Frequently Asked Questions

Both a Conveyancer and Solicitor or can provide legal advice in relation to matters of Conveyancing.
Conveyancers are specialized and focus solely on the legal aspects of buying and selling real estate while Solicitors also handle other concerns such as Wills, Family Law and Criminal matters.
Due to its specialty, Licensed Conveyancers have intensive experience in dealing with Conveyancing as they are solely focused on property transactions.
When you engage a Solicitor they also often refer the work to their conveyancer.

Yes usually. Conveyancers usually cheaper than Solicitors and they charge a Fixed Rate rather than charge by the hour which can be costly.
At Same Day Conveyancing we offer a Fixed Fee. Find out our Fees.

Definitely! A licensed conveyancer must be qualified with at least 2 year's experience before being granted a licence. Conveyancers must also hold Professional Indemnity Insurance.
At Same Day Conveyancing, we are fully licensed and have years of experience. About us

This is not necessary.
While it is advisable to choose a selling agent who specializes in the area, you do not have to choose a conveyancer the same way.
With today’s technology, Same Day Conveyancing can do any conveyancing matter remotely without you needing to visit our office. Documents are sent via email and zoom virtual meetings can be arranged when necessary.

Once you have your finance approved and are ready to buy. We suggest that you contact us as soon as you have found a property you wish to purchase and request the contract from the real estate agent so that we can review it.

At Same Day Conveyancing we offer FREE Contract Review with SAME DAY turnaround time. Find out more

If you are selling your property, you will need have a Contract for Sale before you can put the property on the market. We can prepare a Draft Contract on the SAME DAY. Find out more

No.
If you are buying, half of our Fees plus disbursement plus GST are payable after contract has exchanged and the remaining balance is payable at settlement.
If you are selling, our fees for contract preparation are $150 plus disbursement plus GST are payable upon completion of contract and the remaining balance is payable at settlement.

Under a standard contract, a purchaser has a right of a cooling off period for 5 business days from the contract date. This is usually used to finalize their financial arrangements, undertake pre-purchase inspections or carry out due diligence. If the purchaser decides not to proceed for whatever reasons during cooling off period, they lose 0.25% of the Purchase Price. 0.25% of the Purchase Price is set to be a fair compensation for the seller/vendor to take the property off the market during cooling off period.

The cooling off period does not apply if you buy a property at auctions. We strongly recommend that you speak with your lender/broker first and satisfy yourself with the pre-purchase inspection before you attend an auction and commit to buy.

An off the plan purchase refers to purchasing a property that does not yet exist. All information relation to the property and the terms and conditions is stated in the contract and the completion is subject to registration of the plan.
Therefore, it is important to have the contract reviewed prior to signing the contract. Contact Us.

At traditional paper settlements
The interested parties (incoming mortgagee, outgoing mortgagee, the purchaser’s and vendor’s settlement agent/conveyancer) will meet at the agreed location (settlement venue) to exchange documents and a cheque is provided. Once the cheque/payment is cleared the lender/vendor’s conveyancer will lodge for registration which can take several days before the ownership is transferred.
At Electronic/online Settlements via PEXA
A workspace will be created and only the relevant parties are invited (incoming mortgagee, outgoing mortgagee, vendor’s and purchaser’s conveyancer).
At settlement, the incoming mortgagee (or the purchaser’s conveyancer if the purchaser is a cash buyer) will release the funds which will be held at The Reserve Bank pending the registration.
Once the new owner has been registered on the title, the funds will be released to the seller/vendor or be distributed to other parties as per vendor’s instructions.
The advantages of using this platform are that it is a paperless transaction reducing the risk of manual errors, it is convenient and most importantly registration on title and sale s can be transferred on the same day.
Effective as at 1 July 2019, all standard conveyancing transactions in NSW must be affected electronically.

Usually the keys can be collected from the real estate agent once settlement is completed.

The tenant will remain at the property and the existing lease remains in force with the new purchaser as the new landlord.
The rental arrangement for the property will be adjusted at settlement.
If the rent is paid in advance, then the vendor will give you a credit at the settlement for that portion of the rent already paid from settlement date to the end of period. If the rent is in arrears, then no adjustment is made.

Stamp duty (transfer duty) is a tax imposed by State or Territory Government on certain transactions which include Transfer of Property. In NSW, the cost of the stamp duty is based on the Purchase Price. The higher the purchase price, the higher the amount of stamp duty payable. Click here to calculate your stamp duty
If you are a First Home Buyer, you may be eligible for stamp duty discount or exemption. Click here to find out more
If the Purchase Price is greater than $3,000,000.00 you may have to pay additional Surcharges. Client here to find out more