Property & Conveyancing

FAQ’s- Purchasing a Property

What is Private Treaty? This is a standard residential property transaction. This is when the vendor, or home owner sets the price they would like to sell their property for and their real estate agent negotiates individual with the purchaser to achieve a sale as close this the asking price as possible.   What is …

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Buying a property at Auction

When purchasing at Auction you need to be prepared. If you are the successful bidder at Auction, the Contracts are exchanged unconditionally. It means there is no cooling off period and you are bound to the terms of the Contract. What do I need to do? Once you have found a property you need to …

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Homesafe Wealth Release vs Reverse Mortgage

There are a number of products on the market aimed at allowing people over the age of 60 to obtain access to money by using the real estate property that they own as a basis for obtaining those funds. Most of the products on the market are what are known as Reverse Mortgages. There is …

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Transfer (Stamp) Duty Changes for First Home Buyers

The NSW government has announced as part of the NSW Government COVID- 19 Recovery Plan that the threshold for stamp duty paid on new homes for first home buyers will increase. To be eligible for the exemption or concession in the transfer duty you will need to be a first home buyer who purchases a …

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Process of purchasing a property

1. Decide to Purchase Before you commence looking for a home: Make a list of the features you are looking for in a property; Speak to your lender regarding how much you can borrow. 2. You’ve found a property The agent will liaise with you directly in regards to the negotiations of the purchase price. …

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Transfer Duty

A common question that is asked is when is my transfer duty (also referred to as stamp duty) payable? In New South Wales transfer duty is payable the earlier of settlement or within three (3) months from the date of exchange. If you are purchasing off the plan (where a home is to be erected …

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Process of Selling your Property

1. Decision to Sell You decide to sell: You appoint a real estate agent; You sign an agency agreement. 2. Preparing the Contract for Sale of Land At this point, you should speak to Megan from our Property Department she will prepare the Contract for Sale of Land. Before the property can be advertised or …

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Disclosing a Murder or Drug Misuse

An agent must not fail to disclose a “material fact” that the agent knows or our should have taken reasonable steps to make themselves aware of. (An agent should take reasonable steps to gather all relevant information on a property they are selling or renting). So, what is a “Material Fact”? The NSW Fair Trading …

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Buying a Property Subject to Probate or Letters of Administration – May 2020

What is a property sold subject to Probate or Administration? Buying a property subject to Probate or  Administration is when a property is listed for sale and sold without the Executor or Administrator yet being registered on the certificate of title. The deceased remains on title until such time the Court grants Probate or Letters …

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Signing the Contract to Purchase Real Estate Before You See a Lawyer

It is not unusual for purchasers to be asked to sign a Contract and to pay a deposit at the Agent’s office either on a weekend or at night before they can see their Solicitor to obtain advice. This will normally not be a problem as long as the rules set out below are followed: …

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