FAQ

Conveyancing is a branch of law associated with transferring the legal title of property from one person to another. The process involves exchanging contracts between the buyer and the seller and completing the transaction.

According to rules set forth in Australia’s Conveyancing Act, purchasers buying a residential property in NSW have 5 business days to cool off once contracts have been exchanged. During this time the buyer can get out of the contract if they put the request in writing. The 5 day period starts on contract exchange and finishes at 5pm on the 5th business day after exchanged.

Contracts for residential transactions have to be prepared according to the Conveyancing Act. Contracts for rural and business properties need a specific contract. Having these contracts prepared as soon as possible is key to ensuring a speedy transaction. You’ll also need to consider whether to use a real estate agent for the sale and how best to market the property to prospective purchasers.

Choosing a specialist conveyancer enables you to work with a professional who is solely focused on conveyancing law and doesn’t get distracted by other law work and attending court.

Settlement refers to the matter at hand being fully taken care of. For our purposes, a settlement generally occurs within 4-6 weeks after the final exchange of monies between a property purchaser and the seller. However, settlement completion dates can vary dependent on whether there are special clauses and conditions added into the contract.

Lime Conveyancing offers a 100% transparent fee schedule. We have no surprises or hidden costs to our services. Please contact us for a quick and accurate quote.