Buying A Property In NSW

Preparing for your purchase, calculating stamp duty and your legal requirements.

If you are buying a property, it is common practice to engage a solicitor to assist you in this process.  In particular, solicitors have the skills and expertise to properly represent your interest especially should a legal dispute arise during or after the conveyance. 

When purchasing a property, there are some important things that occur as part of this process.  We can advise & assist you on the entire transaction including:              

        • Liaising with your banks should you be looking to obtain a mortgage.

        • Arranging your building and pest inspections and making other enquiries as to the suitability of the property.

        • Reviewing the contract and highlighting any pitfalls.

        •  Planning your rights to a cooling off period.
        • Advising you of stamp duty and whether you are entitled to a first home owners grant or other concessions. 

        What Is Stamp Duty?

        Stamp duty is a state tax imposed upon  certain documents and some undocumented acquisitions. These include title  transfers as a result of selling real estate, vehicles, business assets and  other property; gifts; insurance policies and home loans, and is paid by the  purchaser or borrower.

        How much stamp duty do I have to pay?

        Stamp duty varies from state to state. Stamp duty can add  significantly to the purchase price of a property so it's vital that you take  this into account when you're looking to buy your new home.

         

        How much stamp duty do I have to pay?

        Stamp duty varies from state to state. Stamp duty can add  significantly to the purchase price of a property so it's vital that you take  this into account when you're looking to buy your new home.

        The NSW Government charges stamp duty on the following transactions:

        • an agreement for the sale or transfer of dutiable property;
        • a declaration of trust over dutiable property,
        • a surrender of an interest in land in New South Wales;
        • a foreclosure of a mortgage over dutiable property;
        • a vesting of dutiable property;
        • the enlargement of a term in land into a fee simple under section 134 of the Conveyancing Act 1919;
        • a vesting of land in New South Wales by statute law, whether inside or outside Australia;
        • a lease in respect of which a premium is paid or agreed to be paid.

        How Do I Calculate the Stamp Duty Of My New Property?

        The NSW Government has created this handy Stamp Duty Calculator to help you plan all your purchasing costs. You may have Stamp Duty concessions available to you. Contact us as soon as possible to discuss your options.

        Check out our handy Stamp Duty Calculator    

        Check out our handy Stamp Duty Calculator  

         

        Home Owner Grant Concessions In NSW

        For detailed information on First Home Owner Grants & eligibility criteria contact the Office of State Revenue.

        The First Home Owner Grant (New Homes) grant of $15,000 for eligible applicants is extended for a further 2 years from 31 December 2013 to 31 December 2015. It will reduce to $10,000 from 1 January 2016.

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        For Property Conveyancing

        • Learn more- read our resources & articles
        • Call us on  1800 647 023
        • Make An Appointment - We aim to see you the very next day where possible.
        • Let one of our friendly team, work with you on any of your conveyancing matters.

        Learn more  with our useful resources,articles and our Frequently Asked Questions section.