Buying Property
Buying property is one of the most significant financial transactions you’ll ever make.
With over 13 years experience in conveyancing and property law, understanding the NSW conveyancing requirements is essential to protecting your interests.
We walk you through every stage of the conveyancing journey, from initial contract review to final settlement, providing clarity on your legal rights.
On average, buyers inspect 3-5 properties before they finally secure the right one. We understand the hesitancy to pay legal fees for multiple contract reviews so we have removed this cost barrier to assist buyers*.
Contact us below for a no obligation free contract review.
*Excludes Off The Plan/Unregistered Land. No Obligation, Free Review
Buying Process
Step 1 - Pre Approval
A loan pre-approval will guide you on how much you can borrow.
Getting pre-approved early signifies to the Vendor that you are a serious buyer and allows you to negotiate more favourable terms.
Step 2 - Review of Contract
Allied Conveyancing will carefully review the Contract, advising you of any risky terms and negotiating amendments on your behalf.
If you sign the Contract at Auction or without a cooling off period, you will be locked into the Contract and will be bound to complete the contract regardless of whether you are happy with the condition of the property or the terms of the Contract.
Step 3- Signing & Exchange
When Contracts are signed and dated by both Purchaser and Vendor, the Contracts are now 'exchanged'. You will be required to pay the 0.25% deposit at the time of signing.
Buyers are generally entitled to a 5 business day cooling off period. If you elect to not proceed with the purchase during the cooling off period, you will forfeit the 0.25% deposit.
Step - 4 Cooling off Period
Buyers are generally entitled to a 5 business day cooling off period. If you elect to not proceed with the purchase during the cooling off period, you will forfeit the 0.25% deposit.
The cooling off period can be an intense period for many. The purpose of the cooling off period is to ensure that you are satisfied with your loan approvals, the terms of the contract and the condition of the property before you get locked into the Contract.
Step 5 - During the Cooling Off Period
What we advise should take placing during the 5 business day cooling off period:
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Conduct a pest & building inspection to unveil any hidden structural defects and pest issues. Our conveyancers will assist you with arranging this.
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Conduct your own inspection of the property and ensure that all inclusions (stove, air conditioning, garage doors etc.) are in working order.
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Finalise the contract negotiations;
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If you intend to borrow funds to complete your purchase, obtaining unconditional loan approval is essential to ensuring that you will have the funds to complete your purchase.
We advise against continuing with the purchase unless you are satisfied with the terms of the Contract, the property and it's current condition and you have obtained unconditional loan approval.
Step 6- Unconditional
Once the cooling off period has expired, Contracts are now unconditional and binding on all parties.
Allied Conveyancing will prepare the forms required for settlement, advise you of the next steps and order the required searches.
During this time you will be required to sign your loan documents, arrange for building insurance, arrange for removalists and arrange for the connection of utilities.
We will continue to work alongside your lender and the seller to organise settlement.
Step 7 The Week Before Settlement
Our Conveyancers will prepare settlement figures and advise you of the funds required for settlement.
You should also contact the agent to organise a final inspection of the property to ensure that the property is in the same state as when you first inspected.
DAY OF SETTLEMENT
Once you are satisfied with the final inspection of the property, Allied Conveyancing will attend to settlement on your behalf including the payment of stamp duty.
Congratulations on your purchase! you may now collect the keys from the agent.
Get Your Contract Reviewed
Mon - Fri: 9am - 5pm
Saturday: 9am - 2pm
Sunday: Closed
