The duration of the conveyancing process can vary based on several factors, such as whether the property is off-the-plan or if the vendor requires an extended settlement period due to their own property transactions. In New South Wales, the standard settlement period is generally 42 days from the date of the contract.

To facilitate your property purchase, we require the following:

• Valid identification documents.
• Confirmation of formal loan approval, if financing is involved.
• Details regarding tenancy on title, especially if there are multiple purchasers.
• Information on first home buyer status to assess eligibility for grants, including:

– Confirmation that you have never owned or held an interest in property in Australia.
– Verification that the property’s price falls within the grant’s threshold.
– Assurance that the property will be your principal place of residence for at least six continuous months, commencing within 12 months of settlement.

If your financing falls through after the expiration of the cooling-off period (applicable in NSW), you may be legally bound to the contract. This could result in financial penalties or forfeiture of your deposit. It’s crucial to secure formal loan approval before the cooling-off period concludes

Yes, Veles offers integrated legal and financial services to streamline your property transactions. However, sharing information between our legal and financial teams requires your explicit consent to ensure compliance with privacy regulations.

Yes, transferring property to a family member is possible, often referred to as a related party transfer. This process involves specific legal and stamp duty considerations. Our team can guide you through the necessary steps to ensure compliance with all legal requirements

While not legally required, engaging a lawyer for a private property sale is highly recommended. A legal professional ensures that all contractual obligations are met and that your interests are protected throughout the transaction.

Conveyancing costs can vary based on the complexity of the transaction and the services required. Our team provides transparent pricing and will offer a detailed quote tailored to your specific needs.

Stamp duty varies for each state in Australia. As a rule of thumb it’s 3-4% of the property value. However to get accurate stamp duty for your situation, please use our calculator (link to calculator).

To initiate your property transaction with Veles Legal, please contact us via our website or call our office directly. Our team will provide you with a comprehensive overview of the process and the necessary documentation to begin.