Conveyancing – Purchase and Sale of Land NSW
Offer and Acceptance:- The first step in securing your property is contacting the Real Estate agent and having your offer accepted by the Vendor. Whilst the Contract for Sale of Land is prepared the following steps may be completed.
Secure your finance
Pest and Building Report
Septic Tank report
Strata document inspection
Local Council record inspection
Payment of Deposit to the Agent
Calculate Stamp Duty
EXCHANGE
Exchange of contracts occurs when both the Vendor and the Purchaser have agreed to the terms of the contract and the purchaser is satisfied with their searches and has established finance. The Purchaser pays the deposit to the Real Estate Agent and both parties sign their contract.
Deposit in NSW is usually 10% of the sale price. Other amounts may be agreed to through negotiation.
In NSW the cooling off period is waived when the purchaser’s solicitor signs a s66W certificate at the request of the Vendor for residential properties. Should the property be purchased by way of Auction there is no cooling off period.
Stamp Duty is due and payable unless an exemption applies.
Settlement occurs 28 days from the day of exchange OR as per the agreed settlement length which appears on the front page of the contract for sale of land. Some contracts are 45 days and others have a fixed date. These terms are negotiated prior to exchange.
SETTLEMENT
Contact your agent prior to the day to arrange inspection of the property. Should any issues arise they may be rectified prior to settlement day.
At settlement the Council rates, water rates and any other amounts owing by the Vendor will be calculated paid at settlement.
Council rates will be paid in full up to 30 June of the following year.
AFTER SETTLEMENT
Once settlement has occurred you will be notified and you shall be provided with the keys to your new home.
COST
We offer fixed price Conveyancing $990 plus gst and disbursements for purchases of property less than $500,000. Call our office today for more information. (02) 6622 2201