Buying a Property
So, you’re buying a property? Awesome! You’ve probably already started making a list of what you need to organise and get done for the purchase, and your big move if it’s your own home. Our question is, is Conveyancing on your list?
At bytherules, we specialise in simple so we’ve put together a quick-reference guide to the Conveyancing process for you, the Home Buyer:
Stage 1: Prior to Contract execution/signing (prior to “exchange”)
What we will do:
- Review your Contract on your behalf prior to execution.
- Draft or proof any documents required.
- Be available to provide any advice or guidance required in relation to the Contract.
- Offer advice on First Home Owners Grant.
- Assist your Real Estate Agent in finalising the Contract.
What you need to do:
- Provide your Contract to us for review.
Stage 2: After Contract execution and the documents are exchanged
What we will do:
- Continue to provide critical event updates when appropriate.
- Available to answer any questions you may have during this time.
- Provide you with full details on all aspects of the sale you need to be aware of, complete with a handy checklist of items you need to confirm, complete with dates.
- Carry out all standard searches for the property.
- Advise you of any additional searches that are appropriate to your property.
- Calculate stamp duty to be paid (as per Government requirements).
- Confirm all items included in the sale of the property.
- Arrange settlement details with the seller’s Conveyancer.
- Advise you of settlement time and location details of settlement once confirmed.
What you need to do:
- Read the correspondence that we prepare for you. It is specifically tailored to your Contract and will help you understand the process.
- Complete the necessary instructions and other relevant paperwork we send to you and return to our office at your earliest convenience.
- Advise us if you require us to conduct any additional and optional searches.
- Arrange building and pest inspection reports for your property.
- Pre-settlement inspection of the property (optional)
- Arrange insurance cover for the property.
- Confirm finance approval for your purchase.
Stage 3: Settlement
What we will do:
- Confirm and advise you of the full settlement amount to be paid, complete with stamp duty.
- A Settlement Agent will arrange and attend the settlement meeting on your behalf.
- Personally advise you when the property is officially in your name.
- Officially confirm settlement in writing.
- Arrange for keys and any security devices to be delivered to your Agent.
What you need to do:
- Arrange removals, disconnection and reconnection of utilities, and change your address where appropriate.
- Breathe, be happy and move into your new home, knowing all your Conveyancing needs are done!
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For explanations on any terms used here, please refer to our Glossary. If you have any questions, please contact us online or call on 1300 22 33 44. We are happy to offer legal advice, free of charge and obligation.
If you would like us to look after you through your property transaction, simply request a quote using our easy online form, or call us on 1300 22 33 44.