New Home Buyers’ Guide to Conveyancing

Australia is experiencing a period of very low rental vacancy rates and rapidly rising rent levels, pushing many young people to enter the housing market. Most of the information currently being promoted to new home buyers is about rising interest rates and mortgage burdens. To break that trend, we thought it might be useful to shed some light on the actual conveyancing process once finance is obtained – which is a critical element to anyone purchasing a new home.

conveyancing TGB LawyersSigning the contract

When buying a new home, you should always seek legal advice before you sign a contract. This way, simple clauses that are not included can be taken care of at the onset and it will help avoid any costly mistakes. This will also be a good opportunity for you to find a conveyancer. Whether it be a law firm that specialises in conveyancing like TGB, or a specialist conveyancing firm, it is important that you find a conveyancer that you feel you can trust.

The Form 1

Once the contract is signed, you will receive a Form 1. This includes all information relating to the title, council issues, rates and taxes etc. This can be a lengthy document and can be confusing. Again, it is a good idea to have a lawyer review the Form 1.

The deposit

You will likely be required to pay a deposit. It is important to know that this deposit may be withheld if the contract is not fulfilled. Your lawyer will explain under what circumstances this might arise.


Your conveyancer will then prepare the relevant documents for settlement. This will include basic authorities to act on your behalf, verification of identity and a settlement statement.

The verification of identity process requires you to produce the highest combination of identification documents you have according to a specific schedule, it is not just your basic 100 points of ID.  Documents typically used are your driver’s licence and passport, or one of those plus your, Medicare card, birth certificate and, if your name has changed, your marriage certificate. Without these, it is challenging to confirm who you are and proceed with the purchase.

The settlement statement will break down the purchase price, deposit paid, conveyancer fees and transfer fees. It will also show the council rates, water rates and Emergency services Levy paid in advance you will be required to reimburse the vendor for. .

This is your best opportunity to ask your conveyancer questions about the amounts being transferred and what you will be expected to pay after settlement.

Make sure there is clear communication about when and where keys will be collected. Preferably do not assume that you will be able to move in immediately at the scheduled settlement date. Delays are less frequent than they used to be but do still occur, and you should allow for this.

Enjoy your new home…!

Once all the conveyancing work above has been done and you have achieved settlement, congratulations are in order!  It is time to enjoy your new home.

Get in touch!

At Tindall Gask Bentley Lawyers, our Conveyancing team is experienced in all aspects of conveyancing for new home buyers, and understands the importance of providing an efficient, professional conveyancing service to you.

Find out more about the conveyancing services provided by TGB, get in touch with us here or call us on (08) 8212 1077 to talk to a member of our team.

We look forward to helping you take these first exciting steps towards buying your very own home.