Conveyancing
The legal process of transferring property ownership from one person to another.
Deposit
An upfront payment (usually 5 or 10%) made by the buyer upon exchange of contracts.
Settlement
The final stage of the transaction where ownership is legally transferred.
Title
The legal record of property ownership.
Stamp Duty (Transfer Duty)
A government tax paid by the buyer when purchasing property in NSW.
Cooling-Off Period
A short period after exchange where the buyer can withdraw from the contract (with a penalty).
This article provides general information and does not constitute legal or financial advice. Government schemes, eligibility requirements and legal obligations may change. Advice should be obtained based on your individual circumstances.