Contracts and Conveyancing
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An in-depth guide to buying real estate in your area
This is the legal side of buying real estate and therefore critically important. In this section we provide an overview of why you need to engage experts, the services they offer, what goes into a contract of sale and how the exchange and settlement process works. We provide a deep dive into contracts and the property conveyancing and settlement process.
Understanding the contract of sale
Purchasing a property is about so much more than having a vendor and a purchaser agreeing to the sale. Often, there is back and forth regarding price, condition of the property and any other compromises required. Once both sides have negotiated the deal though, a contract of sale is signed by both the vendor and the purchaser.
Finalising your first property sale
Once you’ve successfully signed the contract of sale or auction agreement for your property, it means you can now wait for the settlement period to end. Depending on the state that you’re in, this period can last from 30 to 90 days and is usually agreed upon by both parties. Understanding how to finalise the sale is important - here is a guide to what you need to consider.
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Property conveyancing and settlement
Whether you are buying or selling a home, the transfer of title and signing of legal documents forms an important part of the process. This is called conveyancing and it can be daunting, especially because each state and level of government has different laws and requirements on property purchases. Here is an overview of what conveyancers do and where you find one to help you.