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Can Westwood Conveyancing review the contract and give me free legal advice?

Yes. We give free legal advice on a contract for sale for a property purchased by private treaty or at auction. We will only start charging for our services once contracts are exchanged and legally binding.

How quickly can Westwood Conveyancing advise me on a contract?

We can advise you on most contracts within 24 hours either in person by appointment or in writing.

What is a cooling off period and how does it affect me?

A cooling off period is the right the purchaser has to cancel the agreement within 5 working days. It offers some protection to purchasers that may have rushed into a contract and can be used to finalise financial arrangements, obtain property reports (for example, building, pest or strata reports) and to gain legal advice on the contract from our office. Cancelling the agreement (or rescinding, as it is also known) will cost the purchaser 0.25% of the purchase price. The cooling off period does not always apply (at auction, for example) and can be waived provided a Section 66W Certificate is signed by a conveyancer who has briefed the purchaser with regard to the implications involving waiving the cooling off period.

Do I have to pay stamp duty?

Yes, unless you are an eligible first home owner. To calculate the stamp duty payable please visit: or for first home owner benefits please visit:

What happens if the vendor cannot settle on the due date?

The purchaser can issue a "Notice to Complete" which means the vendor has 14 days (including weekends and public holidays) to settle the matter. If left unsettled, the purchaser has the right to terminate the contract and is entitled to receive their deposit back or the purchaser can apply to the court to have the vendor complete the agreement and hand over possession.

What happens at settlement time?

Settlement is the finalisation of the purchase process. There are usually four parties involved - the vendor and purchasers' conveyancers and the banks for the vendor and purchaser. On settlement, the purchaser's bank will exchange cheques as per the instructions of the purchaser's conveyancer and, in return, will receive the Certificate of Title and Discharge of Mortgage (if applicable) from the vendor's bank. If prior to settlement the property in question has been damaged, there is usually sufficient time to take care of discrepancies prior to settlement. After settlement, the keys are handed to the purchaser and the purchaser's bank registers the change of title and mortgage.

Who notifies the authorities that I have purchased a property?

When your transfer papers are lodged for registration after settlement, then the council and the water authority are automatically notified of the change in ownership. Other authorities, however, will need to be notified separately. To save time, you can have Direct Connect notify the other authorities of the change in ownership for free.

Disclaimer: The answers to these frequently asked questions are for information purposes only and must not be relied on as a substitute for legal advice.