Conveyancing process NSW

The website dsplaw.com aims to show you step by step the whole conveyancing process NSW properties.

For a sale conveyance, we show all conveyancing steps starting from

– what is the contract to order,
– where to order from,
– what to fill in on the contract,
– what else is required to go with the contract,
– to what should be done on the day of Exchange,
– what must be done between Exchange and Settlement,
– and what happens on Settlement day.

For a purchase conveyance, the conveyancing process in NSW include

– what to look out for in a contract,
– how to read the more common Special Conditions in the contract,
– what to take note in the other required documents that come with the contract,
– what should happen on day of Exchange,
– between day of Exchange and day of Settlement,
– and on Settlement day itself.

You will realise from the next few web pages that the conveyancing process in NSW (and Sydney of course) comprises of quite a few procedural/transactional steps. Be it a sale conveyance or a purchase conveyance, we start with the contract – prepare it (for a sale) or comb through it (for a purchase) from a legal perspective. Once contracts are binding, the conveyancing process is mainly procedural till Settlement.

This website is a one-stop-shop. Each step of the conveyancing process for Sydney/NSW property is detailed here. With this step by step conveyancing guide, in essence, you will see ALL the practical steps solicitors take from start to finish, for both a sale and a purchase conveyance. We keep the legislation underlying such conveyancing process in NSW to a need-to-know basis, so we hope this website is easy and enjoyable for you.

With the material presented over the next few web pages, at the end of reading this website, you may feel confident that you are equipped with the knowledge to do your own conveyancing for a standard residential house in Sydney/NSW. However, there are risks involved in doing your own conveyancing, which we will point out towards the end. Rather, this website aims to give you an understanding of the whole conveyancing process for Sydney/NSW properties.

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Sale-Conveyancing-Step-6

SETTLEMENT / COMPLETION Summary of what we will learn in this webpage: What do we expect to receive from the purchaser’s solicitor about 2 weeks prior to the day before Settlement As a vendor, we expect to receive the Settlement Adjustment Sheet, and its supporting s603 and s66 certificates We go through how to work out the Settlement Adjustment Sheet, and therefore How much is the vendor going to put in his pocket from the sale of this property Step 6 : 1) A day or 2 before settlement, we would receive the loan payout figure from the lender. This payout figure is the amount of loan that the vendor still owes the bank and this amount needs to be paid on settlement day for the lender to discharge / release the vendor from the loan. 2) Normally a couple of weeks before till 3-4 days before settlement, we would also receive from the purchaser or the purchaser’s solicitor a settlement adjustment sheet and its supporting s603 and ...

DSL Law Overview

DSP Law is a small firm of solicitors located in the Sydney suburb of Auburn; (if you are coming by train, we are only about 3 mins walk from Auburn train station. Auburn train station is about 25 mins by train from Sydney CBD, 10 mins by train from Parramatta.) Our law firm has been established in Auburn, Sydney for the past 19 years. The principal solicitor has over 20+ years of experience in different areas of law. If you engage us to do your conveyancing for you, rest assured you are in safe hands. You will also be informed every step of the way, and if there’s anything you do not understand or want to find out more, please read the preceding web pages, or ring us and we’ll explain. When you ring us, you get directly to us, solicitors, and we’ll answer your questions on the spot. You will not waste your time talking to file-opening managers or administration staff. We speak English, Arabic, Mandarin, and Cantonese. We do other areas of ...

Sale-Conveyancing-Step-5

AFTER EXCHANGE – THINGS THAT MUST BE DONE Summary of what we will learn in this webpage: If the vendor has a mortgage, we need to ask the bank for a discharge of mortgage It is a requirement to serve the Land Tax Section 47 Certificate, and why must we serve before a certain time We may need to apply for the “Foreign Resident Capital Gains Withholding Clearance Certificate” How to reply to Requisitions on Title If this is a paper settlement, how to fill in the Transfer form Step 5 : After exchange, as a vendor, there is 1, possibly up to 4, things that need to be done between exchange and completion date (also called settlement date; completion and settlement are called interchangeably). Preferably, we will do these right after exchange. 1) If the property the vendor is selling has a mortgage (there is a mortgage if on the Title Seach document, there is a dealing entry about mortgage to a particular financial institution), obviou...

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