Buying Property in Maitland & The Hunter Valley

The Conveyancing Process For Buying Property: Financing & Offers

Why use a conveyancing solicitor when buying property?

Using a conveyancing solicitor when purchasing property is crucial for several reasons. First, a conveyancing solicitor has a comprehensive understanding of the legal aspects involved in property transactions, ensuring the process is handled correctly and efficiently. Second, they conduct necessary property searches to uncover any potential issues, such as liens or zoning problems, that could impact your use of the property or cause complications later on. Lastly, a conveyancing solicitor provides valuable advice and guidance throughout the buying process, helping you understand your rights and responsibilities, thus ensuring a smooth and informed property purchase.

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Step 1 Get financing from your chosen lender

If you’re planning to finance your home purchase with a mortgage, it’s important to get pre-approval from your chosen lender before making an offer. This will give you an idea of how much you can borrow and avoid any surprises later on.

Step 2 Make an offer to property agent

Congratulations on taking the next step in your journey towards purchasing your dream home! You’re on the brink of making an official offer to the agent, and once they accept, we at the Solicitors’ office will be informed immediately. Exciting, right? After your offer is accepted, the seller’s representative will prepare a contract with all the necessary information, including your personal details, the purchase price you’ve put forth, and any special conditions related to the sale.

But wait, there’s more! In addition to sending your information to the seller’s representative, you’ll also need to inform your lender of the property details and our contact info. That way, they can arrange for a property valuation before giving you the final go-ahead for your loan. Keeping them in the loop will help you move through this process with ease. We’re here to help!

Step 3 Pay the deposit & exchange contract

As your trusted team of real estate experts, we want to ensure our clients have a clear understanding of the process involved in buying property. Once we receive the contract from the seller’s representative, we will schedule a meeting with you to go over all the necessary details and points of the agreement. We understand that contracts can be complex and sometimes confusing, so we will walk you through it step-by-step while answering any questions you may have.

During our meeting, we’ll also discuss the payment of the deposit, which is usually 10% of the purchase price. In addition, we’ll investigate whether you are eligible for any government grants to help make the purchase process smoother. If you are interested in other financial options, such as Deposit Bonds, our team is available to discuss these options with you.

Once you have signed the contract and paid the deposit, the seller’s representative will exchange the contract. Our team will then work closely with your chosen lender to ensure the funds are available on settlement day. Rest assured that we will keep you informed throughout the process, including if any additional funds are required. We take pride in being thorough and transparent throughout the property purchasing process, and we look forward to helping you with this exciting milestone in your life.

Step 4 Property settlement

Congratulations on making it to your final step of buying property! Settlement is the exciting last stage of this process, and typically occurs 35-42 days after contracts are exchanged. We will make sure to keep you informed prior to settlement regarding the outstanding amount due, ensuring it is adjusted for items including council rates, water rates and usage. At this point, we will “Stamp” the contract and collect the Stamp Duty alongside your purchase price. If you’re interested in figuring out exactly how much your Stamp Duty will be, we recommend checking out our helpful Stamp Duty calculator tool. But don’t worry – any other adjustments required by your contract will be made as well.

We’d like to take a moment to give you an update on the convenient, secure and fast online conveyancing process we use via PEXA. It is now the preferred method for conducting settlements, as it provides many benefits, including immediate registration of the transfer upon settlement. This will give you peace of mind knowing your name is officially on the property title. Let us know if you have any questions or concerns about this process, as we are here to help you every step of the way!

David Allen, Principal & Maitland Solicitor at Hills Solicitors
Daniel Allen, Maitland Solicitor at Hills Solicitors
David Allen, Principal & Maitland Solicitor at Hills Solicitors

Passionate, experienced solicitors Meet the team at Hills

Hills Solicitors first opened its doors in September of 1894 under the name T A Hill. We continued strengthening our roots in the Maitland Community and later became T A Hill & Son, when our founders son joined the family practice. We then made the change to Hills Solicitors.

We have had a total of 3 offices since those early days in 1894, all of which are a 50m walk from our current office.

Need help buying a property?

Hills can take the hassle out of organising your purchase. Get in touch today to see what we can do for you.
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Getting started

At Hills Solicitors, we take pride in our over 125 years of experience and adaptability. Our clients can trust that we will continuously evolve and tailor our services to their changing needs. Our longevity is a testament to our ability to embrace new technologies and create cost-effective solutions for all legal issues. With our extensive knowledge and innovative mindset, we confidently assure our clients that we will always strive to exceed their expectations. Trust us to handle your legal matters with a forward-thinking approach and an unwavering commitment to your success.

Step one Get to know each other

When you come to Hills for advice you are never just another client to us, you become part of our large family and it is vital we get to know you.

Step two Understanding your rights

The first step is to help you understand your rights and how you can approach the issues at hand.

Step three Determining your goals

The most important step is understanding exactly what you would like to see at the end of your matter.

Got questions? We’re here to help

The team at Hills are here to help with all of your legal needs, serving Maitland and the Hunter for over 125 years. With a forward-thinking approach, providing practical solutions, for an affordable price — We’re here to help you when you need us.

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