The big picture
Conveyancing is the legal process of transferring property ownership from seller to buyer. It weaves together contract law, due diligence, financing, and registration.
Key stages
- Offer & acceptance
- Parties sign the sale agreement (often subject to conditions like financing or inspections).
- Timeframes and penalties are set out here — read carefully.
- Due diligence & conditions
- Title check: confirm the seller can sell and note any restrictions.
- Compliance & certificates: utilities, occupancy, HOA/Body Corporate where applicable.
- Finance approval & valuation: bank requirements if you’re obtaining a bond/mortgage.
- Transfer & bond documents
- Your conveyancer prepares transfer documents; the bank’s attorney handles bond documents.
- You’ll sign documents, provide FICA/KYC/ID, and pay transfer-related costs.
- Payments & clearances
- Deposits are held in trust (per the agreement).
- Clearances obtained (rates/levies/taxes as required).
- Transfer duty or tax handled according to local law.
- Lodgement & registration
- Documents are lodged at the deeds/land registry.
- On registration day, ownership passes and funds are released per the settlement figures.
Who does what
- Buyer: secures finance, signs documents, pays transfer costs.
- Seller: supplies required compliance documents and settles rates/levies to date.
- Conveyancer: manages the legal transfer, coordinates parties, lodges documents.
- Bank attorneys (if applicable): prepare and register the bond.
Timelines & tips
- Typical timeframes vary; delays often relate to finance, clearances, or document issues.
- Keep communication tight: promptly supply documents and sign when asked.
- Ask for a cost estimate upfront (transfer duty, conveyancer fees, disbursements).
