Australia — Property: Legal Checks

Why this matters

For a relocating person, understanding legal checks is crucial to ensure a smooth property purchase process in Australia.

Key facts

• Conveyancing is a common term for the transfer of property ownership in Australia.
• The fee for a professional inspection service is small compared with the cost of buying a property that needs unforeseen repairs. A qualified inspector will typically conduct a title search and review plans and drawings.

Steps

1. Step 1: Engage a Conveyancer or Solicitor — Engage a licensed conveyancer or solicitor to assist with the property purchase process, including conducting relevant searches and preparing the necessary documents.
2. Step 2: Conduct a Title Search — The conveyancer or solicitor will conduct a title search to verify the seller's ownership of the property and check for any outstanding mortgages or liens.
3. Step 3: Review Plans and Drawings — The buyer may conduct a search of the property's plans and drawings to verify the property's boundaries and layout.
4. Step 4: Finalize the Purchase — Once all searches and reviews are complete, the conveyancer or solicitor will finalize the purchase, including preparing the necessary documents and transferring ownership.

Costs

• Stamp duty: varies by state or territory

Timelines

• Conducting title search and reviewing plans and drawings: typically 1-2 weeks

Required documents

• Title deed
• Transfer of ownership document
• Plans and drawings
• Search results

Common mistakes

• Not engaging a licensed conveyancer or solicitor
• Not conducting a thorough title search
• Not reviewing plans and drawings carefully