We make your conveyancing simple, stress-free and fast
Samantha Wilson Property we have partnered with local business NSW Property Conveyancing to provide our clients the best service with their property sale and purchase.
At NSW Property Conveyancing you will always receive the highest level of service, expert advice and personal attention.
Conveyancing is their sole focus, unlike law firms they are not distracted by other legal matters and can give your sale or purchase our undivided attention.
You will find us accurate, detail-conscious, cost-effective and friendly making your conveyancing simple, stress-free and fast.
Selling your Property
Once a decision to sell a property is made, the priority often lies in promptly placing it ‘on the market’. Should one opt for listing with an agent, the agent will be equally motivated to initiate an advertising campaign.
In New South Wales, residential property advertising necessitates the availability of a written contract for prospective purchasers. While we can swiftly arrange a contract, ensuring its compliance with disclosure requirements and incorporation of specific conditions pertinent to your circumstances is paramount to safeguarding your interests.
Having the contract accurately drafted from the outset helps prevent delays in finalising the sale upon securing a purchaser.
The selling process of a property in New South Wales typically entails three stages:
1. Preparing the Contract / Pre-Exchange:
- The contract must encompass prescribed disclosure documents, typically procured online from local council and government entities. These documents include a copy of the title search, deposited plan, details of any land easements or interests, council planning certificates, and drainage diagrams. Additional details may be required based on the property, such as insurance certificates for recent building works or compliance certificates for swimming pools.
- During consultations, information regarding the property, its structural condition, inclusions, and post-sale intentions are gathered. For simultaneous selling and purchasing, coordination of a concurrent settlement is usually feasible. Adjustments to completion dates can be incorporated into special conditions to safeguard your interests.
2. Exchange of Contracts:
- Upon acceptance of an offer, the agent issues a sales advice to our office and the purchaser’s conveyancer. The contract is finalised using information from the sales advice, ensuring accuracy through confirmation with you before dispatching a ‘counterpart’ contract to the purchaser’s conveyancer.
- The purchaser typically arranges inspections for pest and building reports, identification surveys, etc. Your cooperation expedites the exchange of contracts. The original contract signing and discussion of any concerns are facilitated by us.
- If a mortgage is in place, your lender is notified of the sale, and preparation of a discharge of mortgage is requested, along with advice on the anticipated settlement amount.
3. Settlement:
- The purchaser’s conveyancer drafts a settlement statement to adjust council rates, water/sewer access rates, water usage, strata levies, and relevant property factors. Approval of the statement and provision of directions for the purchaser’s conveyancer, including discharge of mortgage amounts, are managed by us.
- A final inspection of the property by the purchaser is arranged before settlement, ensuring the property’s condition matches that at the time of contract exchange.
- Settlements are now conducted online through the national electronic platform PEXA, facilitating smoother transactions by eliminating physical meetings and expediting document lodgments and fund transfers.
Upon settlement, the real estate agent is promptly notified, authorising the release of any held deposits and transfer of keys to the purchaser.
Buying a Property
Conveyancing constitutes the legal process of transferring real estate from one party to another, encompassing residential, rural, or commercial properties, be it a house, vacant land, or a strata unit.
For many individuals, purchasing property stands as one of the most significant financial transactions they will undertake, often proceeding rapidly with little room for error.
Upon signing a contract to purchase property, individuals incur binding legal obligations. The repercussions for contract breaches can be substantial, underscoring the importance of guidance from seasoned professionals.
The Property Purchase Process:
1. Pre-Exchange Purchase:
Upon acceptance of an offer by the vendor, the real estate agent forwards a sales advice to the conveyancer’s office. Thereafter, the conveyancer reaches out to the purchaser to verify details and gather instructions, reviewing the contract and advising on subsequent steps.
2. Exchange of Contracts:
Following satisfactory searches, enquiries, and formal approval of financing, the conveyancer seeks approval to exchange contracts. Contracts, provided in duplicate, are signed by both parties, meticulously verified for consistency, and then exchanged, setting the stage for the completion date countdown.
3. Settlement:
A settlement statement is prepared, adjusting rates, levies, and relevant charges, ensuring each party pays for services pertinent to their ownership tenure. Subsequently, a final property inspection is conducted by the purchaser, ensuring compliance with contract terms and conditions.
E-conveyancing has modernised this process, enabling online transactions and facilitating efficiency and accessibility across the property exchange landscape.
4. Property Ownership and Rights:
Ownership interests and rights, whether held as joint tenants or tenants in common, bear significance in various scenarios, from relationship breakdowns to property disputes.
5. Loans and Mortgages:
Acquiring property often necessitates securing a loan, requiring the granting of a mortgage over the property as security. Understanding loan terms and mortgage implications is crucial for borrowers.
Concluding Thoughts:
Conveyancing is more than a procedural formality; it demands a thorough understanding of property law and contractual intricacies. With a dedicated focus on conveyancing, our seasoned team stands ready to assist clients with their property transactions.
Conveyancers play a pivotal role in managing the administrative and legal aspects of property transactions, ensuring compliance and protecting clients’ interests.
For assistance with any property-related inquiries or guidance through the conveyancing process, please contact samantha@nswpc.com or call (02) 6621 8005 for expert advice and support.