Conveyancing in Australia: A Step-by-Step Guide to Buying or Selling Property

Icons and numbered steps for Property Search & Finance Pre-Approval, Review Contract & Due Diligence, Exchange Contracts & Deposit, Pre-Settlement Adjustments & Inspections, Settlement & Post-Settlement Procedures over a map of Australia

Conveyancing is the legal process of transferring property ownership. Whether you’re buying or selling residential real estate, understanding each step, associated costs and common pitfalls helps ensure a smooth transaction. 

1. Property Search & Finance Pre-Approval

Secure finance pre-approval from your lender and conduct preliminary land title, zoning and council searches. Identify any easements, covenants or restrictions before making an offer.

2. Review Contract of Sale & Due Diligence

Engage a solicitor or licensed conveyancer to review the Contract of Sale, building and pest reports, strata documents (if applicable) and special conditions. Confirm settlement date and cooling-off period.

3. Exchange Contracts & Deposit Payment

Buyer and seller each sign identical contracts. Upon exchange, the buyer pays the deposit (typically 10%). This binds the parties and invokes the cooling-off period in most jurisdictions.

4. Pre-Settlement Adjustments & Inspections

Calculate adjustments for rates, land tax, water charges and strata levies. Conduct a pre-settlement inspection to verify the property’s condition aligns with contract terms.

5. Settlement & Post-Settlement Procedures

On settlement day, funds are transferred, title passes to the buyer and keys are released. Your conveyancer lodges transfer documents, pays stamp duty and notifies utilities of the change in ownership.

Need Professional Conveyancing Assistance?

Contact LawWise Australia for expert contract reviews and access to licensed conveyancers who streamline your property purchase or sale.

Post Insights

  • Estimated CPC: AUD 3.00–5.00
  • Affiliate Opportunities: LawPath conveyancing kit, Finder.com.au mortgage comparison affiliate, Domain.com.au property listing affiliate

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