The Conveyancing Process for Purchaser
Step 1 – Before exchange:
Select a home loan product with your broker/banker and obtain a preliminary assessment of your financial situation. This is called a pre-approval. Ask the agent to send an email version of the proposed purchase contract to us for our review. Continue to negotiate on the price with the selling agent.
Our experienced conveyancer will:
Advise you on the contract and its special conditions. Advise our conveyancer of any special conditions you wish to add to the contract and ensure you are happy with the inclusions to the property (and that they are all in working order). Order any reports you require such as building and pest report and/or strata report. Follow up with your lender to confirm that your loan is unconditionally approved.
Step 2 – Exchange:
A 10% deposit is usually required by way of cash, cheque or bank transfer. The deposit is normally held by the agent in their trust account.
Our experienced conveyancer will:
Review the contract to ensure it is ready to proceed. Advise you on the content and how the contract conditions affect you. Meet you face-to-face or send the contract to you for signing. Forward the executed contract to the vendor's solicitor for exchange. You will be required to provide a deposit for exchange.
Step 3 – After exchange, leading up to settlement:
You are underway to owning your new home. Start preparing for the move, including arranging boxes and the packing away of your possessions. Sign your mortgage documents and return them back to your lender as soon as possible. Ensure any shortfall of funds required to complete the purchase of your property will be ready for settlement. This means liaising with your lender to ensure everything is on track. If applicable, complete the First Home Owners Grant. We will instruct you in relation to the bank cheque/s required to be drawn for settlement. It is highly recommended to arrange a final inspection with the real estate agent approximately 24 hours before settlement. Let us know if there are any issues with the final inspection.
Our experienced conveyancer will:
Advise you of any additional searches that are recommended by us. Arrange for stamp duty. Help complete the First Home buyers stamp duty exemption form (if applicable). Ensure your bank is ready for settlement. Prepare settlement figures and book in settlement with all parties. Notifying your lender, vendor's conveyancer and you of the time and venue for settlement. Confirm cheque details for settlement. Keeping you informed all the way.
STEP 4 – At Settlement:
Arrange with the real estate agent a convenient time and place to collect the keys to your new house after settlement. We will let the agents know once settlement is completed.
Our experienced conveyancer will:
Act as your agent at settlement on your behalf. Pay funds as instructed to vendor's solicitor on their cheque directions to us. Confirm with both the real estate agent and you, that settlement has taken place. Once settlement has been completed, you can collect the keys from your agent.
STEP 5 - After settlement:
If moving into your newly purchased home, arrange to have electricity, gas, water and telephone switched to your name. Change all incoming mail to your new residential address. Most importantly, enjoy your new property!
Our experienced conveyancer will:
For purchase matters that have no lender involved ("cash buy"), we can lodge the Transfer and other necessary documentation with the Department of Lands and arrange to have the new Title Deed sent to you. Provide you a final reporting letter with our tax invoice. We will keep your file in storage for seven years. We will scan the whole file in electronically. This makes it easier for us if you decide to sell the same property in the future.
The Conveyancing Process for Vendor
It is important to be comfortable in the selling process of your beloved home or property. Selling a property can be quite a stressful process. We make sure its done right.We believe in an experienced conveyancer providing you full attention to your needs. We ensure that the process of selling will be as smooth as possible and our conveyancer is there to inform you through the entire process, from the start to the end. Our conveyancer ensure you are kept up-to-date with the status of your sale and continue to maintain contact during the conveyance. We make sure you are aware of any changes that may effect you through out the process. Selling a property can be broken into two stages as follows:
Step 1 - Contract Preparation:
If you are wanting to sell, speak to one of our experienced conveyancer via telephone, email with instructions for preparing a contract for sale of your property. Choose the real estate agent you want to market your property. You need to choose between an auction campaign or a private treaty sale.
Our experienced conveyancer will:
Draft the contract of sale. Correspond with you and send the contract to your appointed real estate. Advise you on any amendments to the contract that the prospective purchasers have sought. Negotiate specials conditions on your behalf.
Prepare and exchange contracts once both parties have agreed on price. Inform you and the agent on the progress.
Step 2 - Exchanging of contracts and lead up to settlement:
Once the Contract is unconditional our conveyancer will notify your bank that you have sold your property and provide them with a signed discharge form.
Our experienced conveyancer will:
Forward you the complete contract and transfer document to you for execution or attend the signing of the contract in person. Forward the contract signed by you to the purchaser's solicitor Reviewing settlement figures, attend settlement as an agent on your behalf. Adjust levies to ensure all levies are paid out at settlement. Book the discharging bank out, arrange for the surplus funds to be deposited into your account. Ask the real estate agent to finalise the transfer and deduct his commission on the sale. Advise all parties once settlement is completed. Finalise the transfer and complete your matter.