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It is the responsibility of buyers to conduct their due diligence before signing a contract due to the legal principle, “caveat emptor” meaning “buyers beware.” However, this may not always be achieved prior to signing contracts given the delay in the production of these reports and risk of losing the property to another potential buyer. This is why some buyers make the commercial decision to conduct their due diligence during the cooling off period. When to purchase the due diligence reports really depends on the circumstances of each individual transaction. We recommend you contact us so we can provide you advice when these reports should be purchased.

A pre-auction offer is where a property is marketed for sale by way of auction but that the agent has indicated that the vendor is willing to accept offers prior to auction. This is a strategy used by the vendor to determine the amount of interest on the property and the ‘price appetite’ of potential buyers. An advantage for buyers is to secure the property privately as opposed to the open market. However, this could be detrimental to buyers as it exposes their price position and the vendor may decide to take the property to auction despite entertaining pre auction negotiations. If you need help with deciding to make a pre-auction offer, contact us today.

Every buyer under a contract is entitled to a standard cooling off period of five (5) business days when purchasing residential property in NSW. However, the cooling off period can be negotiated or very often at the request of the agent, waived. If an agent has asked you to waive the cooling off period, contact us immediately.

There are stamp duty concessions available from some homebuyers in NSW. You can contact Revenue NSW to understand more on the stamp duty concessions available including the First Home Buyers Assistance Scheme through their website (https://www.revenue.nsw.gov.au/taxes-duties- levies-royalties/transfer-duty/buying-property) or their hotline (1300 139 814). We can assist you with determining your eligibility for any stamp duty concessions that may be applicable and the application for an exemption or concession.

In NSW, a deposit must be paid on the signing of the contract. A deposit is usually 10% of the price, however where there is a cooling off period, there are instances where only 0.25% of the price is payable. The deposit amount you supply can also be negotiated. Contact your property conveyancer first if the agent has asked you to pay the full deposit before signing the contract.

We recommend contacting us as soon as you have obtained appropriate finance and before you start inspecting properties. This is because our free initial consultation is specifically tailored to your situation and is very comprehensive. We equip you to start your property search and negotiate with your agent so you can do so with more confidence.

No. No matter who is assisting you, a property lawyer or a conveyancer, the transaction is still the same.

We are property lawyers who can assist you in your conveyance transaction from start to finish. With us, you can have the peace of mind that you are in good hands as we bring skills from the wider section of property law as well as conveyancing. When you choose Arver Law, you have peace of mind that you have a qualified and experienced property law expert on your side.

To sell a property in Australia, you need to prepare it for sale, select an agent and share it with the market. Once your agent has helped you to negotiate a price, you will need to have a contract ready for the buyer to review. You and your property lawyer or conveyancer will then interact with the buyer and real estate agent to prepare and exchange contracts. The buyer pays a deposit, and at settlement, the remaining balance is transferred, completing the legal exchange of ownership. Having a property lawyer or conveyancer on your side is essential to ensure there is no fine print to disrupt the process or negatively impact your sale.

The legal process of buying a property in Australia involves preparation, property search, negotiation, due diligence, exchange of contracts and settlement. As a buyer, the first step is to attend open homes and find a home you wish to buy. You can then engage a property lawyer and mortgage broker to help you review titles, look through the property exchange contract and secure financing. Once a deposit is paid and a contract is signed, there will be a period of 6 - 12 weeks before formal settlement and completion of the purchase. Your property lawyer or conveyancer will be in touch to make sure you have all the necessary information during this time.