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What time does settlement take place on the Settlement Date?

The earliest time for settlement is generally 2pm. Banks and lenders are usually unable to settle at an earlier time.

It is important to note the following issues for foreign Purchasers:

What contract matters should purchasers be aware of?

The contract may contain matters such as:

At Settlement, what property issues must I accept?

The standard contract provides that you accept the property:

What stays and what goes?

Understanding what items stay with a property and what can be taken by the Vendor is a crucial aspect of any real estate transaction. Inclusions are those items you expect to remain in the property when you take over ownership, for example curtains, stove and dishwasher inmost residential properties.

What matters you should be aware of if you are buying in a Strata or Community Scheme?

If you are buying in a Strata or Community Scheme, you should be aware of:

A deposit is a part payment of the purchase price payable by the Purchaser when signing the contract.

What documents do I need to sell my property?

Before listing your property, you must have a contract of sale prepared by a solicitor or conveyancer. It must include a title search, zoning certificate, and any council approvals for past renovations or modifications.

Pool safety is acritical responsibility for property owners in New South Wales. The state has specific regulations and standards in place to protect residents, especially young children, from pool-related accidents. It’s important to understand the obligations that pool owners must adhere to, including obtaining necessary certificates, maintaining safety standards, and understanding the potential consequences of non-compliance. By familiarising yourself with these regulations, you can help ensure that your pool is both safe and legally compliant.

What happens if I can't secure financing?

Commonly in New South Wales, the Contract is not subject to finance. Before signing an unconditional contract or before the expiry of the cooling off period, if you are unable to obtain final finance approval for the transaction or otherwise do not have immediately available cleared funds (e.g. you are relying on an inheritance or property sale), you will have no right to rescind the Contract. You must proceed to settlement regardless, failure of which will entitle the Vendor to terminate the contract, keep the deposit and sue you for damages and any loss on resale if they sell the property for a lesser value within 12 months of the termination.