The buying process in New South Wales

Two things shape the order of a purchase in New South Wales. The legal work can be done by a solicitor or a licensed conveyancer, and the NSW Government treats the two as equally qualified. The contract is exchanged early, with the buyer's checks running inside a five-business-day cooling-off window; at auction there is none. Settlement is electronic, as NSW has required since 11 October 2021.

The steps in order

1. Arrange finance first. A pre-approval sets the ceiling before any inspection; the borrowing capacity calculator gives a first estimate.
2. Choose a solicitor or licensed conveyancer, checking a conveyancer on Verify NSW first.
3. Check the selling agent's licence on Verify NSW, and register with the agent if the sale is by auction.
4. Ask for the contract. Every agent offering a property for sale in NSW must hold the proposed contract with the prescribed documents attached.
5. Book the building and pest inspection and, for a strata lot, a strata report. At private treaty these can run inside the cooling-off window; at auction they come before the day.
6. Settle the price against the evidence: the recorded comparable sales, the fair-value range they support, and a walk-away number set before any offer or bid.
7. Exchange. At private treaty the buyer commonly pays 0.25% on exchange and the rest of the deposit before the cooling-off period ends at 5pm on the fifth business day. At auction the contract is signed on the day with no cooling-off.
8. Lodge the first-home applications. The duty scheme and the grant each have their own form; the grant must be lodged within 12 months of settlement or completion.
9. Settle. Settlement is generally around six weeks after exchange, with the transfer lodged electronically through PEXA or Sympli.
10. Meet the move-in obligations. For both the duty scheme and the grant, an eligible buyer moves in within 12 months and stays for 12 continuous months.

Who does the legal work

Conveyancers are regulated by the Conveyancers Licensing Act 2003 and must be licensed with NSW Fair Trading, which keeps the register. Anyone who is not a legal practitioner, an incorporated legal practice or a solicitor corporation needs a conveyancer licence to do conveyancing work. With limited exceptions the Act does not regulate solicitors and barristers. Both must hold professional indemnity insurance, which protects the buyer if a mistake causes a loss. Whether the Law Society of NSW issues solicitors' practising certificates was not confirmed from this environment.

Give them the contract as soon as the agent provides it, the finance position, the names for the title, and the first-home details before exchange.

Checking the agent

The public register is Verify NSW. It shows whether a property agent or conveyancer is licensed in NSW, with licence status, conditions, compliance history and disciplinary history. All real estate agents, stock and station agents and strata managing agents must hold a licence, and assistant agents must hold a certificate of registration. From 29 June 2026, acting as an agent without a licence carries a maximum penalty of $55,000 for an individual and $110,000 for a corporation.

If something goes wrong

NSW Fair Trading provides a free complaint service for disputes involving a property industry professional. The number is 13 32 20, Monday to Friday, 8.30am to 5pm Sydney time, or +61 2 8894 1555 from overseas, and there is an online form. Fair Trading contacts each party to seek a mutual resolution and aims to resolve most complaints within 30 days. Complaints about a conveyancer also go to Fair Trading on 13 32 20.

Complaints about a solicitor or barrister go to the Office of the Legal Services Commissioner on 02 9377 1800 or 1800 242 958. Where misconduct is involved, the Commissioner may refer the complaint to the Law Society, the Bar Association or the NSW Civil and Administrative Tribunal.

How long it takes

Settlement generally takes place around six weeks after exchange. The buyer's conveyancer or solicitor can check and negotiate the period with the seller. The standard contract's default period is not published on an official domain and is not stated here. Three things commonly stretch it: finance that is not unconditional at exchange, a strata or building report that arrives late, and a vendor whose own purchase settles the same day.

Since 11 October 2021 all land transactions lodged with NSW Land Registry Services are done electronically through PEXA or Sympli, and paper certificates of title have been cancelled. A Property Decision Report is built for step six: the range from recorded sales and where the asking price sits against it, for one property.