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 ...

Buy-Conveyancing-Step-3

READ THE CONTRACT – PART 3 OF 3 Summary of what we will learn in this webpage: What to look out for in the Deposited Plan, Easements and Covenants documents What to take note of in the Section 10.7 Planning Certificate What is important in the Sewerage Service Diagram Have an idea about the Sewer Mains Location Diagram Step 3 : After reading the Special Conditions, next we look at diagrams of the Deposited Plan, scan read the Easements and Covenants documents that may come with the contract. We look at the diagrams of the Deposited Plan because we want to confirm that the house we saw physically and that we are interested to buy is as what is drawn on the Deposited Plan, i.e. that the location of the house we saw is where we thought it is with respect to the nearby streets on the Deposited Plan. Also, we can see from the Deposited Plan the area of the land the house is on. The legibility of the Easements and Covenants docume...

Buy-Conveyancing-step-2

READ THE CONTRACT (ON SPECIAL CONDITIONS) – PART 2 OF 3 Summary of what we will learn in this webpage: What some of the more common Special Conditions mean? As a prospective purchaser, do we accept these special conditions, or shall we negotiate before signing on the contract? Step 2 : Next, we look for the Special Conditions pages. As these are many and varied, we’ll list some of the more common ones here (though there is one below that is not that common). For the more common special conditions, the style of words will be varied and different, but the meaning they convey should be similar to the ones below. For any special conditions we see in the contract that we think should be deleted or amended, we normally email the vendor’s solicitor to ask him/her to delete/amend. Of course, they can refuse to agree to our requests for amendments. All requests for amendments must happen before the 10% deposit is paid an...

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