110 Katoomba Street, Katoomba NSW 2780
02 4782 9640

Resource Centre

Frequently Asked Questions

Conveyancing is the legal process of transferring the Title of a property from one person to another

A. Purchasing and selling property is one of the biggest financial transactions of your life. Due to the financial and legal aspects of transferring property, the consequences of making a mistake can be both costly and heartbreaking.

B. A Licensed Conveyancer has the necessary qualifications and property law experience to take care of your property transfer and protect you from costly mistakes – your own or others.

Under NSW Conveyancing Law, a cooling off period is the Purchaser’s right to cancel the agreement within five days. It offers the Purchaser protection, in the event they have rushed into the Contract, by allowing a period of five days to conduct searches against the Vendor’s property.

However, if the Purchaser cancels the Contract, the Purchaser will forfeit 0.25% of the purchase price.

The cooling off period does not apply at auction, so beware!

The Purchaser’s representative can waive the cooling off period if and only if the Purchaser is happy with such an arrangement and has signed a certificate confirming that fact.

The Vendor can issue a Notice to Complete, which means the Purchaser has 14 days (including weekends or public holidays) to Settle the matter. If left unsettled, the Vendor has the right to terminate the Contract and the deposit is forfeited.

The Purchaser can similarly issue a Notice to Complete. If the purchase does not proceed to Settlement, the Purchaser has the right to terminate the Contract and is entitled to a return of deposit. The Purchaser may also apply to the Court to have the Vendor complete the agreement.

Buying off-the-plan means buying a home or an apartment that does not yet exist other than as a drawing on a proposed plan.

A Disbursement is an expense incurred during the process of searching and obtaining certificates from the various statutory authorities.

Katoomba Conveyancing understands the contractual side of purchasing and selling property can be quite complex and riddled with jargon. That’s why we have simplified the terms you are likely to encounter so you can easily understand your contract or legal documents.

Please download our PDF by clicking here

Buying your first home is both exciting and nerve-racking. Our easy-to-follow guide will arm you with the knowledge of what to look out for when dealing with Vendors, real estate Agents, Mortgage Brokers, Building Inspectors, and Conveyancers.

Please download our Guide by clicking here

To find out if you're eligible to secure a First Home Buyers Grant, please visit the Office of State Revenue website by clicking here

Useful Links

 

Higgins Lawyers

Higgins Lawyers provides expert legal advice in all areas of law

 higgins-lawyers
Sydney Water

For information relating to drainage and sewer location

sydney-water-logo

Blue Mountains City Council

Blue Mountains City Council has information relating to our area

bmcc-logo

Department of Premier & Cabinet

Directory of local councils planning and land requirements

premier-cabinet-logo

Land & Property Information

Information on land titles, land valuation, surveying and maps

land-property-information-logo

Office of State Revenue

Stamp duty, vendor duty, land tax and first home owner grant

office-state-revenue-logo

Department of Fair Trading

Strata matters, buying + selling guides, business licenses information

fair-trading-logo