Useful Links & Information

Here are some links to further information you might find useful in the purchase or sale of a property, investment, subdivision, or development.

Moving Soon?
Our friends at Allied Newcastle have created a special offer for Tara Jane Conveyancing clients and a handy moving checklist of important things to remember when moving. You can also visit their website for more information – Allied Newcastle.

Owning a Pool or Spa

Swimming Pool Register
Pool owners must register their pool or spa on the NSW Swimming Pool Register. A certificate of registration will be issued to you. If you are buying an existing property that already has a pool, go to the NSW Swimming Pool Register website to check that your pool has been registered.

As an owner of a pool or spa it is important to know which laws apply to you. Find out more at the Fair Trading NSW website.

Stamp Duty / Transfer Duty
Stamp duty now known as Transfer Duty, is a charge which is applied by State Governments in Australia and is in relation to the transfer of land or property.

Find out more about Transfer Duty or use the Transfer Duty Calculator.

Capital Gains Withholding Clearance Certificate Form
To access the Capital Gains Withholding Clearance Certificate Online Form click here.

Land Tax
Land tax is an annual tax levied at the end of the calendar year on property you own that is above the land tax threshold. Your principal place of residence is exempt, and other exemptions and concessions may apply. To learn more about Land Tax go to the NSW Government website.

First Home Buyers Assistance Scheme
If you are a first home buyer, learn more about the First Home Buyers Assistance Scheme here.

Legal Terms

Here are some legal terms used in the property transfer process.

Cooling-off Period
A right afforded only to a purchaser to withdraw from the purchase for any reason within 5 working days of exchange.

The purchaser forfeits 0.25% of the purchase price to the owner when exercising this right.

Deposit Bond
A guarantee that while the deposit is not paid on exchange it will be paid on settlement. If the purchaser defaults under the Contract the underwriter guarantees payment of the deposit to the vendor.

Exchange
When the Contract becomes legally binding and the time frames under the Contract commence.

Holding Deposit
Paid to the agent when the parties have reached agreement on a price for the property. The holding deposit does not secure the property & is refundable prior to exchange if you do not proceed.

Pre-purchase inspections
Include: pest report, building report, strata inspection reports. Obtained to identify problems or defects in the property. The owner has no contractual obligation to disclose issues concerning the quality of the property. ” Caveat Emptor” or buyer beware!

Purchaser
The person/s contracting to buy the property.

Searches & Enquiries
Obtained to ensure that no person or authority has an interest in the property ie. Road widening proposals; creation of easements. They also disclose any outstanding charges on the land.

Settlement
When the balance of the purchase price is paid and legal title to the property is transferred.

Vendor
The owner of the property.