FAQs
What is conveyancing?
Conveyancing is the legal and administrative process of transferring property ownership from
the seller to the buyer. It involves preparing and reviewing contracts, conducting property
searches, handling financial transactions, and ensuring all legal requirements are met before
settlement.
Do I need a conveyancer or solicitor to buy or sell property?
Yes. Whether you're buying or selling, engaging a licensed conveyancer or solicitor is
essential. They ensure your transaction complies with the law, safeguard your interests, and
help you avoid costly mistakes.
Should I speak to a conveyancer before signing a contract?
Absolutely. Contracts often contain complex or unfavourable terms. Engaging a conveyancer
before signing allows them to review the contract, explain your obligations, and ensure your
rights are protected from the beginning.
How long does the conveyancing process take?
The conveyancing process typically takes 6 to 8 weeks from the date contracts are exchanged
to settlement. However, the timeline can vary depending on the complexity of the transaction
and how promptly each party fulfils their responsibilities.
What is a cooling-off period and how does it work?
In NSW, buyers of residential property usually have a 5-business-day cooling-off period after
signing the contract. During this time, you can withdraw from the purchase for any reason,
subject to a small penalty “(typically 0.25% of the purchase price)”. Note that cooling-off periods
do not apply to auction purchases.
What is settlement and what happens on settlement day?
Settlement is the final stage of the property transaction. On this day, the balance of the
purchase price is paid, legal documents are exchanged, the title is transferred, and your
conveyancer will authorise the agent to release the keys to you.
What happens if the other party delays settlement?
If the other party cannot settle on the agreed date, your conveyancer can issue a Notice to
Complete, providing a further 14 days to finalise the transaction. Penalties or interest may
apply, depending on the terms of the contract.
What are searches and disbursements in conveyancing?
As part of the process, your conveyancer will conduct various searches—such as title checks,
zoning and planning certificates, land tax clearances, and council and water rate checks—to
identify any issues affecting the property. The costs associated with these are called
disbursements, which are third-party fees paid on your behalf and may include government
lodgement or registration charges.
When can I collect the keys to the property?
You can collect the keys once settlement has been confirmed. Your conveyancer will notify
the real estate agent, who will then release the keys to you as the new legal owner.
Who notifies authorities after I purchase a property?
Your conveyancer will inform relevant authorities such as the local council and, if applicable,
the strata manager. However, some agencies may wait to update their records until notified by
NSW Land Registry Services. You will need to contact your utility providers (e.g. electricity,
gas, internet) directly to update your account details.