Conveyancing Steps And Processes For Purchasing Existing Property
Go to open homes with a check list of the property features you want in the place you wish to buy.
Contact and speak to ABS Conveyancing for a Conveyancing Quote.
Found a suitable property, make an offer to buy and negotiate, using comparable sales in the local area, marketing information, realestate.com.au sold section and discussions with locals.
If going to auction, make sure you have – written loan approval, – building/pest report if a house or townhouse, – strata inspection report if a apartment or townhouse.
Talk to locals to make sure the local is right/perfect for you.
Make initial payment to ABS Conveyancing for the Contract Review, then discuss and instruct Contract Changes & Questions.
Contract signing and exchanging.
Cooling Off if not bought before or at auction.
If not bought at auction and under Cooling Off, make sure you have – written loan approval – building/pest report if a house or townhouse – strata inspection report if a apartment or townhouse.
Post Cooling Off or Exchange, ABS Conveyancing orders searches on council rates, water rates and if needed, strata levies, for the settlement figures.
ABS Conveyancing makes sure a Land Tax Clearance Certificate from the Vendor side.
Forms to the Purchaser/s for stamp duty to be processed, ready to pay at settlement. Includes first home buyer concessions form, if a first home buyer.
Bit and pieces to your bank.
Set up with bits and pieces PEXA, for electronic on-line settlement.
When the searches come back, ABS Conveyancing prepares and sends off the draft Settlement figures, with the relevant searches.
Vendor sides checks the settlement figures with any corrections and then provides the Vendor Pay Directions back.
ABS Conveyancing advises the Purchaser/s the total funds required for settlement – Vendor Pay Directions – Stamp Duty – Balance of the conveyancing fees to ABS Conveyancing – Transfer/lodgement fees with bank, PEXA and the – Land Titles Office (NSW Land Registry Services
Purchaser/s organises the Pre-Settlement inspection with the Agent.
Purchaser/s advises ABS Conveyancing either all fine with the Pre-Settlement inspection, or any issues to raise with the Vendor?s Conveyancer/Solicitor.
Day of Settlement, ABS Conveyancing monitors and controls the PEXA workspace, for a successful settlement. All the electronic documents and payments go through.
ABS Conveyancing rings the Purchaser/s of the Successful Settlement.
Post Successful Settlement, Vendor?s Conveyancer/Solicitor sends the Order on the Agent, to the Agent, to release the keys/tags/cards to the Purchaser/s now the new owners and the deposit to the Vendors, less the Agents? commission and marketing costs.
Land Titles Office (NSW Land Registry Services) sends notice to council and water on the new ownership details.
If strata, ABS Conveyancing signed off on Section 184 notice, to the Purchaser?s Conveyancer/Solicitor, to the strata manager, of the new ownership details.
ABS Conveyancing orders a Title Search, few days later, to make sure the transfer is completed, now in the Purchaser?s name, with their bank as the mortgagee, if there is an incoming mortgagee.