Conveyancing (NSW) FAQ

Section 52A requires prescribed documents including the title search, plan, section 10.7 planning certificate, section 149 sewer diagram, and drainage diagram. Failure to attach enables the buyer to rescind within the cooling-off period.

Residential property purchases in NSW have a 5 business day cooling-off period from exchange, during which the buyer can rescind forfeiting 0.25% of the price. It does not apply to auctions, or where a section 66W certificate is given.

A section 66W certificate is signed by the buyer's solicitor or conveyancer confirming legal advice on the contract, and waives the cooling-off period. It is commonly used where buyers want certainty on exchange without a cooling-off window.

Section 10.7 certificates (formerly section 149) are planning certificates issued by local councils disclosing zoning, development controls, flood, bushfire, contamination, and heritage information. They must be attached to a contract for sale.

Transfer duty is tiered from 1.25% to 5.5% on standard residential purchases, with premium rates above $3 million. Foreign purchasers pay an 8% surcharge. Duty is payable within 3 months of the contract date.

The First Home Buyers Assistance Scheme exempts purchases up to $800,000 (new or existing) and provides concessions up to $1 million. Eligibility requires residency and that the buyer has not previously owned property in Australia.

A $10,000 grant for buyers of new homes under $600,000 (or building contracts under $750,000 including land). The buyer must be an Australian citizen or permanent resident and occupy the home for at least 6 months.

Title search, plan, section 10.7 certificate, sewer diagram and service location diagram, council rates certificate, water rates certificate, land tax search, and on strata properties, section 184 certificate and strata inspection report.

A section 184 certificate is issued by the owners corporation for strata properties, disclosing levies, arrears, proposed special levies, insurance, by-laws, and known defects. It is attached to strata contracts.

PEXA (Property Exchange Australia) is the electronic lodgement network used for almost all NSW settlements. Parties' representatives lodge documents and transfer funds simultaneously through the workspace — no physical settlement.

After exchange, the parties agree a settlement date (typically 42 days, but negotiable). The PEXA workspace is set up, documents prepared, and settlement locked in — usually between 10am and 4pm on settlement day.

Off-the-plan purchases in NSW require a 10 business day cooling-off period and a disclosure regime including attached drafts, plans, specifications, and agreements. Substantial material changes can trigger buyer rescission rights.

Under section 66ZS, developers cannot unilaterally rescind off-the-plan contracts using sunset clauses without the buyer's consent, a court order, or prescribed circumstances. This protects buyers from opportunistic rescission in rising markets.

A caveat is lodged on title with NSW Land Registry Services to protect an equitable interest. Buyers often lodge caveats after exchange to prevent dealings before registration of transfer at settlement.

Land tax is payable annually on investment property in NSW above the tax-free threshold (indexed). The buyer searches the land tax position before settlement and the seller provides a clearance certificate to clear any charge on title.

Foreign purchasers pay an additional 8% surcharge stamp duty on residential property purchases in NSW and a 5% land tax surcharge annually. There is also Foreign Investment Review Board (FIRB) approval in most cases.

The innocent party can serve a notice to complete under the contract (typically 14 days). Failure to complete within that time can entitle termination and forfeiture of deposit, plus damages for loss on resale.

Licensed conveyancers are permitted to carry out conveyancing work in NSW under the Conveyancers Licensing Act. Solicitors can also do conveyancing. Complex matters (trusts, rural, commercial, family disputes) benefit from a solicitor.

Common risk areas: subject-to-finance wording, building and pest inspection conditions, tenancy clauses, chattels and inclusions, GST clauses, and release-of-deposit terms. Each special condition should be reviewed before exchange.

Licensed conveyancer: $700-$1,500. Solicitor: $1,200-$2,500. Complex matters (off-the-plan, rural, company title, commercial): $2,000-$5,000+. Disbursements for searches and registration fees typically add $500-$1,000.