Remember when property settlements involved everyone sitting around a table exchanging enormous bank cheques and stacks of paperwork?

The frantic phone calls. The yelling across the settlement room. The last-minute scramble when someone’s bank cheque was wrong.

We might be in the minority here, but we actually miss it.

There was something strangely satisfying about the chaos, the adrenaline and finally walking out knowing you’d pulled off another settlement.

These days, property settlements in NSW are completed electronically, usually through a platform called PEXA.

It’s faster, more efficient and considerably less dramatic.

Although, for those of us who remember the old settlement rooms, perhaps just a little less exciting.

What is PEXA?

PEXA (Property Exchange Australia) is an electronic conveyancing platform used to complete property settlements.

Instead of everyone physically meeting to exchange cheques and documents, the parties involved in your transaction, including the conveyancers, solicitors and banks work together in a secure online workspace.

Through PEXA, settlement funds are transferred electronically and the relevant documents are lodged with NSW Land Registry Services.

You don’t need a PEXA account or to log in yourself. That’s our job.

How does digital settlement work?

Before settlement day, we coordinate with the other parties through the PEXA workspace to prepare everything needed for completion.

This includes:

• Preparing and checking the transfer documents.
• Liaising with the incoming and outgoing banks.
• Confirming settlement adjustments and financial figures.
• Arranging for funds to be available and distributed correctly.
• Ensuring the necessary documents are signed and ready for settlement.

Once everything is ready, settlement is scheduled to take place electronically.

If all parties and banks are ready, the funds are transferred and the documents are lodged.

No bank cheques. No settlement room. No running across Sydney with a folder of paperwork.

What happens on settlement day?

For buyers and sellers, digital settlement in NSW is generally fairly straightforward.

You don’t need to attend settlement or sit in front of your computer watching PEXA.

We’ll monitor the process and let you know once settlement has been completed.

If you’re buying, we’ll also notify the agent so they can release the keys.

If you’re selling, we’ll provide the agent with an Order on Agent following settlement, authorising the release of the deposit held in their trust account, less any agreed deductions such as the agent’s commission.

One important point: don’t assume settlement will happen at the exact scheduled time.

Banks can be delayed, figures can need adjusting and occasionally technology decides it has other plans.

That’s why we generally recommend avoiding booking removalists for settlement day if you can.

Nobody wants a removalist truck parked outside a property you don’t legally own yet.

What do you need to do before settlement?

Most of the preparation happens well before settlement day.

We’ll guide you through the necessary paperwork, including your Verification of Identity (VOI) and Client Authorisation, which allows us to act electronically on your behalf.

If you’re purchasing with finance, you’ll also need to complete your lender’s requirements and ensure any additional funds needed for settlement are available when required.

And don’t forget your pre-settlement inspection if you’re purchasing. It’s your opportunity to check the property’s condition before completion.

We’ll take care of coordinating the legal settlement process and keep you informed along the way.

Can a PEXA settlement be delayed?

Yes.

Electronic conveyancing has made settlements much more efficient, but it hasn’t eliminated every possible delay.

Banks can run behind, funds might not be ready or another party in the transaction may not be prepared to settle.

And occasionally PEXA itself experiences technical issues.

We monitor the workspace, liaise with the relevant parties and work to resolve issues as quickly as possible.

Because while we love technology, we’re still waiting for the version that makes banks move faster.

Does your conveyancer need to be local?

Not necessarily.

Because PEXA settlements are completed electronically, your conveyancer doesn’t need to be physically located near the property.

At MG Conveyancing, we act for clients buying and selling property across NSW, with offices in Sydney and on the Central Coast.

We can arrange electronic signing and remote appointments where appropriate, making the process convenient wherever you are in Australia.

Buying or selling property in NSW?

PEXA has made the mechanics of settlement easier, but there’s still plenty happening behind the scenes.

At MG Conveyancing, we coordinate the paperwork, banks, settlement figures and electronic completion so you don’t have to.

Our favourite kind of settlement? The boring kind.

Everything ready, everyone on time, keys released.

Just the way we like it.

 

You’ve found the property.

You love the kitchen.

You’ve already worked out where the couch is going.

You’re fairly sure the backyard would look fabulous with a pool.

Excellent.

Now comes the slightly less exciting part: due diligence.

When you’re buying property in NSW, having your contract reviewed by a conveyancer is an important part of your due diligence. But there’s more to buying a property than checking the contract.

Some things are our job. Others require enquiries, inspections or advice from different professionals. And some things are entirely up to you to investigate.

Knowing the difference before you sign can save you a lot of headaches afterwards.

What does your conveyancer actually review?

At MG Conveyancing, we review the Contract for Sale and the documents attached to it, including the title, relevant plans, planning certificate, registered dealings and other disclosure documents.

We explain the contract terms, identify relevant legal issues and, where appropriate, raise enquiries with the Vendor’s solicitor.

For example, if the title discloses an easement or restriction on use, we’ll explain what the contract documents tell us about it.

But here’s where your plans matter.

If you’re buying a property because you want to install a pool, and there’s a drainage easement running straight through your proposed pool location, that’s something worth discussing before exchange.

We can explain the legal documents, but we can’t guarantee that your future plans for the property are achievable.

What pre-purchase enquiries should buyers make?

That depends on the property.

While we review relevant information disclosed in the contract documents, that information isn’t necessarily the whole picture.

Depending on what you’re buying, you should consider making your own enquiries about:

• Building and pest issues: The physical condition of the property, including structural defects and termites.
• Council approvals: Whether additions, extensions or other structures have the necessary approvals.
• Flooding, bushfire and other risks: While some matters may be disclosed in the planning certificate, further enquiries may be necessary.
• Boundaries: Whether fences, buildings and other structures are correctly positioned.
• Surrounding development: Proposed developments nearby that could affect the property.
• Future plans: Whether you can renovate, extend, subdivide or build that pool you’ve already mentally installed.
• Insurance: The availability and cost of appropriate cover.
• Strata properties: The building condition, finances, maintenance history and management of the owners corporation.

Not every enquiry will be necessary for every property, and some matters may already be addressed in the contract documents we review.

We also raise enquiries with the Vendor’s solicitor where appropriate. However, contracts generally contain provisions requiring purchasers to make and rely on their own enquiries about the property.

Reviewing the contract and raising enquiries with the Vendor’s solicitor is not the same as independently investigating or verifying every aspect of the property.

This is why building and pest inspections, Council enquiries, surveys and other specialist advice may be important before you commit to a purchase.

What about buying a strata property?

Strata properties involve another layer of due diligence.

As part of our contract review, we consider the relevant legal documents attached to the contract, including the registered strata plan and by-laws where applicable.

However, MG Conveyancing does not review or provide advice on strata inspection reports.

Strata reports contain information about the owners corporation’s finances, building condition, defects, maintenance, disputes and potential future expenditure. Many of these matters involve building, financial or strata-management considerations outside the scope of conveyancing advice.

Asking your conveyancer to assess the financial health and building condition of a strata scheme is a little like asking your cardiologist to look at your dodgy knee. They may be very good at what they do, but you’ve wandered into the wrong consulting room.

If you’d like assistance understanding your strata report, we can refer you to our strata expert, who offers detailed reviews of existing reports together with a verbal discussion to guide you through the findings.

We recommend obtaining appropriate strata advice before becoming unconditionally bound to purchase.

After all, you’re not just buying an apartment. You’re buying into an owners corporation too.

What about pre-purchase searches in NSW?

You’ll often see references to pre-purchase searches or property searches in NSW, but there isn’t one standard set of investigations suitable for every property.

The Contract for Sale contains prescribed disclosure documents that we review. Additional searches, inspections or specialist advice may be necessary depending on the property and what you intend to do with it.

A purchaser planning to live in an existing house may have very different concerns from someone intending to renovate, subdivide or redevelop.

Tell us what you’re planning, and make sure you undertake the appropriate enquiries before exchange.

The best time to ask questions? Before exchange.

If something matters to your decision to buy a property, don’t assume someone else has checked it.

Ask questions, obtain the appropriate inspections and make any necessary enquiries before you’re legally committed.

At MG Conveyancing, we help purchasers across Sydney and the Central Coast understand their contracts and navigate the legal conveyancing process.

We’ll explain what we find in the documents we’re reviewing, raise appropriate enquiries and let you know when something falls outside our scope.

Because good advice isn’t pretending your conveyancer can investigate everything. It’s making sure you know what we’ve checked, and what you still need to check for yourself.

Still deciding what to offer? Here’s what to check before making an offer on a property.

You’ve just agreed to buy a property.

You’ve paid for a building and pest inspection. You’re budgeting for stamp duty. The bank has given you approximately 73 forms to sign.

And now you’re comparing conveyancing quotes.

You have three sitting in front of you. One is noticeably cheaper than the others. Naturally, your eyes go straight to that one.

We get it! Nobody wakes up on a Saturday morning excited to spend money on conveyancing.

But when you’re buying or selling one of the most valuable assets you’ll ever own, choosing your conveyancer based solely on who can do it cheapest may not be the best place to save a few hundred dollars.

Aren’t All Conveyancers Basically Doing the Same Thing?

Technically, we’re all trying to achieve the same broad outcome.

If you’re buying, you want to become the registered owner of the property. If you’re selling, you want to transfer it to the purchaser and receive your money.

Simple…

Except there’s A LOT that happens between “Congratulations, your offer has been accepted!” and “Congratulations, your property has settled!”

• Contracts need to be reviewed.
• Titles need to be checked.
• Special conditions need to be understood.
• Amendments may need to be negotiated.
• Deadlines need to be monitored.
• Banks need to be chased.
• Settlement figures need to be checked.
• Problems need to be identified.

And occasionally, somebody needs to explain why the thing everyone agreed would definitely not be a problem has, in fact, become a problem.

That’s conveyancing.

Why Are Conveyancing Quotes So Different?

Because not every conveyancing service is the same.

Some firms operate on a high volume model. They may handle a very large number of transactions, use highly automated systems and divide different parts of the matter between different team members. That model may suit some clients perfectly well.

Other firms offer a more hands-on service, with greater access to the person managing your matter and more individual attention throughout the transaction.

Neither business model is automatically right or wrong. But they aren’t necessarily the same product simply because both quotes have “conveyancing” written at the top.

It’s a little like comparing airline tickets. Both planes may get you to Melbourne. But it’s worth checking whether one of them has quietly charged extra for your luggage, seat and the privilege of breathing onboard.

Ask What’s Actually Included

A low headline price can look very attractive. Before comparing conveyancing fees in NSW, make sure you’re comparing like with like.

Ask:

• Is contract review included?
• Are negotiations before exchange included?
• Are there additional fees for acting on your mortgage?
• Are there extra charges associated with electronic settlement?
• Are searches and disbursements additional?
• Is there an extra fee if settlement is delayed?
• Are there additional charges for extensions or changes to the contract?
• Who will actually manage your file?
• Can you speak directly to that person when you need them?

There may be perfectly reasonable reasons for additional fees. The important thing is knowing about them before you choose your conveyancer, rather than discovering them one invoice at a time.

That bargain headline fee can look quite different by the time everyone has finished adding things to it.

The Cheapest Quote Isn’t Necessarily Bad

Let’s be clear about this. A lower-priced conveyancer isn’t automatically a bad conveyancer. And an expensive conveyancer isn’t automatically brilliant.

Price alone tells you very little about whether someone is good at their job. What matters is the service, experience, communication and scope of work behind the quote.

If you’ve found an experienced conveyancer with excellent reviews, a clear scope of work, responsive communication and a lower fee? Fantastic. Take the win.

We’re not going to suggest you pay more money purely for the character-building experience. The problem is choosing only on price without looking at anything else.

You’re Not Really Paying Someone to Fill in Forms

This is probably one of the biggest misconceptions about conveyancing for buyers and sellers.

Yes, there are forms… SO many forms. But the value of an experienced conveyancer isn’t their ability to type your name into them. It’s knowing when something isn’t right.

• It’s reading a special condition and recognising that it shifts a risk onto you.
• It’s noticing something on title that needs to be explained.
• It’s knowing when an amendment is worth requesting and when it probably isn’t.
• It’s recognising that a settlement timeframe may be unrealistic before you commit to it.
• It’s knowing what needs urgent attention and what absolutely does not warrant ruining your weekend.

You aren’t just paying for paperwork. You’re paying for judgment, experience and skill.

“But My Purchase Is Really Straightforward”

It might be. We hope it is. Most conveyancing transactions aren’t legal thrillers.

But the problem is that you don’t always know which matter will become complicated when you first ask for the quote.

A perfectly ordinary purchase can suddenly involve a finance delay, an unusual special condition, a title issue, a missing inclusion, a problem at final inspection or a vendor who can’t settle when they said they could.

Likewise, a perfectly straightforward sale can become much less straightforward when the purchaser requests 14 contract amendments at 4.53pm on Friday.

Straightforward is our favourite kind of conveyancing. We just don’t assume it will stay that way.

Communication Matters More Than You Think

Before you buy or sell property, conveyancing probably looks like a technical legal service. Once you’re actually in the transaction, you quickly discover that it’s also a communication service.

You will have questions:

• Has the contract exchanged?
• Has the deposit been paid?
• Is my bank ready?
• What does this condition mean?
• Is settlement still happening tomorrow?
• CAN I PICK UP THE KEYS YET?

If you’re buying your first home, you’ll probably have twice as many. That’s completely normal.

When choosing a conveyancer, ask how communication works. Will you have a person responsible for your matter? Can you contact them? Will they explain things in language you understand? Will someone tell you what’s happening if there’s a problem?

A cheap conveyancing quote feels considerably less exciting when you’ve called three times and still don’t know whether you’re settling tomorrow.

Experience Matters When Something Goes Wrong

Anyone can look calm when everything is going according to plan. The real value of experience tends to become apparent when it isn’t.

• The bank isn’t ready.
• The final inspection has revealed a problem.
• Settlement can’t proceed.
• An inclusion has disappeared.
• There’s an unexpected title issue.
• The other side has sent an email beginning with “URGENT”.

This is when you want someone who knows what the contract says, understands your options and can tell you what actually needs to happen next. Preferably without sounding panicked themselves.

How Much Does a Conveyancer Cost in NSW?

There isn’t one standard conveyancing fee in NSW.

Fees vary between firms and can also depend on the type and value of the property, the complexity of the transaction and what’s included in the service. There will also usually be disbursements and third party costs associated with the transaction.

Rather than asking only “Who is cheapest?”, ask “What am I getting for the fee?”

Read the Reviews

This is one of the easiest ways to find out what dealing with a conveyancing firm is actually like.

Don’t just look at the star rating. Read what clients say. Do they mention communication? Responsiveness? Clear advice? Problems being resolved? Feeling informed throughout the process?

A firm’s website will naturally tell you they’re wonderful. We are yet to find one with a homepage saying: “We’re reasonably good, provided nothing unusual happens.”

Reviews give you an idea of what actual clients experienced.

Local Knowledge Helps, but Experience Matters More

Whether you’re looking for a Sydney conveyancer, a Central Coast conveyancer or someone elsewhere in NSW, you don’t necessarily need a conveyancer physically around the corner. Conveyancing is now largely electronic.

What matters more is whether your conveyancer regularly handles the type of property you’re buying or selling and understands the issues that can arise.

At MG Conveyancing, we act for buyers and sellers across Sydney and the Central Coast, from the Inner West, Eastern Suburbs, North Shore and Northern Beaches through to Gosford and the wider Central Coast.

Different properties can raise different issues. The important thing is having someone who knows what to look for.

So… Should You Choose the Cheapest Conveyancer?

Maybe.

If you’ve compared the service, checked what’s included, looked at the reviews, understand who will manage your matter, and you’re comfortable with the firm… absolutely!

But don’t choose a conveyancer just because they’re the cheapest quote in your inbox.

When you’re dealing with one of the largest financial transactions you’re likely to make, saving a relatively small amount on the person responsible for the legal transfer isn’t necessarily the bargain it first appears to be.

We’re biased, obviously. We are conveyancers.

But we also spend a fair amount of time dealing with property transactions, and there are plenty of places we’d happily try to save some money. The person responsible for getting the property into your name probably isn’t one of them.

What Do You Get With MG Conveyancing?

We’re a boutique conveyancing firm specialising in NSW property transactions.

We don’t try to be the cheapest conveyancer in NSW. We try to provide a service that makes our clients feel that their matter is actually being looked after.

That means reviewing the contract and title, explaining the things that matter in plain English, negotiating amendments where appropriate, managing the conveyancing process, keeping an eye on deadlines, coordinating settlement and being available when something needs to be discussed.

We’ve been doing conveyancing for more than 25 years. We’ve seen the straightforward ones. We’ve seen the complicated ones. And we’ve seen the ones that started with “This should be really simple…” (Those are always fun.)

Buying or selling property in NSW? Get in touch with us and find out what’s included in the MG Conveyancing service.

Then compare us. We don’t mind. Just make sure you’re comparing more than the number at the bottom of the quote.

What Are the Most Common Reasons a Property Settlement Gets Delayed in NSW?

Settlement day is in the diary.

The removalist is booked. The fridge has been emptied. You’ve arranged to collect the keys at 2pm and you’ve already mentally chosen where the couch is going.

Then your conveyancer calls.

“We may have a problem with settlement.”

Not exactly the phone call you were hoping for.

The good news is that most property settlements in NSW happen when they’re supposed to.

But delays do happen.

Sometimes they’re resolved within an hour. Sometimes settlement moves to another day. And sometimes the issue is more complicated.

Here are some of the most common reasons a property settlement gets delayed in NSW, and what actually happens when it does.

1. The buyer’s bank isn’t ready

This is a common cause of settlement delays.

Having your loan formally approved doesn’t necessarily mean your lender is completely ready for settlement.

There are still things that need to happen behind the scenes. Loan documents need to be signed and returned, the lender needs to complete its settlement requirements and the funds need to be available for the electronic settlement.

Sometimes everything looks perfectly fine until settlement gets very close.

Then the bank announces it needs something else.

Banks do enjoy keeping things interesting.

If you’re buying with finance, make sure you respond quickly to requests from your lender or broker and return any loan documents as soon as possible. Our conveyancing for buyers page covers what we need from you and when.

And if your conveyancer starts asking whether your bank is ready for settlement, we’re not being unnecessarily anxious … it’s not our first rodeo!

2. The vendor’s bank isn’t ready

Buyers aren’t the only ones with banks.

If the vendor has a mortgage over the property, their lender needs to be ready to discharge that mortgage at settlement.

If the discharge hasn’t been properly arranged or the vendor’s lender isn’t ready, settlement may not be able to proceed.

This can be particularly frustrating for a purchaser because there is very little you can personally do about it.

Your conveyancer will liaise with the vendor’s representative and monitor the position.

Sometimes the answer really is:

We’re waiting for the bank.

Nobody enjoys that answer, including us.

3. Something goes wrong at the final inspection

The final inspection usually takes place shortly before settlement and gives the purchaser an opportunity to check the property before completion.

Most final inspections are uneventful.

You walk through, confirm everything is where it should be and start measuring the fridge space.

Occasionally, however, there’s a problem.

An inclusion listed in the contract might have disappeared.

There may be damage caused while the vendor was moving out.

The property may not have been left vacant when vacant possession is required.

Or there may be some other issue with the condition of the property that needs to be addressed.

What happens next depends on the issue and the terms of the contract.

Sometimes it can be resolved quickly between the parties.

Sometimes an agreement can be reached that allows settlement to proceed.

And sometimes the issue is significant enough that settlement can’t proceed as planned.

Call your conveyancer immediately if something isn’t right at the final inspection.

Preferably before you start negotiating directly with the agent, the vendor, their neighbour and the removalist.

4. A contractual requirement hasn’t been dealt with

Sometimes the contract requires something specific to happen before settlement.

There may be a special condition requiring documents to be provided, an item to be removed, work to be completed or another obligation to be satisfied before completion.

If that hasn’t happened, it can create a problem.

This is why special conditions matter.

They’re not decorative pages added to make the contract heavier.

They create contractual obligations, and those obligations need to be monitored throughout the transaction.

5. There is an issue affecting the title or settlement

Occasionally an issue arises that needs to be resolved before the property can be transferred.

For example, there may be a caveat or another dealing affecting the title that needs to be removed or dealt with.

The precise consequences depend on the nature of the issue and the contract.

Some problems can be resolved without affecting settlement.

Others take longer.

This is part of the reason conveyancing doesn’t stop once you’ve signed the contract. There is still work happening between exchange and settlement to make sure the transaction is ready to complete.

6. You’re selling and buying on the same day

This is where things can become particularly exciting.

If you’re selling one property and using the sale proceeds to purchase another, the two settlements may be linked in PEXA.

Rather than the money from your sale landing in your bank account before you can use it for your purchase, the required funds can flow directly from your sale settlement into your purchase settlement.

In other words, both transactions are connected and settle simultaneously.

Think of it as a property version of a Rubik’s Cube.

Your sale has to be ready.

Your purchase has to be ready.

Your purchaser has to be ready.

Your vendor has to be ready.

The banks have to be ready.

The figures have to balance.

The PEXA workspaces have to be linked correctly.

And somehow, everything has to line up at exactly the right moment.

When it does, it’s beautiful.

When one piece doesn’t line up, however, the whole thing can stop.

That’s why linked settlements need careful coordination, and why we become particularly interested in everyone’s readiness as settlement day approaches. If you’re planning a simultaneous sale and purchase, our guide to how long it takes to buy a house in NSW covers how the two timelines need to line up.

7. The PEXA workspace isn’t ready

Property settlements in NSW are generally completed electronically through PEXA.

For settlement to occur, all of the participants need to be ready.

That can include the purchaser’s conveyancer, the vendor’s conveyancer, the purchaser’s lender and the vendor’s lender.

The figures need to balance, documents need to be signed and everyone needs to be ready for the workspace to settle.

Usually, all of this happens quietly in the background.

You don’t need to sit at your computer refreshing PEXA while clutching your house keys.

That’s our job.

Well, not the clutching-the-keys part.

What actually happens if settlement is delayed?

This depends on why settlement hasn’t occurred and which party is responsible.

A delayed settlement doesn’t automatically mean the contract is cancelled.

Far from it.

If the purchaser isn’t ready to settle when required, the contract may entitle the vendor to charge interest and potentially recover certain costs.

Depending on the circumstances and the contract, a party may also ultimately be entitled to serve a Notice to Complete, requiring settlement within a specified period.

That is a much more serious stage of the process.

But most short settlement delays don’t immediately turn into dramatic contractual showdowns.

Usually, everyone wants the same thing:

Get the property settled.

The conveyancers work out what has gone wrong, what needs to happen to fix it and when settlement can realistically proceed.

Will I have to pay penalty interest?

If settlement is delayed because the purchaser isn’t ready to complete, interest may be payable under the contract.

The amount will depend on the contract, the purchase price and the length of the delay.

There can also be practical costs that have nothing to do with the contract.

Removalists may need to be rescheduled.

Furniture may need to go into storage.

You may need somewhere to stay.

If you’re selling and buying simultaneously, a delay can affect both transactions.

This is why we take settlement dates seriously.

It’s not simply a date somebody typed onto the front page of the contract six weeks ago.

People have arranged their lives around it.

Should I book my removalist for settlement day?

You can, but understand that settlement dates aren’t guaranteed until settlement actually occurs.

Most settlements proceed as planned, but unexpected issues can arise.

If you’re booking removalists, particularly for a purchase, it’s worth asking what happens if you need to change the time or date at short notice.

And please don’t arrange to meet the removalist at your new house before settlement is due to occur.

You don’t own it yet.

We admire the optimism, but the keys aren’t yours until settlement has actually gone through.

Can a delayed settlement be avoided?

Not every delay can be prevented.

Sometimes an issue genuinely arises that nobody could reasonably have predicted.

But good preparation certainly reduces the risk.

For buyers, that means keeping on top of your finance, responding promptly to your lender and conveyancer, completing your pre-purchase due diligence and letting us know immediately if anything changes. Our conveyancing for buyers page has more on what that looks like in practice.

For sellers, it means dealing promptly with mortgage discharge requirements, providing anything requested for settlement and making sure the property is ready to hand over as required by the contract — our conveyancing for sellers page covers the seller’s side of the process in more detail.

And for us?

It means keeping an eye on all of the moving parts and chasing things before they become settlement day emergencies.

Because an email saying “Just checking this is on track” is considerably nicer to send a week before settlement than “URGENT – SETTLEMENT TODAY” at 2.47pm.

What if settlement is already looking shaky?

If we can see that something may affect settlement, we’ll let you know.

Part of our job is keeping an eye on the transaction as settlement approaches, including the other side, your lender and, where we’re also acting on a linked sale, both PEXA workspaces.

If something isn’t lining up, we don’t wait until settlement time and hope for the best.

We start chasing.

Sometimes the issue is resolved quickly and settlement proceeds exactly as planned. Other times, we may need to discuss the problem with you, speak with the other side or work through what happens next.

There are, however, some things only you can tell us. If your broker contacts you about a finance issue, something comes up at the final inspection, or your circumstances change in a way that could affect settlement, let us know straight away.

The aim is simple: identify problems early, deal with what we can, and keep settlement day as boring as possible.

Keeping settlement day as boring as possible

At MG Conveyancing, our preferred settlement day is a boring one.

Everyone is ready.

The figures balance.

The banks do what they’re supposed to do.

Everyone signs off on time.

We call you.

You collect the keys.

Done.

Behind that very uneventful few minutes is a lot of work making sure the transaction is actually ready to settle.

We act for buyers and sellers across Sydney and the Central Coast, managing the conveyancing process from contract through to settlement and keeping you updated along the way.

And if something does go wrong?

We’ll explain what’s happening, what it means and what we’re doing about it.

Preferably without sending your blood pressure through the roof.

Buying or selling property in NSW? Get in touch with MG Conveyancing and we’ll help get you from contract to keys, with as little settlement day excitement as possible.

You’ve found the house. Your offer has been accepted. The agent is excited. You’re mentally arranging furniture.

And then someone says:

“Send the contract to your conveyancer.”

Right. But what exactly are we doing with it?

Contrary to popular belief, a conveyancer does considerably more than send emails, ask you to sign things and mysteriously reappear on settlement day to tell you that you can collect the keys.

Here’s what is actually happening behind the scenes.

First, we read the contract. All of it.

Before you sign a contract to buy property in NSW, your conveyancer should review it.

And yes, we really do read the whole thing.

A NSW contract for sale can easily run to 100 pages or more. Some of those pages are fairly standard. Others are very much not.

We check things such as:

• the purchase price and deposit;
• the proposed settlement period;
• inclusions and exclusions;
• the cooling-off period;
• special conditions added by the vendor;
• the title;
• easements, covenants and restrictions;
• documents attached to the contract; and
• anything else that could materially affect your purchase.

Then we explain the important parts to you in plain English.

Because telling a client that something is “subject to the provisions of clause 14.7 as amended by special condition 36” isn’t particularly helpful unless we also tell you what that actually means.

We find the things you didn’t know you needed to ask about

This is probably one of the most important parts of conveyancing for property buyers.

Most buyers know to ask whether the dishwasher is included.

Fewer buyers know to ask whether there is a drainage easement running through the exact spot where they plan to put a pool.

That’s where we come in.

We review the title for things like easements, covenants and restrictions that may affect the property. If any of them are overlooked, the consequences tend to show up later, when your options are considerably narrower.

Importantly, we need to know what you intend to do with the property.

If you’re planning to live in the house exactly as it is, something on title may have very little practical impact.

If your first sentence to us is, “We’re going to knock down the back, put in a pool, build a granny flat and maybe subdivide later,” we are going to look at the contract through a slightly different lens.

Please tell us these things.

We are conveyancers, not psychics.

We negotiate the contract before you sign

Finding an issue is only half the job.

If there is something in the contract we don’t like, we can request that it be amended before exchange.

That might mean asking for a special condition to be deleted, changing the settlement period, negotiating the deposit, clarifying an inclusion or requesting another amendment relevant to your purchase.

Does the vendor have to agree?

No.

But it’s much better to have that conversation while you still have a choice about whether to sign the contract.

Your negotiating power tends to decrease rather dramatically once you’ve already agreed to the thing you’re trying to negotiate.

Then contracts exchange

This is the point where things become real.

Once contracts have exchanged, you are generally legally bound to the purchase, subject to any applicable cooling-off rights and the terms of the contract.

Your conveyancer makes sure you understand when that happens and what deadlines start running from exchange.

This is also where we become part conveyancer, part project manager and part professional nag.

There are dates to monitor, searches to order, a lender to coordinate with, documents to prepare and approximately 147 emails flying between everyone involved in the transaction.

That last figure isn’t scientifically verified, but some days it feels conservative.

We deal with searches and enquiries

After exchange, we undertake the searches and enquiries appropriate to the conveyancing transaction.

These can relate to things such as council and water information, land tax, rates and other matters relevant to settlement and your legal ownership of the property.

Not every property requires exactly the same enquiries.

A freestanding house, vacant land and strata apartment are different transactions and can raise different issues.

The aim isn’t to order paperwork for the sake of creating an impressive looking file.

It’s to obtain the information we need to properly complete your purchase.

We keep an eye on your finance, but we aren’t your broker

If you’re borrowing money, your lender becomes a very important participant in settlement.

We liaise with your lender and make sure the legal side of the transaction is ready to go.

Your broker or bank deals with the finance approval itself.

We deal with getting that finance into the settlement.

And if your bank is not ready when settlement is approaching?

Let’s just say we become very interested in their progress.

We calculate what you actually need to pay at settlement

The purchase price isn’t the only number involved on settlement day.

There can be adjustments for council rates, water charges and, where applicable, strata levies and other amounts under the contract.

The basic idea is that the vendor and purchaser each contribute the appropriate amount for the periods they own the property.

We review those figures and calculate the amount required to complete your purchase.

So when we send you a settlement statement containing a collection of numbers that don’t immediately resemble the price you agreed to pay, there is a reason.

We promise we haven’t just made them up.

We help if something goes sideways

Most property purchases settle without major drama.

Some decide they would like to be memorable.

• Finance can be delayed.
• A final inspection can reveal a problem.
• An agreed inclusion can mysteriously disappear.
• The vendor might not be ready.
• Your bank might not be ready.
• Settlement figures might be wrong.
• Someone in the chain may suddenly need an extension.

When something changes, your conveyancer deals with the legal and practical consequences, communicates with the other side and works out what needs to happen next. Most of these have a preventable cause and a step that heads it off, which is why we chase them early rather than late.

This is often the part of conveyancing that buyers don’t see.

And ideally, you don’t.

What happens at settlement?

Most NSW property settlements now happen electronically.

There isn’t a room full of solicitors dramatically exchanging cheques and title deeds anymore… Much less cinematic.

Your conveyancer coordinates the electronic settlement with your lender and the vendor’s representative, confirms the funds and documents are ready and completes the legal transfer of the property. There is a fair bit going on in the background of that day, almost none of which requires you to be present.

Once settlement goes through, we let the agent know.

Then you get the phone call you’ve actually been waiting for:

You can pick up the keys!!

And just like that, weeks of legal work and conveyancing are forgotten. It’s all about the keys now. Fair enough… honestly, we get it!!

Does conveyancing change depending on where you’re buying?

The legal conveyancing process is broadly the same across NSW, but the properties certainly aren’t.

Our Sydney conveyancing matters range from Inner West terraces and Eastern Suburbs apartments to homes on the North Shore and Northern Beaches and across Western Sydney.

On the Central Coast, we deal with everything from apartments around Gosford to established homes, acreage and coastal properties.

Different properties raise different questions.

An older terrace may have very different title and access considerations from a coastal home, an acreage property or an established suburban house.

Good conveyancing isn’t about assuming every property in a particular suburb has the same problem.

It’s about reviewing the actual property you’re buying.

So, what are you actually paying your conveyancer for?

Yes, there is paperwork.

Quite a lot of paperwork, actually.

But you’re really paying someone to take responsibility for the legal side of one of the biggest purchases you’re likely to make.

• We review the contract.
• We investigate the title.
• We negotiate amendments.
• We manage deadlines.
• We coordinate with your lender.
• We calculate settlement figures.
• We deal with the other side.
• We complete settlement.

And, importantly, we tell you what you actually need to worry about … and what you don’t.

If you’re weighing that up against handling it yourself, we’ve set out what DIY conveyancing in NSW actually involves separately.

At MG Conveyancing, we’ve been doing this for more than 25 years. We act for buyers across Sydney and the Central Coast and explain the process without unnecessarily complicated legal language.

Because buying a house is stressful enough without needing a law degree to understand your conveyancer’s emails.

Buying a property? Send us the contract before you sign and we’ll take it from there.