Everything you need to know about Conveyancing
Conveyancing is essential in any property transaction, ensuring the legal transfer of property ownership from one party to another. Whether buying or selling a property in NSW, understanding the ins and outs of conveyancing is essential to avoid legal pitfalls. This blog will explain conveyancing, how it works, and its importance in every property transaction.
What is Conveyancing?
In simple terms, conveyancing is the legal process of transferring property ownership from one individual (the seller) to another (the buyer). The process ensures that all legal obligations are met and that the buyer obtains a clear and marketable title to the property. It involves various legal, administrative, and financial tasks that a licensed conveyancer or a conveyancing solicitor must handle.
The Role of a Conveyancer

A conveyancing solicitor is a professional who specialises in property law and the legal aspects of buying and selling real estate. They handle all the legalities in property transactions, from preparing contracts to conducting property searches and finalising settlements. Solicitors provide broader legal expertise in contract disputes, zoning regulations, and litigation. In comparison, a licensed conveyancer focuses solely on property transactions.
Key Steps in the Conveyancing Process
Now that you know what conveyancing is, let’s walk through the key steps in the process. Understanding these steps will give you a clearer idea of what to expect when buying or selling a property in NSW
1. Pre-Contract Stage
Before signing any contracts, the solicitor or conveyancer thoroughly checks the property. This stage involves:
- Title searches: Ensuring the seller is the legal owner and has the right to sell the property.
- Property searches: Checking for any restrictions, easements, or covenants that may affect the property.
- Reviewing contracts: The conveyancing solicitor or conveyancer reviews the contract of sale to ensure all legal aspects are properly addressed.
These checks protect the buyer from potential legal issues or complications.
2. Exchange of Contracts
Once both the buyer and the seller agree on the terms of the sale, contracts are exchanged. At this point, both parties are legally bound to proceed with the transaction. The buyer pays a deposit, usually 10% of the purchase price.
The buyer’s solicitor or conveyancer will then ensure that:
- The contract is fair and accurate.
- Any special conditions agreed upon are included in the contract.
- The buyer’s rights and interests are protected.
3. Cooling-Off Period
In most NSW states, there is a cooling-off period, a set number of days (usually 5 business days) during which the buyer can back out of the sale without significant financial penalty. If the buyer decides to withdraw, they will usually forfeit a small portion of their deposit.
4. Finance Approval and Property Inspections
Once the contracts are exchanged, the buyer arranges any necessary building or pest inspections. If the property is found to have any significant issues, the buyer can negotiate repairs or potentially withdraw from the sale (depending on the contract terms).
Additionally, this is the time when the buyer should secure their mortgage. The conveyancing solicitor or conveyancer will liaise with the buyer’s financial institution to ensure the necessary finance is in place for settlement.
5. Settlement
Settlement is the final stage of the conveyancing process, where the property officially changes hands. On the settlement day:
- The buyer pays the remaining balance of the purchase price.
- The title is transferred to the buyer’s name.
- The keys are handed over to the buyer and officially become the property’s new owner.
The solicitor or conveyancer manages the settlement process, ensuring all payments are made, and the title is transferred correctly. They will also ensure that any outstanding rates or taxes are paid and that the buyer has clear ownership of the property.
Why is Conveyancing Important?
Conveyancing is crucial because it ensures that property ownership is legally transferred smoothly and without complications. Failing to use a professional conveyancer or solicitor could result in:
- Hidden liabilities, such as unpaid rates or taxes.
- Property restrictions or easements that limit what you can do with your property.
- Unclear property titles, which could affect your legal ownership.
By hiring an experienced conveyancing solicitor or licensed conveyancer, you can protect yourself from these potential issues and ensure that the transaction proceeds smoothly.
How Long Does the Conveyancing Process Take?
On average, the process takes 4 to 6 weeks from the exchange of contracts to settlement. However, the time frame can vary depending on the complexity of the transaction, the property type, and other external factors like delays with finance approval or property searches.
DIY Conveyancing – Is it Worth the Risk?

Some buyers and sellers might be tempted to undertake DIY conveyancing to save on fees. However, the legal complexities in property transactions make this risky. Missing a critical step, misunderstanding contract terms, or failing to conduct the right searches could lead to costly mistakes or legal disputes.
Given the significant financial investment in buying or selling property, seeking professional help from a licensed conveyancer or conveyancing solicitor is always advisable to ensure the process is completed without error.
Conveyancing in the Digital Age
Digital conveyancing has become more common in recent years, particularly in NSW. Platforms such as PEXA (Property Exchange Australia) have streamlined the process, allowing for online settlements and title transfers. This has significantly reduced the time and paperwork involved, making the process more efficient for buyers and sellers.
Costs Involved in Conveyancing
The cost in NSW varies depending on the transaction’s complexity and the property’s location. Generally, you can expect to pay between $800 and $2,000 for conveyancing services. This fee usually covers:
- Legal advice and preparation of documents.
- Property searches and title checks.
- Liaising with financial institutions.
- Managing the settlement process.
It’s important to note that conveyancing fees are typically separate from other costs involved in buying or selling property, such as stamp duty or mortgage application fees.
Feel free to call or email us anytime for an obligation-free and confidential discussion.
Frequently Asked Questions
While having a solicitor with local knowledge can be advantageous when selling a property, it’s important to note that conveyancing services are efficiently handled nationwide. Conveyancing solicitors and licensed conveyancers across NSW can manage property transactions without requiring specific area knowledge. Their expertise in the legal process ensures a smooth and efficient sale, regardless of location.
For a standard contract, the solicitor or the licensed conveyancer provides a detailed review via email within 1-2 business days. If you haven’t received the contract yet, don’t worry—our team at Eastside Legal can still walk you through your options and even contact the agent on your behalf to obtain the contract.