Can I make an offer before getting legal advice?

You can, but it is much better to have the contract reviewed first. Issues with the disclosure documents, easements, zoning or special conditions are easier to address before the offer is accepted than after.

What is the cooling off period?

Most residential purchases by private treaty in NSW have a 5 business day cooling off period from exchange. Auction purchases have no cooling off. Cooling off can be waived by a section 66W certificate, often required when bidding informally on a property listed for auction.

When do I pay stamp duty?

Stamp duty is generally payable within 3 months of exchange, or at settlement if earlier. First home buyer concessions and the off the plan deferral can change the position significantly.

Do I need to attend settlement?

No. Settlement now happens electronically between the parties' representatives. You will be notified as soon as settlement has occurred and arrangements for keys will already be in place with the agent. Get in touch with Shah & Co Lawyers if you would like a walkthrough of the process.

Sydney federation terrace home at golden hour

Residential Purchases

Acting for purchasers of residential property, including contract review, exchange, cooling off, stamp duty, finance conditions and settlement.

Buying a Residential Property

Buying a property is usually the largest commitment you will make, and the contract decides almost everything that follows. Once you sign, your options narrow quickly, so the important work happens before exchange. We review the contract, explain it in plain English and guide you through to settlement.

Before You Sign the Contract

The contract sets the deposit, the settlement date, what is included in the sale, and who carries the risk if something goes wrong. Attached certificates can reveal easements, zoning restrictions, unapproved works, strata levies or planned building work that affect value and use.

Contract Review and Negotiation

We work through the contract and disclosure documents and report to you in plain English on the risks, then negotiate amendments to the settlement date, inclusions and special conditions before you commit.

From Due Diligence to Life After Settlement

Searches, Due Diligence and Strata Checks

Council, planning and title searches confirm nothing affects the property that the contract did not disclose, including outstanding notices, road widening proposals or drainage easements. Where the property is in a strata or community scheme, we also review the records for building defects, upcoming levies and disputes affecting the owners corporation.

Finance, Deposit and Cooling-Off

Most private treaty purchases carry a 5 business day cooling off period, which does not apply at auction. We advise on the deposit, any finance condition you may need, and whether a section 66W certificate waiving cooling off is appropriate in your circumstances.

Exchange and Settlement Preparation

Once amendments are agreed, contracts are exchanged and the deposit is dealt with. In the lead up to settlement we finalise loan documents with your lender, calculate adjustments for rates and levies, and carry out a pre settlement inspection to confirm the property is in the agreed condition.

Settlement and What Follows

Settlement takes place electronically through PEXA, with funds and title transferring simultaneously and the transfer and mortgage registered. We send you written confirmation and attend to post settlement notices, including to council and water authorities, so your records are updated promptly.

Our process

How a matter of this kind moves from first contact to outcome.

Contract Review

We review the contract and disclosure documents and report to you in plain English on the risks.

Due Diligence and Finance

Searches confirm the property matches the disclosure documents while your finance is put in place.

Negotiate Amendments

We request changes to the terms, including settlement date, inclusions and special conditions.

Exchange Contracts

Contracts are exchanged, the deposit is dealt with and we explain your cooling off position.

Pre-Settlement Checks

A final inspection and adjustment calculations confirm everything is ready for completion.

Settlement

Settlement takes place electronically, the keys are released and registration and notices follow.

How Shah & Co Lawyers can assist

Here is the practical support we provide as your purchase moves from first read to keys in hand.

Pre Exchange Contract Review

A written report on the contract before you are committed.

Negotiating Amendments

Changes to special conditions, inclusions and settlement timing.

Searches and Enquiries

Council, planning and title searches to confirm what you are buying.

Stamp Duty Advice

Duty, first home buyer concessions and foreign purchaser surcharge.

Cooling Off Advice

Your rights during the cooling off period and section 66W certificates.

Electronic Settlement

Settlement in PEXA, with adjustments, registration and post settlement notices.

What we look for in your contract

Easements, covenants and restrictions that limit how you can use the land.
Zoning, road widening proposals and planning notations.
Unapproved structures or works without a final occupation certificate.
Strata records, levies, special levies and building defect history.
Special conditions that shift risk, cost or delay onto the buyer.

What to have ready

The contract for sale and any documents provided by the agent.
Your finance pre approval details and lender or broker contact.
Identification for verification of identity requirements.
Any pest and building inspection reports you have obtained.

Frequently asked questions

General information only. Every matter turns on its own facts.

Other property law & conveyancing services

View all

Need Legal Advice?

Have your contract reviewed before you sign.

Arrange a confidential consultation. Discreet, professional and tailored to your circumstances.

Arrange a Consultation Call (02) 8281 6613