McMahon Turner Solicitors & Conveyancers - Property Conveyancing Services North Shore & Northern Beaches

Buying Property

McMahon Turner Solicitors & Conveyancers regularly assists clients with Buying Property.

Buying Property can be an overwhelming experience.

Buying Property is usually the most expensive purchase a person will make.

It is vital to obtain practical, accurate and clear legal advice.

The process for buying a property is:

Step 1 – Prior to Exchange of Contracts

You will:

  • Phone McMahon Turner Solicitors & Conveyancers to explain the “buying property process” to you
  • Obtain a loan pre-approval from your Bank or Broker
  • Find a suitable property within the range of your financial capacity
  • Instruct the selling agent to forward the Contract of Sale to McMahon Turner Solicitors & Conveyancers
  • Negotiate the best possible price for the property
  • Once the offer is accepted, arrange for the following reports if applicable:
    • Building Report;
    • Pest Report;
    • Strata Report.

We will:

  • Review the property online
  • Review the Contract of Sale
  • Request any necessary amendments to the Contract of Sale
  • Make preliminary enquiries
  • Advise you

Step 2 – Exchange of Contracts

You will:

  • Sign the Contract
  • Pay 10% deposit (or less if negotiated)

We will:

  • Ensure that the Contract is ready for exchange
  • Exchange the Contracts with Vendor’s Solicitors

Step 3 – Following Exchange of Contract

You will:

  • Contact your Bank or Broker
  • Arrange for your Mortgage documents to be sent to you
  • Sign your mortgage documents and return to your Bank or Broker
  • Take out building insurance (not required for strata title lot)
  • Start organising your move including removalists and connection of services
  • Arrange a final inspection of the property prior to settlement with the selling agent

We will:

  • Order and check all property searches
  • Liaise with your Bank or Broker
  • Ensure your Bank is ready for settlement
  • Book settlement with your Bank and the vendor’s solicitor
  • Prepare settlement figures
  • Advise you and your Bank of cheque details for settlement

Step 4 – Settlement

We will:

  • Attend settlement
  • Ensure that all Title Documents are in order
  • Pay the settlement funds to the Vendor’s Solicitors/Conveyancers
  • Advise you and the selling agent that the settlement has taken place

You will:

  • Collect the keys and any remotes from the selling agent

Step 5 – Following Settlement

We will:

  • Send a settlement letter to you
  • Retain your file for 7 years
  • Keep in contact with you