WHAT IS CONVEYANCING?

WHAT IS CONVEYANCING?

Why you may need a licensed conveyancer.

Conveyancing is the legal work involved in preparing the sales contract, mortgage and other related documents.

    While you can do your own conveyancing, most people engage a licensed conveyancer or solicitor.

    Who can do conveyancing work? 

    • A licensed conveyancer

    • A solicitor

    • You can do it yourself

    What is the conveyancing process?

      Conveyancing can involve these steps:

      • examining the contract for sale
      • arranging building and pest inspections
      • examining a strata inspection report (if the property is in a strata scheme)
      • arranging finance if necessary
      • exchanging the contract of sale
      • paying the deposit
      • arranging payment of stamp duties
      • preparing and examining the mortgage agreement
      • checking if there are outstanding arrears or land tax obligations
      • checking if swimming pool compliance documentation is needed
      • finding out if any government authority (eg. local council, Sydney Water, NSW Roads and Maritime Services) has a vested interest in the land or if any planned development could affect the property
      • finding out any information that may not have been previously disclosed such as a fence dispute or illegal building work
      • calculating adjustments for council and water rates for the property settlement
      • overseeing the change of title with Land and Property Information NSW
      • completing any final checks prior to settlement
      • attending settlement.

      IF YOU NEED ASSISTANCE WITH YOUR NEXT HOME PURCHASE OR YOU WANT TO SPEAK TO US ABOUT OUR CONVEYANCING SERVICES PLEASE CONTACT US TODAY.

      Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.

      First Home Buyer Assistance scheme

      First Home Buyer Assistance scheme

      First Home Buyer Assistance scheme

      NSW First Home Buyer Assistance scheme

      From 1 August 2021, the first Home Buyer Assistance Scheme (Stamp Duty Concession) thresholds will revert back to the previous thresholds.

      A full stamp duty concession will no longer apply to a new home valued at less than $800,000. The full concession will apply to new homes valued at less than $650,000.00.

      If you’re a first home buyer, you may be entitled to a concessional rate of transfer duty or even an exemption from paying it altogether under the First Home Buyers Assistance scheme (FHBAS).

      Unlike the First Home Owner Grant, the FHBAS applies to

      • buying an existing home
      • buying a new home and
      • vacant land on which you intend to build a home.

      The NSW Government increased the transfer (stamp) duty thresholds for the purchase of new homes and vacant land from 1 August 2020 to 31 July 2021.

      From 1 August 2021, the thresholds will revert to the previous thresholds.

      For more information please contact us today.

      Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.