one of our experienced conveyancing or property lawyers at TY Lawyers Chatswood will be able to assist you.

Call us today, on: (02) 8007 0135.

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