Conveyancing is the process of legally transferring the legal
title for real property from the vendor to the purchaser.
Where the land is already registered (ie not an off the plan
contract), these are the essential steps that are involved in a
standard contract for sale of land
- Obtaining finance
It is essential that a purchaser has adequate finance to cover
the cost of the purchase, stamp duty and any other applicable fees
and charges before they proceed with a conveyance.
- Contract prepared
The vendor's property solicitor will prepare the contract
for sale.
A property cannot be advertised for sale until such time as a
contract is available.
- Offer
Interested purchasers are able to make an offer once a property
is listed for sale. An offer can be subject to requirements a
purchasers may have, including a specific settlement date, lengthy
cooling off period or "subject to finance."
