The Four Important Steps
All property transactions are unique – depending upon the property itself and the unique personal circumstances of the buyer. Once we know your conveyancing requirements we can advise our fixed price professional fee and other expenses that you might encounter.
What are the Steps in our Process?
Complimentary Initial Consultation
Before starting your search for a property, it is worthwhile having an initial consultation with one of our specialist conveyancers. There is no charge for this consultation and can be over the phone.
In this consultation we will:
- Advise you on possible exposure to surcharge stamp duty and annual land tax
- Give an estimate of stamp duty
- Advise on payment of deposit – by cash or deposit bond
- Explain our initial contract review service
- Any other queries you may have
Contract Review
Paul Denny, with over 45 years’ conveyancing experience, will personally review the contract, ensuring it is accurate, complete, and protects your interests.
The fee for the contract review is $250.00 + GST
This includes:
- A written, succinct contract review highlighting the most salient points of the contract and providing recommendations for contract changes.
- Discussing any queries or concerns you have about the contract.
- Negotiating contract changes with the vendor’s representative.
- Guiding you through the pre-purchase process and ensuring you are ready to make an offer or bid at auction.
- Arranging Building/Pest/Strata reports if required
Once you have found the property of your dreams, order your contract review below and we will get back to you promptly to discuss the next steps.
Exchange of Contracts
Once your offer is accepted and the final terms of the contract are agreed, we can proceed to the exchange of contracts. At this stage, a final contract will be produced for signing. You’ll be required to pay the deposit (typically 10%) and contracts will be dated.
This is the time that contracts become binding and settlement preparations can begin.
Settlement
Once contracts have been exchanged, we’ll continue to guide you through to settlement. We’ll liaise with the real estate agent, vendor’s conveyancer & your lender to make the necessary arrangements.
During this process we will keep you fully informed of its progress.
Settlement will typically occur on the agreed date. This is the day the remaining funds are paid, and possession of the property is provided to you.
After settlement, we’ll obtain and provide you with a title search verifying that you are the registered owner of the property.
Frequently Asked Buying Questions?
What extra costs should I budget for when buying property?
Beyond the purchase price, buyers need to plan for stamp duty, legal and conveyancing fees, building and pest inspections, loan application fees, and moving costs. At Bowral Conveyancing Centre, we provide a clear breakdown upfront so you can budget with confidence.
What is the cooling-off period in NSW?
Most private treaty purchases include a five-day cooling-off period after contracts are exchanged. This allows you to change your mind, although a small fee may apply. It’s important to note that cooling-off rights do not apply at auction. We ensure you understand your position before you sign.
Do I need a building and pest report before buying?
Yes, we always recommend one. A professional inspection can uncover hidden structural issues or pest activity that could affect the value or safety of the property. We can guide you on arranging these reports before you commit to the purchase.
What should I look out for when buying a strata property?
For apartments and townhouses, a strata report is essential. It reveals the financial health of the owners’ corporation, any upcoming special levies, and rules on matters like pets and renovations. We help you interpret the report so you fully understand your responsibilities.
What do ‘sunset clauses’ mean in off-the-plan contracts?
A sunset clause sets a deadline for the developer to complete the property. If the property isn’t finished by that date, buyers may be able to withdraw from the contract. Our team carefully reviews these terms to ensure your interests are protected.
Why is contract review so critical before exchange?
The contract sets out your rights and obligations. We check every detail, negotiate necessary changes, and highlight any risks. Having your contract reviewed by an experienced conveyancer before exchange ensures there are no surprises later.
Should I get a loan pre-approval before making an offer?
We recommend pre-approval so you know exactly how much you can borrow and negotiate with confidence. This also speeds up the process once your offer is accepted.
What government incentives are available for first-home buyers?
In NSW, first-home buyers may be eligible for stamp duty concessions or grants. We stay across the latest government schemes and explain what you may qualify for when purchasing your first home.
How long does the settlement process usually take?
Most property settlements in NSW are completed within six weeks, although this can vary depending on the contract. We work closely with you, your lender, and the seller’s conveyancer to ensure everything runs smoothly.
Can Bowral Conveyancing Centre help if I am buying at auction?
Yes, buying at auction is a different process as there is no cooling-off period. We review the contract in advance, advise you on risks, and ensure you are fully prepared before bidding.