What to expect from the conveyancing process when buying property
How to navigate the property purchase journey with confidence
Whether you’re buying your first home or your fifth, understanding the conveyancing process can make all the difference. Conveyancing is the legal process of transferring ownership of property from one person to another, and it involves much more than just signing paperwork.
In this blog, we break down each step so you’re never left in the dark. Here’s a clear overview of what happens once you’ve found the property you want to buy.
Step 1: Review of the Contract for Sale
Once your offer on a property is accepted, the seller’s Solicitor or Conveyancer prepares a Contract for Sale. This document includes critical information about the property such as the title details, inclusions, zoning certificates, and any restrictions or easements on the land.
Your Conveyancing or Solicitor will carefully review the contract before you sign anything. They’ll explain the terms in plain English, flag any hidden risks, and request amendments if needed. Common issues found in contracts include special conditions that place unfair obligations on the buyer, unapproved structures, or unusual deposit terms.
THIS REVIEW IS VITAL. Never sign a Contract of Sale without legal advice. Doing so could lock you into terms that are difficult or costly to exit.
Step 2: Conducting Due Diligence
After the contract has been reviewed, your Conveyancer will begin the due diligence phase. This involves legal searches and recommending inspections that reveal important details about the property you’re purchasing.
Key checks include:
- Title search – confirms the legal owner and whether there are any encumbrances on the property.
- Zoning certificate (Section 10.7) – shows how the land can be used and whether future development is planned nearby
- Sewerage diagram – identifies the location of sewer lines and any easements.
- Pest and building inspections – check for issues like structural damage or termite activity.
- Strata report – required for units or townhouses to assess the financial and maintenance status of the strata scheme.
This stage protects you from buying a property with hidden problems. If issues arise, you may be able to negotiate a price reduction, requires repairs, or walk away altogether, provided you’re still within the cooling off period.
Step 3: Exchange of Contracts
Once you’ve completed your inspections and your Conveyancer has given the go-ahead, the next step is exchanging contracts.
Both the buyer and seller sign identical copies of the contract, which are then exchanged. At this point, you’ll pay a deposit, usually 10% of the purchase price.
From here, the sale becomes legally binding. You’ll typically have a five-business-day cooling off period (unless waived), which gives you the option to withdraw from the contract (with a small financial penalty). If you purchase at auction, there’s no cooling off period, the contract is binding immediately.
This is the pivotal moment where both sides are locked into the transaction. Any changes from this point must be agreed to by both parties.
Step 4: Finance and Loan Finalisation
Now that the contract is locked in, it’s time to finalise your finances. if you’re taking out a loan, your lender will need to issue unconditional (formal) approval.
Your Conveyancer will work closely with your broker or bank to make sure everything is progressing as required. This includes providing your lender with legal documents, ensuring mortgage paperwork is completed, and booking settlement once everything is ready.
It’s important that this stage run smoothly, without confirmed finance, you can’t settle on the property. Delays or failure to secure your loan can result in losing your deposit or facing penalties for breach of contract.
Step 5: Pre-Settlement Preparation
In the lead-up to settlement day, your Conveyancer handles a number of behind-the-scenes legal and financial tasks to ensure everything is ready.
This includes:
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Calculating adjustments for council rates, water, land tax, and strata fees
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Confirming the final settlement amount with your lender and the seller
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Coordinating with all parties to book the date and time for settlement
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Ensuring all documents are correct and ready to be lodged
This phase is critical. Any miscalculations or errors can delay the process and cause financial stress. A good conveyancer will double-check every detail to keep things on track.
Step 6: Pre-Settlement Inspection
On the day before (or morning of) settlement, you’re entitled to a final inspection of the property. This is your opportunity to make sure everything is as it should be before the handover.
At this inspection, check that:
The property is in the same condition as when contracts were exchanged
Any included items (like dishwashers, blinds, or light fittings) are still present
There’s no new damage or rubbish left behind
The seller has fully vacated (if this was agreed)
If anything is wrong, your Conveyancer can negotiate a delay or resolution before funds are transferred. This protects you from being handed the keys to a property that isn’t in agreed condition.
Step 7: Settlement Day
This is the big day, when ownership of the property is officially transferred to you.
During settlement, the following takes place:
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Your lender releases the loan funds
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Legal representatives from both sides exchange transfer documents and funds
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The title is transferred and registered with NSW Land Registry Services
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You receive the keys and can take possession (if the property was vacant)
Congratulations! You are now the legal owner! From this point on, all property responsibilities (rates, utilities, insurance) become yours.
Step 8: Post-Settlement Tasks
Even after you’ve received the keys, there are a few final steps to ensure everything is properly wrapped up.
Your conveyancer will:
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Notify the council, water authority, and strata (if applicable) of your new ownership
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Confirm the title has been officially registered in your name
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Provide you with a final settlement statement and copies of all key documents for your records
These tasks are essential to make sure your legal ownership is correctly recorded, and there are no administrative oversights.
Why It Pays to Have an Expert on Your Side
The Conveyancing process in NSW is complex, with legal, financial, and practical steps that must be completed in the right order and at the right time. Having a skilled and proactive Conveyancer or Solicitor makes the journey smoother and safer.
Our Conveyancers and Solicitors at Allwright Bourke Lawyers & Conveyancing will make buying property easier. We are here to guide you from start to finish, explaining each step clearly, protecting your interests, and handling all the heavy lifting so you can enjoy your purchase with peace of mind.
Thinking of buying property in NSW? Get in touch with us today at admin@allwrightbourke.com.au for expert support from contract to settlement.