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Buying Property in NSW: Legal Support for a Confident Purchase
If you’ve found the perfect property, congratulations, you’re already over one of the hardest parts. The next step is ensuring that everything from contract to keys goes smoothly. At Fred Kalouche & Associates, our experienced property lawyers guide you through the entire home-buying process, protecting your rights and helping you avoid costly surprises.
Purchasing a home is likely one of the largest financial decisions you’ll ever make. That’s why we always recommend legal advice before signing anything. Our lawyers can review contracts, explain your obligations, and give you confidence to move forward.
Understand Your Financial Position
Before signing a contract, it’s crucial to understand all associated costs. These include pre-contractual statements outlining fees and charges, mortgage documents, stamp duty, and legal costs. You have every right to take time to review documents, and we strongly advise against signing anything on the spot without legal advice.
Pre-Purchase Inspections Matter
A building and pest inspection is essential for identifying potential issues with the property. These professional reports highlight structural defects, pest infestations, and immediate repair needs. If problems are found, they can often be used to negotiate a reduced purchase price. Don’t know who to contact for inspections? We can recommend trusted providers.
Important information: NSW Fair Trading – Building Inspection Reports.
Making an Offer
Once you’re satisfied with the inspections, you can make a formal offer. You may be asked to pay a small holding deposit, usually refundable, but note that the property can still be shown to other buyers until contracts are exchanged.
Contract Review & Negotiation
When your offer is accepted, we review the Contract for Sale on your behalf. This ensures you fully understand your legal obligations, any unfavourable terms are identified, and special conditions can be negotiated in your favour. At this stage, you’ll typically need to pay a 10% deposit. However, if this isn’t feasible, we may be able to arrange a deposit bond or guarantee.
Exchange and Settlement
Once contracts are signed and exchanged, the cooling-off period (if applicable) begins. After this, the sale becomes legally binding. Your Fred Kalouche & Associates lawyer will arrange stamp duty payment, coordinate with your lender and mortgage provider, check with government agencies for interests on the property, investigate any outstanding council rates or water charges, calculate adjustments for levies and utilities, and conduct a final title check.
On settlement day, we attend the formal meeting with the seller’s lawyer or conveyancer. Funds are transferred, the title is registered, and you receive the keys to your new home.
Frequently Asked Questions About Buying Property in NSW
Why do I need a lawyer when buying a property?
A property lawyer ensures your contract is fair, helps identify potential legal issues, and guides you through complex steps like contract exchange and settlement. This reduces the risk of costly mistakes or unexpected problems.
What is included in a contract review?
A thorough contract review covers terms and conditions, special clauses, deposit requirements, cooling-off periods, and any restrictions or obligations related to the property. We also check for any potential risks that might affect your purchase.
Can I negotiate the purchase price after inspections?
Yes. If building or pest inspections reveal problems, you may be able to negotiate a lower price or request repairs before finalising the sale. Your lawyer can help you use inspection reports effectively during negotiations.
What happens on settlement day?
On settlement day, your lawyer coordinates with the seller’s lawyer and lenders to exchange funds for the property title. Once the transaction is complete, you receive the keys and officially become the property owner.
Fred Kalouche & Associates
Looking for a Reliable Dedicated Professional Results-Driven Partner?
Legal challenges can feel overwhelming, but you don’t have to face them by yourself. At Fred Kalouche & Associates, we listen carefully, understand your unique situation, and provide clear, compassionate, and confident guidance.
Your peace of mind is our priority. Let us support you as you take the next step forward.