South Australian Conveyancing Guide

 

 

Disclaimer - The information contained in this guide is of a general nature and intended only to provide a guide to assist you in understanding the process carried out for you by a conveyancing practitioner and should not be used as a substitute for professional advice from a conveyancing practitioner acting for you in your sale or purchase.

 


 

What is Conveyancing?

Conveyancing is the area of law concerned with the preparation of documents for the transferring of property. Both the buyer and the seller of a property will engage the services of a conveyancing professional, who will represent the buyer or seller and complete the legal requirements of the sale.

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What happens in a Conveyancing transaction?

While each sale or purchase is unique, all will involve these primary steps.

Buying a property
  • Checking the contract and Form 1 and advising you about its terms;
  • Obtaining and examining a search of the title;
  • Obtaining  searches from government departments and local authorities for anything affecting the property and any other authority that may have an interest in the property or levies rates or charges;
  • Preparing transfer documents;
  • Arranging for payment of stamp duty on the transfer;
  • Providing documents to your bank;
  • Calculation of adjustments of rates and charges and settlement statement;
  • Arranging and attending the settlement at the Lands Titles Office.

 

Selling a property
  • Taking instructions from you to preparing the contract and Form 1;
  • Checking the contract and advising you about its terms;
  • Arranging with your bank to provide a discharge of its mortgage;
  • Examining and arranging execution of transfer documents;
  • Arranging searches of statutory and government offices to adjust Council Rates, SA Water Rates, Emergency Services Levy, Land Tax;
  • Arrange special water meter reading;
  • Calculation of adjustments of rates and charges and settlement statement;
  • Arranging and attending the settlement;
  • Notifying the Council and SA Water of the change in ownership.

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Stamp Duty – rates and exemptions

The transfer of property purchased in South Australia will be subject to the payment of stamp duty.

You can calculate the stamp duty on the purchase price of a property here -

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First Home Owner Grant

You can read about the First Home Owners Grant here-

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