Buying a Property

For most people buying a property is the most important and biggest investment decision they are likely to make in their life.

Unfortunately, if you don't do your homework properly or you receive bad advice it can also be one of the most traumatic and stressful experiences of your life.

By using Strand Conveyancing for your conveyancing needs you can at least take some of the stress out of this important process and rest assured that you are being looked after by a qualified conveyancer or solicitor.

This process varies from State to State. If you wish to have a State specific process then please ask the relevant office.

The process for selling a property can be broken into three stages as follows:

Pre Exchange / Preparation to Purchase

You should:
  • Obtain a home loan pre-approval.
  • Start researching the market in the area you wish to purchase, speak to Real Estate Agents, attend open houses, look at home price guides.
  • Find your dream property, negotiate a price, ask your Real Estate Agent to send the contract to Strand Conveyancing.
We will:
  • Review the contract for sale and advise you of any further requirements if required.
  • Assist with the completion of special contractual conditions and requirements.

Exchange / Purchase

You should:
  • Pay the deposit which is usually 10% of the purchase price by way of cash or deposit bond.
  • Sign the contract.
  • Liaise with your bank or broker and ensure that the loan is approved.

Post Exchange / Processing of Real Estate contract

You should:
  • Start organising to move from your old home to your new one (where applicable).
  • Arrange for your mortgage documents to be signed and sent to your lender.
  • Ensure your loan monies will be ready for settlement.
  • If you are a first home buyer, complete the First Home Owners Grant forms with your lender.
  • Forward balance of settlement monies to be paid to seller and stamp duty to Strand Conveyancing by way of bank cheques or as directed by us.
  • Arrange a final inspection of the property with the Real Estate Agent.
We will:
  • Order and check all remaining searches.
  • Advise you of any additional searches that may be required by your lender.
  • Assist you to meet any requirements imposed on you by your lender.
  • Assist you to complete the First Home buyers stamp duty exemption form.
  • Liaise with lender to ensure they are prepared for settlement.
  • Prepare settlement figures and book settlement with your lender and the seller's solicitor.
  • Prepare a property transfer and arrange to have the Transfer and Contract for Sale endorsed with duty paid (stamp duty paid).
  • Advise you and your lender of cheque details for settlement.

Settlement

You should:
  • Organise with the Real Estate Agent a time and place to collect the keys. Ensure the agent has keys to all locks including mailboxes, remote controls for garage doors and alarm codes.
We will:
  • Attend settlement and ensure that all Title Documents are in order.
  • Pay the settlement monies to the seller's solicitor or conveyancer.
  • Contact you and the Real Estate Agent to confirm that settlement has taken place.
Following Settlement we will:
  • For purchasers without a mortgage, lodge necessary documents for change of ownership with the Department of Lands and then send you your Title Deed when it has been registered.
  • Send you a settlement confirmation letter.
  • Retain your file for 7 years, making it easier for you to provide us with instructions if you decide to sell your property!

Strand is committed to working with all parties, keeping everyone fully informed of any requirements within the law and will work together towards a smooth hassle free transaction. We are here to help: