Conveyancing FAQs
We’ve put together a few frequently asked questions to provide you with more information about Just Conveyancing and our services. If you have any additional questions and would like more information, do not hesitate to contact our friendly team.
Q? Can I Deal With You By Phone/Email Or Do I Need To Physically Come In When Looking At Buying Property?
A. Our Sydney-based property solicitors deal with a number of clients by phone, email, Zoom and there is generally no need for a face to face meeting.
Q? What Type Of Points Need Considering In A Purchase Contract?
A. There are several items we speak to you about such as cooling-off periods, deposits, settlement periods and more.
Q? I Am Looking At Buying Multiple Properties; Do You Charge A Fee To Review The Contract Every Time?
A.Yes, we charge a fee per contract. Please speak to us about reviewing multiple contracts and we will see how we can assist.
Q? How Much Notice Do You Need To Review A Contract When Buying Property?
A. Generally, we have a quick turnaround for this however it’s best to phone us and ensure we will be able to review the contract within the period you need us to.
Q? Can There Be Delays With Settling On The Settlement Date?
A. Yes, unexpected delays can arise but we pride ourselves on settling nearly all conveyancing transactions on time.
Q? Do I Attend Settlement?
A. No, you don’t need to attend settlement. We have experienced agents who collect the documentation from us and settle the matter on your behalf, usually in the Sydney CBD.
Q? When Can I Collect The Keys?
A. We notify the agents of settlement. You can usually collect the keys on the afternoon of the settlement day.
Q? When And How Do I Pay The Balance Of The Purchase Price?
A. The balance of the purchase price, subject to pro-rata adjustments for rates and levies, is payable on the completion date specified in the contract. We work out those adjustments and agree them with the other party’s conveyancer about 3 or 4 days before completion. Then, for a purchase, we will let you and/or your bank know what bank cheques we require in order to settle on time or, for a sale, we direct the purchaser’s conveyancer what bank cheques are required.
Q? Am I Entitled To A Final Inspection?
A. Yes, you are entitled to a final inspection in the final three days before completion. This needs to be arranged with the agent. You buy the property as you inspected it prior to exchange of contracts. Should there be any issues found when you inspect the property, you should raise these with the agent.
Q? Who Informs Gas, Electricity, Phone, Etc?
A. It is up to you to, if selling, to cancel your gas, phone and electricity accounts. Similarly, if purchasing, you must establish your new accounts for gas, phone and electricity.
Q? Who Informs Council, Sydney Water & The Owners Corporation (strata purchases)?
A. At settlement we hand over a Notice of Sale which is lodged at the NSW Land and Property Information office with the title documents. This will result in the Valuer General, Water Board, and Council automatically receiving notice of your sale or purchase. If purchasing, notices will come to the address which you tell us to nominate.
Q? Do I Need Insurance?
A. Unless taking occupation prior to settlement, your insurance needs to start from the date of settlement. Make sure that your mortgagee is noted on the policy. Strata title properties are a little different. The owners corporation holds insurance for the building. You only need insurance for your individual unit.
Q? Do Settlement Cheques Need To Be Bank Cheques?
A.Yes, settlement cheques must be bank cheques.
Q? When Do I Need To Pay Stamp Duty?
A. Stamp duty must usually be paid on settlement or within 3 months of exchange of contracts. Owner occupies of off-the-plan properties may be eligible for a 12 month delay for the payment of stamp duty. We will advise you in each case.
Q? What Is The Process After Exchange And What Should I Do As A Buyer?
A. We will write to you confirming exchange and when settlement is due. We also ask for the stamp duty. There are a number of steps that we carry out as your conveyancer between exchange of contracts and settlement. If any delays occur in relation to settlement, it is usually because finance is not available for a purchaser or the bank is not ready to discharge its mortgage for a seller. There may be penalty interest if you do not settle a purchase on time. This is why it is essential to make your finance application quickly and sign your lender’s loan and mortgage documents promptly on receipt. If you are selling, you must make application to your lender for a discharge of mortgage. In all cases, give our details to your bank.
Q? What Type Of Deposit Do I Need?
A. The vendor will normally accept either a 5% or 10% deposit. The cheque can be a personal cheque, and you may speak to the agent to see if you can transfer the deposit electronically. Should you not have the funds, an application can be made for a deposit bond. Not all vendors will accept a deposit bond.
Q? I’m Looking To Purchase A Unit, Do I Need A Pest & Building Report?
A. A purchaser of a strata title property should apply for a strata records inspection report and if that discloses any building condition issues then a pest and building report may be necessary.
Q? Buying At Auction – HELP?
A. It is important to have your conveyancer examine the contract before auction, to make sure that everything is in order. It is also important to have your finance arranged with unconditional approval. Also make sure all necessary building inspection have been completed. You cannot complain about any of these issues after you purchase at an auction. Talk to the estate agent about auction registration and procedures. If you are successful, you must then sign the contract and pay a deposit. A personal cheque is acceptable. Note there is no cooling off period for an auction purchase.
Q? I’m Buying A Property, What Happens Before Exchange?
A. It is important to make sure that your finance is approved in writing, and you have carried out your due diligence in getting a pest and building report if buying a house, or a strata records inspection report if buying a strata title apartment. If you need additional time then you could ask to sign the contract under “cooling-off” but if you pull out before the end of the cooling-off period then you will lose 0.25% of the price. Cooling-off does not apply to auction purchases.
Q? What Do I Need Before Selling My Property?
A. You need to find an agent and sign an agency agreement. We can recommend good agents in most areas. Then you need to instruct us to draw up a draft Contract for sale. We will have a number of questions to ask, so that we can prepare the contract.
Q? I’ve Got A Buyer, What’s Next?
A. The agent will send through a sales advice to us and to the conveyancer for the purchaser. We will discuss the contract with you in some detail, including any changes that may be necessary. Many clients prefer a face-to-face meeting at our office and we are happy to accommodate you for this purpose.
Q? What Happens At ‘Exchange’?
A. We organise with the purchaser’s conveyancer to exchange contracts and either a 5% or 10% deposit is handed over, usually with a section 66W Certificate, making the contract unconditional. Settlement normally take place 42 days after the exchange.
Q? What Happens After ‘Exchange’?
A. The most important aspect at this stage, if you are selling, is to apply to your bank to organise a discharge of such mortgage. If necessary, we will send you a discharge authority to sign, or ask your mortgagee to discharge of the mortgage.
Q? What Happens Closer To The Settlement Date?
A. We will calculate and agree the settlement figures with the other conveyancer. If you are selling, we will obtain a loan payout figure from your mortgagee. You need to advise us how you wish to draw the balance of the proceeds. All rates and levies are adjusted as at the date of settlement and if a proportion is unpaid these will come out of the sale proceeds. Please do not pay rates/levies very close to the settlement date as this may not be picked up.
Q? What Happens On Settlement Day?
A. We will have everything arranged, usually on the day before settlement. We will notify you as soon as we have work of the completion of your settlement. We will notify the agent so that the deposit can be released to the vendor and the keys can be released to the purchaser.
Customer Testimonials
Don’t just take our word for it, read what our customers have to say.
Brianna Davis2024-11-10Jane Mercer was an absolute delight to work with and provided exceptional service in the purchase of our home. This is the second time I’ve used Jane for a home purchase and she again worked extremely hard to simplify and ease a very stressful time. Jane went over and above to help us secure our home and make the process as smooth as possible despite a difficult vendor!!E Gluntz2024-10-22In addition to being friendly and efficient, Jane patiently explained everything we needed in detail, was responsive whenever we got in touch, and was extremely thorough in everything she did. As company title property buyers, Jane simplified the process for us. Highly recommend!!David Hong2024-09-04Was extremely fortunate to have Jane Mercer hold my hand through my first home purchase journey. She made sure all aspects of my purchase were covered including holding my broker accountable on timelines! She is a true professional and highly recommend.Victoria Thomas2024-08-16Jane Mercer provided outstanding service. Jane paid great attention to detail, was highly efficient and an absolute delight to deal with. I will appoint her for my conveyancing from this point forward, and will be recommending her to all family, friends and associates.Samantha Vassallo2024-03-13I recently had the pleasure of working with Jane Mercer at Just Conveyancing, and I couldn't be more satisfied with the level of service I received. Jane's expertise, professionalism, and helpfulness were truly exceptional throughout the entire process. Navigating the complexities of a property transfer was quite daunting for me. However, Jane's extensive knowledge and experience in the field immediately put me at ease. She patiently guided me through each step, explaining everything in clear and understandable terms, which was immensely reassuring. Jane's professionalism was evident in every interaction we had. She was always prompt in responding to my inquiries and kept me updated on the progress of my case. Her attention to detail ensured that no stone was left unturned, and I felt confident that my interests were being well taken care of. Despite the intricacies and occasional setbacks we encountered, she remained committed to finding solutions and resolving any issues promptly. Her dedication to ensuring a smooth and seamless process was truly commendable. I cannot recommend her and Just Conveyancing highly enough. If you're looking for a conveyancer who goes above and beyond for their clients, look no further than Jane Mercer.Damien Pashby2023-05-17Jane and the Just Conveyancing team were helpful, responsive and efficient in helping us with the sale of our home.Stefano Bianchini2022-08-31I am very happy with Just Conveyancing. Jane is knowledge, friendly and a pleasure to work with! five stars!Aliza Adam2022-06-10Jane was so friendly, efficient, patiently explained everything I needed in detail, responsive whenever I got in touch, and super thorough with everything. Buying a house is super stressful particularly in this Sydney market and Jane made this process an absolute breeze. Highly recommend!!