- What is conveyancing?
- Conveyancing is the legal process of transferring ownership of real property from a seller to a buyer. It involves preparing and reviewing the contract for sale, conducting property searches, arranging the exchange of contracts, managing the settlement process, and registering the transfer of title with NSW Land Registry Services.
- How long does the conveyancing process take?
- A typical residential conveyancing transaction takes 4–8 weeks from exchange of contracts to settlement. The cooling-off period (5 business days for residential property in NSW) runs from exchange. The settlement period is usually 6 weeks, though this can be negotiated. Off-the-plan purchases and complex transactions may take longer.
- What searches are required when buying a property?
- Standard searches include a title search, a zoning certificate (section 10.7 certificate), a land tax certificate, a drainage diagram, and a strata inspection report (for strata properties). Additional searches — such as a building certificate, a flood report, or a contaminated land search — may be recommended depending on the property. We advise on which searches are appropriate for your purchase.
- What is the cooling-off period?
- For residential property purchases in NSW, there is a 5-business-day cooling-off period after contracts are exchanged. If the buyer withdraws during the cooling-off period, they forfeit 0.25% of the purchase price to the seller. The cooling-off period can be waived, extended, or shortened by agreement. There is no cooling-off period for properties purchased at auction.
- What happens at settlement?
- At settlement, the buyer's legal representative and the seller's legal representative (and usually their respective banks) meet to exchange the final documents and funds. The buyer pays the balance of the purchase price, the seller hands over the certificate of title and keys, and the transfer of title is lodged for registration. Settlement is now commonly conducted electronically through the PEXA platform.
- How much does conveyancing cost?
- Conveyancing costs include our professional fees and disbursements (search fees, title registration fees, and PEXA fees). We provide a fixed-fee quote at the outset so you know the total cost before you proceed. Stamp duty (transfer duty) is a separate government charge calculated on the purchase price or property value.
