Everything You Need to Know About Buying Property
Let us take the stress out of your property purchase and help you to secure the property of your dreams.

The following information gives a brief outline of the major steps in the property buying process.

This information is for general purposes only and does not constitute legal advice. For more information and a FREE first consultation please contact us today.

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Get pre approved finance

This is a simple process arranged through a mortgage broker or bank. It involves answering questions about your income, any other loans, employment and of course how much you want to spend on your property.

Go house hunting!

Take your time and find the place that suits all of your needs. When looking at prices don't forget to factor in stamp duty, mortgage fees and other purchasing costs.

Make an offer

At this stage you will give your offer to the agent. At this point in the process you are not obliged to purchase the property, even if your offer is accepted. However, you are also not protected if someone puts in a higher offer.

Offer accepted

If you have your offer accepted by the vendor it is now time to have your solicitor review the contract. If things need to be changed this must be done before you sign the contract, pay the deposit and exchange.

If you wish to use Mothers in Law Lawyers to do your conveyancing simply give our contact details to the agent and they will forward the contract to us straight away.

Pay the Deposit & Exchange Contracts

You can now pay a deposit and exchange contracts. This can be handled by your solicitor, although real estate agents will sometimes facilitate exchange.

5 day cooling off period

A cooling-off period, of 5 (business) days after exchange of contracts, gives a buyer the opportunity to organise their finance and to receive advice from building, strata and pest reports. If the buyer pulls out during this 5 day period they forfeit 0.25% of the purchase price to the seller (eg. on a $500,000 property you would forfeit $1250).

Settlement Period

Usually 42 days from the date of exchange. During this time your solicitor will conduct searches and liaise with all parties and banks to arrange settlement.

Final Inspection

Before settlement you will do a final inspection to ensure the property is in the same condition as when you signed the contract. Check all fixtures and fittings listed in the contract are still in the property.

Organise Insurance

The risk of damage to the property passes to the purchaser immediately upon settlement. Therefore, for non-strata properties, you may want to organise insurance before completion.

Settlement

This is also sometimes called completion, is when ownership is officially transferred to the purchaser. Cheques and Title documents are passed between the parties and their banks.

Pick up the keys

After settlement your solicitor will call to let you know everything has settled. They will also contact the agent to tell them to release the keys to you and release your deposit to the seller.

Move in!

Don't forget to contact electricity and gas providers to open an account and change your address details with any organisation that corresponds with you via mail. Your solicitor will notify council, water & strata authorities that you are the new owner.
Free Review of Contract


What our clients think:
My experience with Stacey Nadel was exemplary. Stacey was conscientious, efficient, timely & above all was a delight to work with as well as being priced very competitively. 
Joy
Thank you so much for the professional service you provided. You answered our many questions with patience and understanding, no matter how small. Your level of communication and immediate response was fantastic, making us feel informed and in control, reducing the stress we felt at such a busy time in our lives.
Daniel & Niza

Conveyancing Locations

Mothers in Law Lawyers can assist with your conveyancing all over NSW and we regularly help local clients in the following Northern Beaches Suburbs:

• Allambie Heights • Beacon Hill • Brookvale • Collaroy • Collaroy Plateau • Cottage Point • Cromer • Curl Curl • Dee Why • Freshwater • Ingleside • Manly Vale • Narrabeen • Narraweena • North Balgowlah • North Curl Curl • North Manly • Queenscliff • Wheeler Heights • Balgowlah • Balgowlah Heights • Clontarf • Fairlight • Manly • Seaforth • Akuna Bay • Avalon • Avalon Beach • Avalon North • Barrenjoey • Bayview • Bilgola • Bilgola Beach • Bilgola Plateau • Bungan Beach • Careel Bay • Careel Head • Church Point • Clareville • Elanora Heights • Ingleside • Ingleside Heights • McCarrs Creek • Mona Vale • Narrabeen • Newport • Newport Beach • North Narrabeen • Palm Beach • Paradise Beach • Salt Pan Cove • Sand Point • Scotland Island • South Warriewood • Turimetta • Warriewood • Warriewood Beach • Whale Beach