Smarter Conveyancing For Property Buyers In Sydney

The Ultimate Guide to Buying a Property in Sydney

Buying a house is a hugely exciting prospect, but it can be a complex and time-consuming process. If you’re looking to purchase a new property in Sydney, we strongly recommend enlisting the services of an experienced conveyancer.
With an expert in your corner, the process of buying a property will be much swifter and simpler. If you’re on the hunt for a solicitor for buying a house, Smarter Conveyancing is the perfect choice. Get in touch to find out how we can help or read on for answers to some of your most pressing questions.

What does the process of buying a house entail?

When you’re looking to buy a house, it’s important to be aware of the processes you have to go through to become the legal owner. Purchasing property is not always a simple, stress-free transaction, but it can be if you choose the right conveyancer.

Conveyancing is a term used to describe the legal aspects of transferring ownership of a property from one person to another. When you enter into negotiations, and you’re ready to take over a home from a vendor, a conveyancer can guide you through the processes. They can also provide tailored advice to make sure you know exactly what you need to do and where you’re up to in terms of the journey towards holding those keys in your hands.

The conveyancing process for buyers typically involves 3 key phases, which include:

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Reviewing the Contract of Sale

at this point, your conveyancer will go through the contract with a fine-tooth comb and check that you are aware of and happy with all the terms and conditions.
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Registering the transfer of ownership

your conveyancer will take care of all the legal aspects of transferring ownership from the vendor and ensure that you have all the necessary forms, documents and files to obtain the keys and call that your property your new home. Once the contracts have been signed and the money paid, the transfer documents will be passed on to the Land Titles Office.
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Settling the financial requirements of the sale

your conveyancer will liaise with your bank to ensure that everything is in place & you’re ready to settle the financial side of the sale on the agreed date.
During the process, conveyancers will also carry out detailed searches on the property. The searches are designed to obtain information about the title of the house, details of any development planned by the local authority, building and pest inspections and a water information statement.

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How long does conveyancing take and are there specific timeframes involved?

There is no universal answer to this question, and some buyers may be able to complete the process a lot quicker than others. The timeframe may depend on the type of property, how fast the vendor and their solicitor move and whether the vendor or purchaser are in a chain.

Typically, the legal process can be completed in around 6-12 weeks, but we will be able to give you a more accurate estimate based on your individual circumstances.

What documents does a buyer need?

The vendor is responsible for producing the Vendor’s Statement and the Contract of Sale, but buyers will need to ensure they also have the relevant documents to complete the transaction.

The transfer documents, which are typically drawn up by your conveyancer, include the Certificate of Title and important information such as the percentage held by each party when more than one buyer is claiming ownership.

The documents may also include modifications that have been made for the sale. The transfer documents will be passed to the seller for verification and final checks before the sale goes through. As a buyer, you’ll also need to ensure that you have documents to prove that you have the financial means to purchase the property and you’ll need to confirm your identity.

What does a buyer need to do and how can a conveyancer help?

Buying a house may seem like a relatively straightforward process on the surface, but there are legal requirements involved that can become complex and stressful if you’re not familiar with the stages and you don’t have legal expertise.

Conveyancers handle the legal aspects of the transaction, guiding you through each phase, ensuring that you understand the terms and conditions of the sale and making sure you have the relevant documents and financial agreements in place to ensure a seamless transaction.

 

As well as reviewing and verifying the fine details of the Contract of Sale, conveyancers also provide a host of additional services, including carrying out property searches, liaising with financial organisations on the buyer’s behalf and registering the new owner.

If you’re in the process of looking for a new home in Sydney, and you’re searching for experienced, professional and reliable conveyancers, don’t hesitate to get in touch with Smarter Conveyancing in Sydney today.

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