Buying a Property: Conveyancing FAQs
PROPERTY BUYER FAQs. ASK. OWNED.
When should I hire a conveyancer when buying a property?
Ideally, before you sign a contract or bid at auction. The earlier we’re involved, the more we can protect you by reviewing the contract, identifying legal risks, checking key property information, negotiating terms where appropriate, and explaining everything in plain English.
Whether you’re buying in Sydney, Melbourne, Brisbane, Adelaide or Canberra, getting us involved early means fewer surprises and a clearer understanding of what you’re committing to before the deal becomes binding.
What exactly is a Contract of Sale?
It is the legal blueprint of your property purchase. The contract sets out the price, deposit, settlement date, inclusions and exclusions, special conditions, and the rights and obligations of both buyer and seller.
Depending on where you are buying, there are also specific disclosure documents and certificates that must be provided as part of, or alongside, the contract. The requirements differ across NSW, Victoria, Queensland, South Australia and the ACT.
We review the contract carefully, explain what it means in plain English, identify legal risks or unusual conditions, check the relevant disclosure requirements and recommend amendments where needed, so you understand exactly what you are agreeing to before you sign.
What happens at an 'exchange of contracts'?
Exchange is when both parties sign identical copies of the contract, and your signed copy is swapped with the seller’s. It’s the moment the deal becomes legally binding. We handle the logistics (usually digitally), ensure deposits are paid correctly, and make sure your cooling-off rights or conditions are protected.
How long does conveyancing take when buying a home?
Most settlements happen in 4-6 weeks, but timing depends on finance, contract terms, and searches. In some cases (like auctions or cash purchases), it can be faster. We’ll give you a realistic timeline upfront and keep you updated in real time via our app.
What is the cooling-off period in NSW, VIC, QLD, SA and the ACT?
It’s a legal safety net that gives buyers a short period after entering into a contract to change their mind, although the rules and penalties vary between jurisdictions:
- NSW: 5 business days after exchange. It generally does not apply to auction purchases and can be waived with a Section 66W certificate.
- VIC: 3 clear business days after signing the contract, subject to exclusions such as certain auction-related purchases.
- QLD: 5 business days for most residential property contracts, subject to exceptions.
- SA: 2 clear business days, beginning when you receive the Form 1 Vendor’s Statement or sign the contract, whichever happens later. South Australia Government
- ACT: until 5pm on the fifth working day after the contract is made. If you rescind during the cooling-off period, you generally forfeit 0.25% of the purchase price. legislation.act.gov.au
Cooling-off rights do not apply in every transaction, particularly around auctions, and they can sometimes be waived or shortened. Your conveyancer should confirm exactly what applies before you sign or bid.
What is a Section 66W certificate?
In NSW, it’s a document signed by your lawyer or conveyancer that waives your right to a cooling-off period, making the contract unconditional. It’s a strong negotiating tool, but we only issue it after a full review of your contract and reports.
Do I need a building, pest, or strata report?
Yes. These inspections are your insurance against buying a lemon.
- Building: Checks for structural issues.
- Pest: Looks for termites and infestations.
- Strata: Reveals the financial and maintenance health of an apartment complex.
We recommend these before committing, or as a condition in your offer.
What is gazumping and how can I avoid it?
Gazumping happens when a seller accepts your offer but then sells to another buyer before the transaction becomes legally binding. It can happen in NSW, Victoria, Queensland, South Australia and the ACT, although the exact point at which the deal becomes binding differs between jurisdictions.
The best defence is speed and preparation: have the contract reviewed early, get your finance and due diligence in order, and move to a binding contract as quickly as possible. That reduces the window in which another buyer can step in with a better offer.
What's an Off-the-Plan purchase?
What’s an Off-the-Plan purchase?
An off-the-plan purchase is when you agree to buy a property before construction is complete, often before the individual title has been registered. The contract can involve long settlement periods, sunset clauses, staged development obligations and detailed provisions about changes to the finished property.
We explain your rights, deposit protections, sunset clauses, disclosure requirements and the key risks to watch for in NSW, Victoria, Queensland, South Australia and the ACT, so you understand exactly what you’re committing to before you sign.
Can I check if there are planned developments nearby?
Yes. We can order council and planning searches to reveal approved developments, zoning changes, or infrastructure projects that could impact your property.
What's a pre-purchase survey and do I need one?
A survey confirms property boundaries and structures match what’s on title. It’s optional for most buyers, but worth considering if the property boundaries are unclear or disputed.
What happens if I'm buying at auction?
There’s no cooling-off period, so you must have your contract reviewed and finance ready beforehand. We’ll complete a pre-auction review so you know exactly what you’re bidding on.
How is the deposit paid and where is it held?
It’s usually 10% of the purchase price, paid to the agent’s trust account at exchange. Sometimes we can negotiate 5% deposits or delayed payment terms.
What happens between exchange and settlement?
Titlespace will:
- Complete searches (title, rates, water, strata, etc.).
- Coordinate with your lender.
- Adjust council/water/strata fees.
- Keep you and your agent updated in real time.
What is a pre-settlement inspection?
It’s your final walkthrough before settlement to ensure the property is in the same condition as when you bought it, with all agreed inclusions left in place. If there’s an issue, we negotiate a fix or compensation.
Who arranges settlement?
Titlespace does. In NSW, Victoria, Queensland, South Australia and the ACT, most property settlements are completed electronically through platforms such as PEXA or, where available, Sympli.
We coordinate the settlement process with the other side, your lender and the relevant electronic settlement platform, so you generally do not need to attend in person. Once settlement is complete, we confirm that the transaction has gone through and let you know what happens next.
Who notifies the authorities after I buy?
We notify the local council, water provider, and (if relevant) strata manager. You’ll need to set up utilities like gas, electricity, and internet. We will help you with that through our Titlespace Connect concierge services.
What if settlement is delayed?
We act fast to protect your rights. If the seller is at fault, you may be entitled to compensation. If you cause the delay, penalty interest may apply, which is why we keep your file moving at pace.
What does 'vacant possession' mean?
It means you get the property empty and ready to move in. No tenants, furniture, or seller’s belongings. We make sure it’s clearly stated in the contract.
How can I own property jointly with another person?
- Joint Tenants: Equal shares, automatic transfer to the surviving owner.
- Tenants in Common: Defined ownership shares, passing under your will.
We’ll help you choose the right option. For more information check out our blog post about the differences between Joint Tenants and Tenants in Common.
Can you help First Home Buyers access grants and concessions?
Yes. We can help eligible first home buyers understand and apply for stamp duty concessions or exemptions and assist with the conveyancing requirements connected to available first home buyer schemes.
We also work with your broker where relevant on First Home Owner Grants and shared equity or government-backed home ownership schemes available in NSW, Victoria, Queensland, South Australia and the ACT.
Because eligibility rules, property value thresholds and available benefits differ between jurisdictions and can change over time, we confirm what applies to your purchase rather than assuming the same rules apply everywhere.
Can you act if I'm interstate or overseas?
Absolutely. Our 100% digital service means we can act for you wherever you are, from ID checks to settlement, without you setting foot in an office.
What's included in your fixed fee for buyers?
All legal work from contract review to settlement. Searches and government fees are charged at cost and quoted upfront. No hidden “surprise” extras.
How fast can you review my contract?
Urgent reviews can be done in hours. Standard reviews are usually within 48 hours, keeping you competitive in a fast-moving market.
What's the Titlespace 100% Satisfaction Guarantee?
If you’re not completely satisfied with our conveyancing service, we’ll refund our legal fees.
It’s our way of standing behind the service we provide and giving you extra confidence when you choose Titlespace. The guarantee applies to our legal fees and does not include third-party disbursements or other external costs.
