Question 1

How much does conveyancing cost?

Accepted Answer

We act on standard residential conveyancing for a fixed fee of $2,500 plus disbursements, so you know the professional fee up front. Disbursements are the third party costs such as title and property searches, the planning certificate and settlement platform fees, and these are charged at cost. We provide a written costs agreement before we start so there are no surprises.

Question 2

What is the cooling off period when buying in NSW?

Accepted Answer

For most residential purchases in NSW the buyer has a cooling off period of 5 business days after exchange, during which the contract can be rescinded on payment of a small penalty of 0.25 percent of the purchase price. The cooling off period does not apply to property bought at auction, and it can be waived or shortened if the buyer gives the vendor a section 66W certificate signed by their lawyer. Sellers do not have a cooling off period.

Question 3

What searches are needed in a conveyancing matter?

Accepted Answer

The searches depend on the property, but they commonly include a title search, a drainage diagram, a section 10.7 planning certificate, and council and water rate enquiries. For a strata property we also review the strata records and a strata report. We advise which searches are worthwhile for your particular purchase so that any issues, such as easements, restrictions or unapproved works, are identified before settlement.

Question 4

What is PEXA and do I have to use it?

Accepted Answer

PEXA is the electronic conveyancing platform used to lodge dealings and settle property transactions online. Electronic settlement is now standard for most NSW property transfers, and it means settlement takes place digitally with funds and title dealt with on the same day rather than in person. We manage the PEXA workspace on your behalf as part of our conveyancing service.