Conveyancing FAQs

Buying or selling property in NSW raises a lot of questions. Below, we answer the ones we hear most from clients in Penrith and Western Sydney, from cooling-off periods and auctions to exchange, settlement and costs. Can’t find your answer? Call us on (02) 4704 3100.

What is Conveyancing?

Conveyancing is the legal process of transferring property ownership (or title) from one party to another.

In New South Wales, Conveyancers must be legally qualified, licensed by the Department of Fair Trading and have a minimum of two years experience in a legal practice and hold professional indemnity insurance. Conveyancers are also required to undertake professional education courses each year to keep their qualifications updated and ensure that they are familiar with the changes in legislation.

Unlike solicitors who specialise in many different areas of Law, Licensed Conveyancers specialise in Property Law only.

When should I give you instructions?

We strongly recommend that you advise our office of your matter at the very beginning so we can review the contract and give you any necessary advice before you sign any documents with a real estate agent.

What is the difference between exchange and settlement?

Exchange takes place at the beginning of a matter. The Purchaser and the Seller both sign a separate contract and the Purchaser pays the necessary deposit. Once both contracts are identical, the agent or Licensed Conveyancer/Solicitor dates them. This is when the Contract becomes legally binding on both parties.

Settlement takes place at the end of a matter. This is the legal process of handing the purchase monies to the seller in exchange for the title deed and transfer along with the hand-over of keys to the property.

What is a cooling off period?

When you sign a contract with a Real Estate Agent and pay a 0.25% deposit, you are entitled to a cooling-off period of five (5) business days. The purpose of the cooling-off period is to secure the property so that the Seller cannot sell the property to any other buyer and also so that you have time to arrange unconditional loan approval, Pest, Building, Strata Reports (where necessary), meet with a member of our staff to discuss the contract and make sure you are 100% happy before the contract becomes legally binding.

You can pull out of the Contract at any time before your cooling off period expires, however, you will lose your 0.25% deposit.

We always suggest asking for a ten (10) business day cooling off period before you sign with the agent.

Does a cooling off period apply to me if I am selling?

No, If you are selling your property and the contract has been exchanged under a cooling off period, only the Purchaser can pull out during the cooling off period.

What is a solicitor exchange?

A Solicitor exchange is different to having a cooling off period and signing with a Real Estate Agent. In this case, the property remains on the market until you pay your full 10% deposit and sign the contract, even though you may pay a “holding deposit”. This means that instead of the agent getting you to sign the contract, you will first obtain all of your enquiries, reports and loan approval and once you are 100% satisfied with the property you will sign the contract and you will be locked into the contract straight away without having a further cooling off period

I am looking at buying at an Auction. What do I do?

If you are looking at attending an Auction for a property, we strongly recommend that you forward a copy of the contract to our office for our perusal as early in advance as possible so that we can negotiate the terms prior to the auction.

We also recommend that you have unconditional loan approval in place and that you have obtained any necessary reports (and these reports are in your name) as once the property is sold under the hammer, the contract is legally binding.

You will also need to have your deposit monies available as a cheque on the day.

What is a final inspection?

A Final inspection should be carried out on your purchase property as close to settlement as possible, usually the morning of settlement or the day prior. The purpose of this inspection is to check that the property is in the same condition as it was when you first inspected it, that all inclusions still remain and that no damage has been caused to the property when the seller moved out.

We strongly recommend that prior to exchange you check that all appliances and inclusions are in working order as your Pest and Building inspectors do not check these and if you find an issue on your final inspection there is nothing we can do about this if it was not picked up prior to exchange.

Your final inspection does not cover cleanliness. This is a grey area of law and the seller only has to leave it in a reasonable condition.

Why is there a difference in Conveyancing fees for selling and buying?

When purchasing you receive legal advice on the contract and there are also more detailed and thorough searches that we obtain on your behalf, hence, both our professional fee and disbursements are higher.

Rebecca Prior

Rebeccah and her team were terrific with my recent purchase of an apartment. This was my first purchase with a strata and Rebeccah was amazing with explaining what this entails. She explained all the details in a way that I could understand and was professional and very kind. I felt supported throughout the entire process and I would happily recommend Rebeccah and her team. Every interaction with Rebeccah and her team was a pleasure.

Betina Wrightson

I have worked with Bec and her team at Conveyancing Simplified for both the sale of one property and the purchase of another, and i couldn't be happier with the service received. From start to finish, Bec and her team were professional, efficient, and incredibly supportive. They communicated clearly throughout the entire process, keeping me informed at every stage and ensuring i understood what was happening and what was required. I would have no hesitation in recommending this wonderful company and will definitely use their services again.

Emanuel Vassallo

Conveyancing Simplified assisted us with the sale of a property in September 2026. Rebeccah and her staff were efficient and the sales transaction was completed without any problems or delays. We would recommend their services to anyone who is thinking of selling their property. Carmen and Emanuel Vassallo. Badgerys Creek.

Emma Wood

Thank you so much to Rebeccah and Mackenzie for all their help throughout my settlement. As a first home buyer, I really appreciated their guidance and the time they took to explain everything. They were incredibly thorough, dealt with any issues promptly, and made the whole process so much less stressful. Everything ran smoothly from start to finish. I’d definitely recommend them to anyone looking for a great conveyancing team.

Rhiannon Slaughter

Bec and the team assisted us with the sale of our home during what was a very stressful time. Bec provided sound advice throughout the entire process and achieved a quick 4-week settlement, despite the sale having the potential to be quite complex. I can’t recommend Conveyancing Simplified highly enough.

Daniela

Thank you again Rebecca for all your help with our settlement! The process can be so stressful on its own and you helped us make the whole experience so much better!

Steven Prakash

It was a pleasure working with the team there and their great advise was invaluable in the purchase of our home.

Alison Millerchen

We just sold our property and bought a new one and couldn’t have done it without Rebeccah and Mackenzie at conveyancing simplified. The process was made straightforward and stress free, I will 100% be using them again, highly recommend!

David Taylor

Thoroughly recommend Rebecca from Conveyancing Simplified. Rebecca and her team make the entire process feel effortless. They hold your hand from start to finish, always keeping you updated when needed and explaining each step with clarity. Their communication is consistently positive, helpful, and reassuring, which makes a world of difference during what can otherwise be a stressful time.