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Your offer or bid is accepted. So what happens next?

By Rick Schafer

Your purchase now begins the conveyancing process which is formalised into two parts.

  1. The exchange of the contract of sale
  2. The settlement of the contract of sale 

At this point, it is highly recommended to employ the services of a professional conveyancer or conveyance solicitor to ensure the process goes as smooth as possible.

They will help you with:

  • Undertaking title searches to determine if there are any liens, restrictions, encumbrances, or taxes against the property.
  • Meeting all special conditions in the contract of sale.
  • Ensuring that council and water rates are up to date in payment and that any other rates are similarly paid and adjusted as needed.
  • Paying any other fees or charges, including registration fees and stamp duty.
  • Preparing all legal documents required to transfer the property’s title from the seller to the buyer.

Source: raywhite.com

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