Conveyancing Steps to Purchase property in NSW

1. I have found a property to buy

  • When you have found the property you wish to purchase, you will need to let the Real Estate Agent know your conveyancer will be Guardian Conveyancing.

2. Review of the Contract

  • When we have received the contract, we will make an appointment with you to meet up and review the contract. This is also when any pre-purchase inspections such as Building and Pest reports should be ordered. We can assist you in ordering these inspections. We will also liaise with your lender / broker to ensure your finance approval is progressing.

3. Exchange of Contracts

  • Once you have received your unconditional finance approval, satisfactory pre-purchase inspections and the terms of your contract are in order, we are ready to exchange Contracts with the seller. Exchange is when you are bound by the terms of the Contract (subject to any cooling-off period). Once Contracts are exchanged, we will then be able to tell you your settlement date (this is the date that you become the legal owner and get the keys).

4. Post-exchange process

  • After Contracts have been exchanged, you will receive your mortgage documents from your Lender, which should be signed and returned to your lender as soon as possible. We will also talk to you about providing payment of stamp duty at this stage.

5. Preparing for settlement

  • Once your Lender is ready for settlement, we will make the necessary arrangements. At this stage, you will need to book a final inspection of the property with your Real Estate Agent to ensure that the property is maintained. If you need to provide us with extra funds for settlement, we will arrange this with you.

6. Settlement

  • Alright – this is the day you have been waiting for. This is the day we meet with your Lender and hand over the balance of the purchase price to the Vendor’s Conveyancer. Once we have settled, we will telephone you immediately to advise and you can then collect the keys from the Real Estate Agent.