BUYING, SELLING OR RENTING? GET EXPERTS ANSWERS

Real Estate FAQs: Your One-Stop Shop for Property Answers

In addition to the purchase price, buyers need to budget for stamp duty, legal fees (including conveyancing), building and pest inspections, loan establishment fees (if applicable), and potentially mortgage insurance if the deposit is less than 20% of the purchase price.
Stamp duty is a state government tax imposed on property transactions, with the amount varying based on factors such as property price, buyer status (e.g., first home buyer), and property use (investment or primary residence). The NSW Government offers online calculators to help estimate stamp duty costs here.
While it's not legally required to engage a solicitor or conveyancer, their expertise can be invaluable in navigating the legal aspects of buying or selling property in NSW. They can help with tasks such as reviewing contracts, conducting title searches, and ensuring all legal requirements are met.
A cooling-off period in NSW allows buyers to withdraw from a purchase contract within 5 business days without penalty. However, exceptions exist, such as properties sold at auction or when mutually waive by a 66W.
A "66W" means the buyer gives up their right to back out of a property purchase during the cooling-off period by signing a special form. The property becomes unconditional.

The timeline can vary depending on factors such as the complexity of the transaction, market conditions, and any delays in obtaining finance or completing legal requirements. On average, it can take anywhere from 6 to 12 weeks to complete a property transaction in NSW.
Sellers typically need to cover the costs of real estate agent commissions, legal fees (for conveyancing), and marketing expenses. Additionally, if there's a mortgage on the property, there may be early repayment fees or discharge fees to consider.
While it's not legally required to engage a solicitor or conveyancer, their expertise can be invaluable in navigating the legal aspects of buying or selling property in NSW. They can help with tasks such as reviewing contracts, conducting title searches, and ensuring all legal requirements are met.

Landlords in NSW are responsible for maintaining the property in a reasonable state of repair, ensuring it meets health and safety standards, and providing quiet enjoyment of the premises to tenants. They must also adhere to relevant tenancy laws and regulations outline in the Residential Tenancies Act
Landlord insurance can provide coverage for risks such as damage to the property, loss of rental income due to tenant default, and legal expenses. It's recommended for landlords to protect their investment and we recommend it to all landlords.
In NSW, landlords can increase rent once every 12 months for periodic agreements, provided they give the tenant at least 60 days' notice in writing. Rent increases must also comply with any relevant laws and regulations.
Property management services can save landlords time and effort by handling tasks such as finding tenants, rent collection, property maintenance, and resolving tenant issues. They can also provide expertise in navigating legal requirements and maximising rental income.