Knowledgeable Experienced and Proven Conveyancers
1800 248 330

Do and Dont’s

Before Looking To Buy Unit, House or Land
  • Do check your credit score with your mortgage broker. A bad credit score will affect your loan.
  • Don’t sign anything that you do not understand.
  • Do make a budget well in advance.
  • Don’t worry if your miss out on a property, there are a million more on the market.
  • Check with the Office of State Revenue (NSW) about stamp duty concessions and grants.
  • Don’t do anything that gives you pressure.
  • Do set aside $5,000 as an emergency fund.
  • Don’t believe every word a salesman tells you.
  • Do see or contact your conveyancer.
  • Don’t buy a property that you cannot afford.
  • Do get & email the full contract of sale of land to your conveyancer when you can.
  • Do pick the location you want to hunt.
  • Do check your emotions.
Period: Between Exchange & Cooling Off
  • Do take photos of all surfaces of the building and inclusions.
  • Don't sign any contract less than 42 days.
  • Do check that nothing is broken and everything is working.
  • Don’t believe every word that the agent says. Common sense prevails. A healthy scepticism is good.
  • Do insist on 10 working days cooling off instead of the long outdated 5 working days.
  • Don’t panic when the agent says “there are 3 other buyers coming”. It could be true or it might just be a lie.
  • Do make sure your mortgage broker is informed and your latest pay slips are given to your broker.
  • Don’t go unconditional if the loan is not formally approved.
  • Do order the Pest & building reports & strata report (unit) yourself and ask the inspector any questions directly.
  • Don’t believe the smooth talking agent, if it is not in writing, you have no recourse if they lied to you.
  • Do make sure you get the formal loan approval within the cooling off period.
  • Do ask for another extra 5 working days of cooling off period (to total 15) if needed.
  • Do rescind within the cooling off period if the loan is not unconditionally approved.
  • Do put in the 9.75% (total 100%) within the cooling off.
Period: Pre-Settlement, During Settlement and Post-Settlement
  • Do make sure you have enough funds to settle (Surplus will be better).
  • Don’t get a removal list to move your belongings into the property on the day of the settlement because 1% of the settlement does fail.
  • Do make sure all your money is with the same bank that you borrow & accounts are linked so all money can be accessed easily for settlement.
  • Don’t call your conveyancer 1 hour before settlement or during settlement. Your conveyancer will call you.
  • Do a final inspection at least 3 days before settlement. This will give room to solve any unforeseen problems. Contact the real estate agent for inspection & make sure to tell the agent that all rubbish is removed.
  • Don’t get your family to call us as we are very busy. Appoint one person as a point of contact.
  • Do collect keys from the real estate agent once we confirm that settlement was successful.
  • Don’t turn up to settlement as we have professional settlement agent doing that for you.
  • Do turn on your mobile phone in case we need to contact you for any urgent matters.
Before Selling Your Unit, House or Land
  • Do get in touch with a conveyancer before contacting the real estate agent.
  • Don't always go with the first agent, shop around for quality: salesmanship, performance and ethics.
  • Do make your property presentable before you ask an agent to give you a market appraisal.
  • Don't always pick the agent that over promise and under deliver.
  • Do contact at least 3 salesmen before deciding whom to pick.
  • Don't believe everything the salesmen tell you as he do have a commission interest and most probably will bend the truth.
  • Do consider other options of selling such as selling it yourself.
  • Don't be pressured by the salesman.
  • Do your own research about the different methods of selling such as by auction or the normal sale method.
Period: During Cooling off Period for purchasers
(Vendor has no cooling off period)
  • Do give an extension of cooling off if requested by the buyer & the reason is finance is not formally approved.
  • Don’t be too nervous, learn to control your emotion.
  • Do give an extension of 3 or 4 days each time to maintain a little pressure on the buyer.
  • Don’t turn off your phone so that your conveyancer cannot reach you.
  • Do give a discount instead of fixing any repair yourself, if buyer request. This is to avoid conflict with the insurance policy and save any arguments afterward.
  • Don’t agree to fix or repair anything as you might need to have insurance for this. There is a high chance that there will be arguments don’t track as to the issue of quality workmanship.
Period: Between end of Cooling Off and Settlement
  • Do fill out the discharge form & email back to us immediately.
  • Don't let the buyer have early possession as complication can arise.
  • Do carefully sign & have Annexure A witnessed properly & post original to us immediately to avoid delay.
  • Don't be too creative as this is only simple conveyancing.
  • Do pay mortgage as normal.
  • Don't ask us to shorten settlement period as settlement normally takes 42 days to settle from the exchange.
  • Do pay all Strata, Water & Council rates as normal up to 1 week before settlement.
  • Don't pressure us in anyways as we are concentrating on your work and other clients' matters.
  • Do clean under the house and inside the house & mown lawn 1 week before settlement.
  • Don't buy a property simultaneously until you have a 100% confirmation that the buyer has their loan 100% approved. If not all buy and sell will fall apart. Ask for evidence of load approval from buyer first.
  • Start to move out if applicable.
Period: Settlement and Post Settlement
  • Do keep your mobile phone on (or silent mode) as we may need to contact you.
  • Don’t turn up to settlement. A professional settlement agent will do that on your behalf.
  • Do call your conveyancer on the day of settlement 45 minutes after settlement but not before.
  • Don’t call your conveyancer 1 hour before settlement or during settlement as it’s a very busy time, they are coordinating your matter.
  • Do collect your 10% deposit minus the commission from the agent 1 hour after settlement.
  • Don’t ask us to shorten settlement period as settlement normally takes 42 days to settle from the exchange.
  • Do pay all Strata, Water & Council rates as normal up to 1 week before settlement.
  • Don’t pay any council, water or strata bills 1 week before settlement. If you do, there will be double adjustments.
  • Do collect the proceeds from your conveyancer the next working day after 2:30 pm.
  • Don’t pay any bills after settlement. Overlapping invoices are common up to 3 weeks after settlement. It’s no longer your bills.
  • Do stay calm, check your emotions.
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