Conveyancing Sydney

Conveyancing is the process of transferring property ownership and rights. In NSW the process is handled by either solicitors or licensed conveyancers. Licensed conveyancers are governed by the NSW Department of Fair Trading. In general terms, standard conveyancing matters involve various procedures involving contract preparation, contract review, contract exchange, property inquiries, stamping with Revenue NSW and settlement, facilitated by Land Registry NSW, with e-conveyancing now mandatory in NSW. Conveyancers are more cost-effective specialist option for all property transactions.

A typical conveyancing transaction usually takes about 6 weeks from exchange of contracts to settlement, but this can range. Off-the-plan purchases can take much longer, sometimes years.

Conveyancing as outlined in general property law overviews such as Wikipedia, involves transferring legal ownership of land from one person to another, with a series of checks, searches, and obligations along the way.

When acting for a client on a standard purchase, we first review the contracts and negotiate changes to clauses where required, provide advice, conduct all the necessary searches, and all usually within 24 hours. A purchaser may exchange under a five-business-day cooling-off period, unless the cooling-off period is waived with a s66W certificate, signed by our licensed conveyancers, making the contracts binding and unconditional immediately.

Before making an offer, purchasers usually conduct an initial inspection to assess the property’s condition. It’s important that the purchaser checks everything thoroughly at the time of the initial inspection. When purchasing property, you are purchasing the property in its current state of repair so any issues that you notice after exchange, for example at the final inspection closer to settlement, cannot be remedied by the vendor later. Also, during the pre-exchange process, many also arrange building and pest inspections to check for hidden issues. The property is accepted in its current state unless the contract includes special conditions requiring repairs before settlement. The final inspection, occurring one to three days before settlement, ensures the property is in substantially the same condition as at exchange. Vendors must maintain the property, and the purchaser checks that fixtures and fittings are present and working, no damage has occurred, chattels remain, and vacant possession is provided if required. General property law resources, including Wikipedia, explain that inspections are standard in conveyancing internationally, but in NSW, the contract and local law determine the specific obligations and remedies if issues arise. Initial inspections are about deciding to buy, while final inspections confirm that the agreement is being honoured.

After exchange, the purchaser arranges finance and prepares for settlement, which typically takes 6 weeks. The vendor must provide vacant possession unless the property is sold subject to tenancy, in which case the tenants will be notified of the change of ownership.

For a sale, a contract for sale of land first needs to be prepared. The contract is usually sent to your real estate agent within 24 hours for marketing. Once the real estate agent has a complete contract, including the zoning certificate, the marketing campaign can begin.

Interested purchasers will make inquiries directly to the licensed conveyancer, asking for changes or any queries concerning the contract. From there, the conveyancer will contact the vendor to discuss any requested amendments to the contract. The vendor is not obliged to agree to anything they do not wish to agree to, however sometimes the changes can benefit both parties and applied to the contract before exchange. If the property is going to auction, the real estate agent is privy to the agreed changes so that on the day of auction, the appropriate change can be made by the agent or the successful bidder.

Settlements in NSW are now conducted electronically through PEXA, the only online platform currently available. Land Registry Services NSW and Revenue NSW are connected to each matter, allowing registration of the transfer.

Although 6 weeks is generally the standard time frame for settlements, settlement timelines can be shorter or longer, depending on circumstances of each party. This agreement takes place pre-exchange, however in some cases, settlement can be pushed forward and delayed if both parties agree in writing. An example would be cash purchases ready to settle much sooner than settlements involving finance from a lender.

Stamp Duty must be paid prior to or on settlement. Revenue NSW also forms part of the PEXA Platform. A settlement cannot go proceed in PEXA without first being verified by Revenue NSW. This is something licensed conveyancers process and handle.

Stamping takes place by the conveyancer once relevant forms are completed and provided by the purchaser, along with verification of identify.

As licensed conveyancers, we are trained and qualified to assist clients with their due diligence. Rushing into exchange due to heightened emotions and pressure from Real Estate Agents often leads to problems. It is imperative that the contract is read carefully, as this document covers so much more than price and settlement date. Special conditions can significantly affect a purchaser’s rights, such as a vendor selling “as is” with no obligation to fix defects, or excluding certain items shown in photos. It is easy for a purchaser to feel overwhelmed with emotions when finding their ‘perfect property’ they can rush into a decision without checking the condition of the property. In competitive markets, purchasers sometimes waive inspections to make their offer more appealing, but later discovering structural issues, termite damage, or unapproved work after exchange. Easements and covenants are often overlooked, which can impact building plans or future extensions.

For strata properties, purchasers should review the strata report thoroughly to understand the balance of the capital works fund, any proposed or approved special levies, existing disputes, defects, and by- laws that might restrict renovations, pets, or short-term letting. If a special levy is struck prior to the date of exchange, it should be liable by the vendor and paid in full on settlement. However, in some contracts, a vendor may have this altered, so that the onus is on the purchaser. This is why a licensed conveyancer must first review the contract.

When purchasing residential property with existing tenants, if the purchaser wishes for the tenant to remain in the property, then the rights under the lease transfers to the new owner. The purchaser takes on all obligations under the lease, including rent, lease duration, and bond management through Fair Trading NSW. Rent is usually adjusted by the leasing agent separately to settlement however it can also be adjusted at settlement in the final settlement figures, with the vendor keeping rent up to that date and the purchaser receiving rent from settlement onward. Most residential sales are with vacant possession, meaning the property must be empty and clean at settlement. Vendors cannot remove tenants without following proper procedures. Purchasers planning to rent the property themselves should review any existing lease carefully before exchanging the contracts so they can understand their obligations and comply with all of the requirements for new tenancies after they become the owners.

When purchasing commercial properties with leases, the lease must be examined in details by the conveyancer. The bond, or in most cases for commercial property, the bank guarantee will need to be located and rent is generally adjusted by the conveyancer on settlement.

Delays in settlement can happen, and the standard NSW contract stipulates the settlement date that must be met.

When a seller delays, the purchaser can issue a notice to complete, giving the vendor a 14-day period to settle, and making time of the essence. If the vendor still fails to settle, the purchaser can terminate the contract and recover their deposit, and may claim damages for additional costs, such as bridging finance or rental expenses. Delays can sometimes be agreed upon if the vendor has a genuine reason, but any extension should be documented in writing between legal teams.

When a buyer delays, compensation is usually available at the rate set out in the contract for each day of delay if the delay is not the purchaser’s fault. In the same way the purchaser has the right to issue a Notice to Complete, if the purchaser delays settlement, the vendor may issue a notice to complete. Failure to settle within the notice period can allow the vendor to terminate the contract, forfeit the deposit, and claim damages if the property must be resold at a lower price. To prevent this, it is imperative finances are in order prior to exchanging the contract, as this is one of the most common scenarios of purchaser delays. In practice, most delays are negotiated, but it is crucial to document all agreements to protect each party’s position.

Leading up to settlement, delay or not, the vendor remains responsible for the property until settlement, including paying rates, maintaining insurance, and keeping the property in good condition. Insurance must remain in place up until the date of settlement.

There are a lot of incentives offered for first home buyers in NSW. For details of the incentives available, we recommend visiting the Revenue NSW website. But for now, in summary, the First Home Buyer Assistance Scheme provides transfer duty exemptions or concessions depending on property value and eligibility of the buyer. First home buyers purchasing a new home valued up to $800,000 might qualify for a full exemption of the duty, while concessions are available for homes between $800,000 and $1,000,000, so the buyer will pay a percentage of the duty, depending on the price. For existing homes, exemptions and concessions apply at slightly lower thresholds. Eligibility requires Australian citizenship or for the buyer to hold permanent residency. The buyer must also be over 18 years of age, not previously owning property, and intending to live in the property for at least six months and within 12 months of buying the property. Then there is the First Home Owner Grant which provides $10,000 for buyers of new or substantially renovated homes up to a certain value. The Grants are handled by the purchaser’s lender and applied to loan funds on settlement. Off-the-plan purchases qualify if building work has not substantially commenced at the date of contract. If a buyer is to claim these benefits the buyer is required to comply with all conditions, including moving in within the specified timeframe and remaining for the minimum period as stated above, otherwise Revenue NSW will reclaim the benefit and in addition, may impose penalties and interest on top of that.

The typical role of a licensed conveyancer is not limited to contracts and property inquiries. A key part of the process involves checking council records, zoning restrictions, and any registered easements. These may affect how the purchaser can use the property in the future. Even small details, such as a shared driveway or overhanging trees over a fence can have implications for property use and maintenance responsibilities. Understanding these distinctions is crucial, and as conveyancers, we guide our clients through all of the nuances, ensuring nothing surprises them after settlement. Conveyancers will check thoroughly for issues such as debts owing on the property, for example Land Tax or Foreign Residency Capital Gains debts. Where discovered, a conveyancer will request clearance and evidence of the removal of any such debt before or on settlement.

Another central part of the process is the Settlement Adjustment figures. Strata levies, water rates, and council rates are adjusted as at the settlement date. The conveyancer will check directly with council, waterboard and strata as to all debts owing. Anything that is owing, will be paid by the vendor on settlement from proceeds. The purchaser reimburses the vendor for any pre-paid amounts that cover the period after settlement. That way nobody is out of pocket. Again, thorough checks on behalf of the conveyancer are essential, if not checked, the new owner may end up with additional rates or levies after settlement, which were not theirs to pay. In some matters, Land Tax may be included as an adjustment. This would depend on circumstances such as vendor and purchaser both being investors and the property an investment property for both vendor and purchaser and the contract stating that Land Tax is to be adjusted. A licensed conveyancer will know when to include this and when to request for this adjustment not to be included.

A further consideration involves finance. Making an unconditional offer without finance approval is risky. If finance falls through, the purchaser may lose their deposit and be liable for damages. A mortgage broker will best assess your situation and guide you forward, however it is the lender that has the ultimate say and we encourage purchasers to wait for the final formal unconditional and written approval by the lender.

A very common cause of stress for many clients is misunderstanding inclusions. Verbal assurances from the agent or vendor aren’t legally binding. Any agreement which isn’t stated in the contract should be agreed in writing between the vendor’s and purchaser’s conveyancer. What is written in the contract is enforceable. This includes fixtures, fittings, and any chattels that are being transferred with the property. Buyers who fail to check these details often discover missing items at settlement and are left frustrated. The role of a conveyancer is to ensure all inclusions are clearly noted in the contract or agreed to separately in writing, making it legally enforceable preventing disputes. It’s also important to check the inclusions are in working order before exchange.

By approaching conveyancing in a structured way, and explaining every detail and stage in simple terms, the process becomes a lot less stressful. Combining practical direction, relevant law, and many years of experience ensures clients feel informed and supported from start to finish. Resources such as Wikipedia can provide general context, but it is the detailed, tailored advice that ensures a smooth, legally compliant transaction and peace of mind for both vendors and purchasers.

One aspect of conveyancing that is often underestimated is the amount of background coordination that takes place between multiple parties behind the scenes. A single transaction can involve real estate agents, mortgage brokers, banks, councils, strata managers, Land Registry Services, Revenue NSW and in some cases accountants or financial advisers will also be involved. Each party operates on different systems and timelines, which means delays can occur even when both the vendor and purchaser are ready to proceed. A licensed conveyancer’s role includes chasing outstanding information, making clear any inconsistencies, and making sure that nothing is overlooked simply because another party has not responded promptly.

Communication is key throughout the process. Clients often assume that no news means something has gone wrong, when in reality the matter may simply be waiting on a council response, information from a finance company or a third party search. Either way, the conveyancer should keep clients updated regularly. Even just a simple email. One of the most valuable services a conveyancer provides is keeping clients informed in simple terms and plain language, explaining what stage the transaction is at, what is outstanding, and next steps. This helps manage expectations and reduces unnecessary stress, particularly for those purchasing property for the first time who may not be familiar with how property transactions work in NSW.

Another issue that often comes up from time to time is the difference between what buyers assume is ‘standard practice’ and what is actually lawfully enforceable. Many purchasers rely on advice from family or friends who bought property at different times, or even in different states or under very different market conditions. NSW conveyancing law has its own rules, contract structure and timeframes so assumptions based on other experiences can be ambiguous. An example would be cooling off rights, deposit requirements, and settlement extensions can vary depending on the circumstances of the transaction and the what is stated in the contract. This is why individual advice tailored to the specific property and contract is very important.

It is also worth mentioning that not all properties present the same level of risk. Older homes, properties with extensions, or those located near bushland often require closer scrutiny. Conveyancers review flood certificates, properties in flood-affected areas, planning records, and council documentation to identify whether approvals are missing or whether and what restrictions may or may not apply. While these issues do not always prevent a purchase, they may influence a buyer’s decision, insurance costs, or future resale value. Identifying these matters before exchange allows purchasers to make informed decisions and an adjustment to their offer of the purchase price if necessary, rather than discovering problems after they are legally bound.

For vendors, preparation before listing a property can make a significant difference to how smoothly the sale proceeds. Having a complete and accurate contract available early reduces delays and gives buyers confidence. Incomplete contracts, or unresolved title issues or missing certificates can deter buyers or lead to last-minute renegotiations. A conveyancer can identify potential issues early, such as name discrepancies on title, outdated mortgages that need discharging, or unregistered interests that may complicate settlement.

Technology has improved efficiency in conveyancing. With the introduction of mandatory e- conveyancing in NSW, the process is more streamlined than ever before. But it has also added complexity. While platforms like PEXA streamline settlements, they require strict compliance with identity verification, settlement readiness checks and signing protocols. Errors in these steps can delay settlement or prevent it from proceeding altogether. Licensed conveyancers are trained to navigate these systems and safeguard all requirements are met before the due settlement day.

Another area that often causes confusion is adjustments at settlement. Many clients focus solely on the purchase price or sale price, without realising that adjustments can result in additional amounts payable or receivable at settlement. So outlining all figures required on settlement, including the adjustment such as rates, levies, water usage, and rent adjustments is essential leading up to settlement otherwise omitting this information can significantly affect final figures. Reviewing and verifying these figures carefully is essential to ensure they accurately reflect each party’s entitlements. Errors in adjustments can be costly and difficult to recover after settlement has completed. A good and thorough licensed conveyancer will triple check settlement figures before sending and finalising.

Property transactions are also heavily influenced by timing. Public holidays, PEXA closure (5pm), council processing delays, also linked settlements where there is a chain of settlements, can have an impact on the timing. While contracts set clear deadlines, flexibility and practical problem-solving are often required to navigate real-world complications. An experienced conveyancer understands when an issue is minor and when it requires formal action, such as issuing notices or negotiating extensions to protect their client’s legal position.

Ultimately, conveyancing is not just about documents and deadlines. It is about protecting people during what is often one of the largest financial transactions of their lives. Whether acting for a purchaser or a vendor, the role of a licensed conveyancer is to anticipate issues, explain risks clearly, and ensure the transaction proceeds as smoothly and securely as possible. When clients understand what is happening and why, they are better equipped to make decisions with confidence and avoid costly mistakes.