Before you make an offer on a property, a conveyancer should review the Contract of Sale and Section 32. A conveyancer will alert you to anything concerning such as special conditions, planning and zoning, building compliance and more. Based on this information, you will be able to make an informed decision about whether or not to make an offer on the property. This’ll avoid any nasty surprises post-settlement, save you distress and possible financial woes.

If you bid at auction, the sale is unconditional. If your offer is accepted by the vendor, 10% deposit is paid on the day of the auction directly to the selling agent, who transfers it into a trust account. If you buy via private sale, the deposit is paid once both parties have signed and exchanged contracts.

Absolutely. You’re legally entitled to conduct a final inspection before you settle. This can happen one week prior to settlement, not any time sooner. During the final inspection, walk through the entire property (inside and out) and check everything is exactly as it was on the day of the sale. If anything is different, speak to your conveyancer immediately who will help solve this before settlement.

Yes, we recommend you take out home and building insurance as soon as you purchase the property. This covers you for any damage that may occur during the contractual period and after settlement.

No, settlement is conducted online via PEXA so there’s no paperwork or anything else to collect from our office. We will call you once your property has settled and you can then contact the real estate agent who will have the keys to your property ready for you.

If you’ve purchased property, you can nominate a family member, friend or company to take ownership of the property who then become the nominated or substitute purchaser. This generally needs to occur no later than 14 days before the settlement date.

When you purchase a property privately – that is, not at a public auction – you’re legally entitled to a cooling off period of three business days. It begins from the date you (the buyer) sign the contract. If you decide you no longer wish to purchase the property, you need to put it in writing to the seller or the seller’s agent before the end of the cooling off period.

Joint proprietor is when property is held equally between two people – a 50/50 split. Should one person die, their share in the property passes to the other person.

Tenants in common is when property is held between two entities, but it doesn’t have to be an even 50/50 split. When one person dies, their share in the property is directed according to their will – which may not necessarily be to the other person.

Your lender will apply for your first home owner’s grant and generally upload these funds in the PEXA workspace prior to settlement. We will apply for any stamp duty exemptions or concessions that you’re entitled to depending on your circumstances.

Yes, immediately upon the property settling, we advise all the relevant authorities, e.g. council, water authorities and owner’s corporation of the change in ownership.

Title insurance protects you against things which are unknown to you when you settle – and which become your responsibility as the new land owners. This could affect your ownership of the property and cost you money. Title insurance can cover you for things such as unapproved and / or non-compliant building work, boundary encroachments and complete loss of legal ownership due to a fraudulent sale or mortgage of your property. We highly recommend title insurance.