Property and Conveyancing Lawyers Sydney

As a first home buyer, the matter involved additional steps including eligibility for the First Home Buyers Assistance Scheme and stamp duty exemption, which required coordination with the relevant NSW authorities.

Our property lawyers carefully reviewed the Contract for Sale, identifying several provisions that were unfavourable to our client as the purchaser. We entered into negotiations with the vendor’s representatives and were able to successfully amend those contract terms, ensuring the contract better protected our client’s interests before exchange. We also assisted our client in coordinating the First Home Buyer benefits, preparing and lodging the necessary documentation with the appropriate NSW stamping agents to ensure the stamp duty exemption was applied correctly.

Throughout the transaction, we maintained clear and consistent communication, keeping our client informed at every stage of the process. The purchase proceeded smoothly and settlement was completed on time, allowing our client to secure his first home without unnecessary stress.

This outcome ensured our client was able to purchase the property with confidence while taking full advantage of the government incentives available to first home buyers.

Brander Smith McKnight property lawyers assisted a client with the purchase of an off the plan apartment at Caringbah Greens. The purchase was made through the client’s Self Managed Super Fund (SMSF), which added a layer of legal and financial complexity to the transaction. As part of the purchase process, it was necessary to prepare and execute a Deed of Variation to the SMSF trust deed to ensure the fund remained compliant with the Superannuation Industry (Supervision) Act 1993. The matter also involved the removal of an existing member and trustee of the fund, including the resignation of a director of the corporate trustee and the updating of the fund’s records with the relevant authorities. This step was required to satisfy bank lending requirements for the property purchase.

Our property lawyers reviewed the off the plan Contract for Sale in detail, which contained a range of developer specific provisions relating to staged construction, sunset dates, development approvals and potential changes to plans within the larger mixed use development. Our property team worked closely with the lender and the lender’s solicitors to ensure the SMSF borrowing structure complied with limited recourse borrowing rules, enabling finance to be approved. Throughout the transaction, we coordinated the contract review, SMSF documentation, lender requirements and compliance matters, ensuring all legal requirements were satisfied prior to exchange and settlement.

The purchase ultimately proceeded smoothly, with our client able to secure the property through their superannuation fund with full compliance with SMSF lending requirements, providing a long term investment within their retirement structure.

The Katoomba property was owned as tenants in common between our client and her mother. The transaction required careful management as the property was being sold under a Power of Attorney, with our client acting on behalf of her mother in the transaction. During the process, we identified that the Power of Attorney had not yet been registered with NSW Land Registry Services, which is a requirement for property dealings in New South Wales. We promptly arranged for the registration of the Power of Attorney, ensuring the authority to act was formally recognised and that the transaction could proceed without delay or complications at settlement.

Our property lawyers prepared and finalised the Contract for Sale, liaised with the selling agent and purchaser’s solicitor, and ensured all necessary statutory certificates and disclosure documents were properly included. We also confirmed the relevant property details and inclusions before finalising the contract. Following exchange of contracts, we monitored the deposit, coordinated the electronic settlement through PEXA, and managed all pre settlement requirements to ensure the transaction proceeded smoothly.

Settlement was successfully completed, with all legal requirements satisfied. Throughout the matter we maintained clear and regular communication, keeping our client informed at every stage of the transaction and ensuring the sale under Power of Attorney proceeded efficiently and without stress.

Property lawyers and conveyancers are not the same, although both do conveyancing. A property lawyer is a qualified lawyer who can provide both conveyancing services and address any other legal issues associated with property. For example, our property lawyers can provide you with commercial and contract law advice and assistance. In addition, property lawyers can identify other legal issues outside the area of property law as they arise in your matter and provide you with advice and assistance accordingly. Knowing that a property lawyer can assist you with handling complex legal issues can give you a level of confidence that cannot be provided by a conveyancer alone. A conveyancer is only permitted to practice and assist people with conveyancing. As such, conveyancers only specialise in the sale, purchase, transfer and leasing of property. Conveyancers are not qualified to provide clients with advice in relation to legal issues outside of conveyancing.

At Brander Smith McKnight we do not use conveyancers.

In NSW you are not required to have legal representation when selling a property. However, due to the legal nature of selling property it is very wise to have an experienced lawyer assist you. BSM Sydney lawyers can provide a seller with invaluable legal advice regarding issues that may arise during the sale of your property, and assist in drafting an effective and legal contract of sale. This is particularly important as there are various documents that must be included in the contracts for the sale of different kinds of property. Furthermore, a property and conveyancing lawyer can assist with negotiating with the buyer of your property and help resolve disputes between you and a buyer.

You can do your own conveyancing, but it is not wise to do so. The process of conveyancing is complex, time consuming and can be very stressful for people without experience. In addition, the consequences of misunderstanding a contract or not performing the adequate checks and searches can be extremely costly to an individuals who does their own conveyancing. Before deciding whether to do your own conveyancing you should consider seeking legal advice. BSM Lawyer Sydney offer a 20-minute obligation free consultation.

Covenants impose certain obligations on landowners in relation to their land, they are either created by an agreement or by law. For example, a covenant may impose an obligation on developers to comply with certain construction standards in relation to the land. This may include limiting the size of structures developed on the land or limiting the kind of materials that can be used in construction on the land. Covenants may also attach to property leases, for example, a lease may include a covenant to repair. A covenant to repair is a covenant which imposes an obligation on the tenant of a property to repair damages to the property leased to them.

A property lawyer can assist you in identifying whether any covenants exist in relation to a property.  Please see our informative article on Covenants and Easements

Easements are registered interests on land that grant specific rights to parties who do not own the land to use it for a particular purpose.  A common example of an easement includes a situation where a landowner has the right to access their property thorough the use of a shared driveway. An easement may also exist where part of a person’s property is used commonly as a thoroughfare for pedestrians.

A property lawyer can assist you in identifying whether any easements exist in relation to a property.

You may need to access a loan if you are looking to purchase a property. Before entering into a property transaction, you should try to find out the extent of your borrowing capacity. This will allow you to make a more informed financial decision when it comes to purchasing a property.

You can transfer a property or a share in a property to a family member through what is referred to as a “related party transfer”. In simple terms, a related party transfer is a means through which to transfer ownership or part ownership of a property to a related party. There are unique legal issues which must be considered in a related party transfer. A related party transfer may also not require a contract of sale, this is because in some instances a transfer document may be sufficient. Where a related party transfer can occur without the need of a contract of sale, parties can save both time and money.

It is important to note that you may have to pay transfer duty on a related party transfer. However, there are circumstances where specific parties to a related party transfer may not need to pay a transfer duty. The property and conveyancing lawyers at BSM Lawyer Sydney are able to advise whether you need to pay transfer duty, previously known as stamp duty.

Electronic settlements are a way to avoid completing settlements in person. Electronic settlements can save time and is a very convenient way to complete settlements.

Brander Smith McKnight’s conveyancing lawyers provide a fixed fee professional conveyancing service. Our lawyers will provide you with clear and transparent descriptions of all costs.

Before buying a property, it is important to be aware of the various costs that may arise throughout the transactions, these costs include:

1. The purchase price of the property
2. Transfer duty
3. Title search fees
4. Lawyer fees
5. Fees associated with mortgage and loan documents
6. Registration fees
7. Insurance
8. Removalists
9. Property inspections

Settlement is the last step in the sale/purchase of property.  At settlement the ownership of the property is transferred to the buyer following their payment of the purchase price.
Settlement typically takes place 6 weeks following the exchange of contracts between parties.  The date of settlement can be negotiated to a date that suits both parties, a conveyancing lawyer can assist you with these negotiations.

Settlement can be a stressful time in a property transaction, having an experienced conveyancing lawyer take charge of all legal aspects and perform all of the requirements will help alleviate this stress.

A conveyancing lawyer has the ability to read complex and difficult to understand legal contracts and explain what it means and your rights and obligations.  They will also negotiate the amendment of terms if required.

Having a lawyer review contracts in a property transaction provides a clearer understanding of the buyer and seller’s contractual obligations and legal complications.

In NSW, transfer duty is a tax that must be paid when you buy property. The amount of transfer duty that needs to be paid is dependent on the characteristics of the property purchased. Transfer duty must also be paid when you acquire property without buying it, such as where property is transferred as a gift.  Transfer duty was once known as stamp duty. In some situations you may be able to avoid paying this. See our article on Transfer of property ownership between related parties.

A ‘simultaneous settlement’ is where the sale and purchase of property occur at the same time. A conveyancing lawyer can help you organise a simultaneous settlement.

There is no definitive description of how long conveyancing takes. In NSW, it typically takes 6 weeks for the process of conveyancing to be completed. However, you can negotiate for the completion of conveyancing in a shorter time or longer period.

A conveyancing lawyer can assist you when negotiating how long conveyancing will take, this should be done as early as possible.

In NSW, a cooling off period is a period of time that commences after a buyer enters into a contract for the sale of certain kinds of property. During the cooling off period the purchaser can decide to rescind their contract for the purchase of a property. The length of a cooling off period is set under law by default at 5 business days but a shorter or longer cooling off period can be negotiated in your contract for the sale of property.

If a property dispute arises during the process of conveyancing, Brander Smith McKnight’s lawyers can assist you in resolving the dispute without going to court. Our expert lawyers resolve the vast majority of property disputes without the need for expensive and time-consuming litigation. We have the expertise to achieve excellent results using alternative dispute resolution, particularly through strong negotiation.

There are various differences between selling property at auction versus doing so by private treaty, these differences should be considered carefully when selling a property. When selling property by auction you will sell your property to the highest bidder and there is no cooling off period. There can also be no amendments to the contracts following the selling of a property at auction. When selling a property by private treaty a price is agreed upon by a seller and purchaser. Following the exchange of contracts there is a cooling of period and negotiations to the contract can be undertaken.

A conveyancing lawyer can assist you in further understanding the nuanced differences between selling a property at auction versus by selling a property by private treaty.

An ‘off-the-plan’ property is a property that is not built yet, these properties can be purchased. When deciding whether to purchase an ‘off-the-plan’ property, prospective buyers should review the properties plans, schedules and perhaps visit developments that have been completed by the same developer. You may want to consider seeking legal advice in relation to your contracts when purchasing an ‘off-the-plan’ property so that its terms, conditions and obligations can be explained to you. It is important to recognise that ‘off-the-plan’ properties can take months or years to develop. Accordingly, contracts for the sale of ‘off-the-plan’ property typically provide a specific date by which the development must be completed.

You can negotiate special terms and amendments to your contract for the sale of property following its signature during the cooling off period. A conveyancing lawyer can assist you in negotiating these special terms and amendments to your contract.

In property law, ‘title’ refers to the rights of ownership over property. The title to a property is typically acquired through the process of conveyance.

In property law, an option is best understood as a right to buy or sell property at some point in the future. There are various kinds of option agreements that can be made in relation to property. A call option is an agreement which affords a party the right to buy some specific property from a seller at some point in the future. A put option is an agreement which affords a party the right to compel a purchaser to buy a specific property at some point in the future. A put and call option is an agreement which affords both parties to the agreement the right to compel the sale or purchase of a specific property at some point in the future. For further information, please see our informative article on put and call options.