3.0 – Unconditional Contract

Following the satisfaction of any conditions, the contract is considered ‘unconditional’ which means that we, along with your lender and the vendor’s legal representative, work towards settlement. Settlement is the process of ensuring that all encumbrances are removed and that you can be registered on title as the property owner.

We recommend that you immediately, following the Contract of Sale going ‘unconditional’, arrange insurance on the Property. The vendor carries the risk of loss or damage to the Property, but your lender may require insurance effective from the date of sale – this is to safeguard their interest in the Property, as well as yours.

3.2 – Complete documentation we send you

We will provide you with instructions on how to complete your Verification of Identity (VOI) and Client Authorisation Form (CAF) to satisfy the Land Use Victoria requirement. You will require identification and details of any changes to your name. We prepare the duties form, transfer documentation and liaise with your lender to prepare for settlement.

We will lodge a caveat at the Land Titles Office noting your interest in the Property. We will be notified if the vendor attempts to deal with the title.

Process

Redman Lynch Stream Conveyancing delivers the power of partnering technology and process design with a team of lawyers and paralegals who are invested in each client’s success.

Leases that fall under the Retail Leases Act 2003 (Vic) are subject to strict deadlines requiring prospective tenants to have precise and upfront information about certain terms and costs under the lease. Non-compliance with these deadlines or not providing certain documentation can cause delays and expose the Landlord to non-payment of certain costs by the tenant. Redman Lynch Stream Leasing will work closely with the landlord or its managing agent in conjunction with the landlord to ensure all compliance requirements are met and provide advice of the landlord’s ongoing obligations throughout the term and post lease.

There are a few key tasks/ compliance at each stage of the retail leasing process

Redman Lynch Stream Conveyancing Leader

Lydia Eastwood

Lydia Eastwood is an experienced and commercially minded lawyer who has been recognised by the Law Institute of Victoria as an Accredited Specialist in Property Law.

Purchase

Process

Pricing

Redman Lynch Stream Conveyancing is our streamlined legal solution designed to leverage digital tools and process designs for the benefit of purchasers buying a residential property.

What does the residential conveyancing process involve for a purchaser?

The residential conveyancing process can be complex, subject to strict deadlines and requires engaging with various stakeholders – agents, banks, conveyancers, lawyers, Land Use Victoria, State Revenue Office, municipal authorities, water authorities and owners corporation managers.

At the end of the process, after numerous tasks that need to be completed on point and on time, there will be a transfer of ownership of an existing home or titled land from a vendor to you.

There are a few key tasks at each stage of the residential conveyancing process:

Click the "+" to explore each stage in more detail.

Pricing

Redman Lynch Stream Conveyancing simplifies the complex process of buying a residential property by delivering a simple and easy-to-use legal solution that saves time and costs while avoiding the inefficiencies of traditional legal solutions.

Our fixed fee for residential conveyancing, for purchasers, starts from $1,500 plus GST and usual disbursements for registering a caveat and obtaining certificates for adjustments.

If you need extra assistance or something unexpected needs to be dealt with, we will outline the pricing for these out-of-scope services so that there are no cost surprises to you.

When you first contact us, we issue you with a Costs Agreement that details our pricing. The initial fixed fee includes the tasks needed to complete, in the usual manner, Stages 1, 2, 3, 4 & 5 that are set out above.

Get started

Stage 1

Pre-Contract

Open homes are great for introducing you to the property and the neighborhood; however, they are not always the best setting for a thorough inspection, you can make arrangements with the real estate agent for further and private inspections (which you can film). During your inspection In addition to viewing the property for its suitability for your lifestyle, it’s important to confirm goods and fixtures are in working order. Common items to test: heating and cooling; kitchen appliances, including: dishwasher, oven; and roller door/s. As Is, Where Is If you are successful in purchasing the property you buy ‘as is’ at the date of sale, which means You buy the property in its current condition, there is no obligation for the vendor to make repairs or restorations on the property unless specifically included in the contract, by way of a Special Condition. If goods are not in working order, and you sign to buy the property you have bought the item broken, as it is on the day you sign the contract. You are not able to use your final inspection before settlement to raise problems with goods, fixtures, or the condition of the property if you have not inspected them prior to signing and verified them working.

Before you make an offer on the property, request the Contract of Sale and Vendor’s Statement (aka Section 32 Statement) from the real estate agent for us to review. The Contract of Sale (Contract) sets out the commercial terms and conditions of the sale. The Vendor’s Statement sets out the information a vendor must disclose about the property. This includes any restrictions on title, easements, which services are connected, the cost of outgoings each year for the property, details of zoning and details of any recent building permits. We provide a verbal summary of the Contract of Sale and Vendor’s Statement, which identifies any ‘red flag’. We will also suggest if you need to including a requirement for amendments to the Contract of Sale, whether introducing or removing a special condition, as a part of your offer. If you have any concerns about goods, fixtures or the condition of the property, get advice from our team during this review. We may be able to resolve your concerns through drafting a Special Condition. You may want to negotiate other Special Conditions such as: Making your offer subject to finance; or Making your offer subject to a building and pest inspection.

Offers are typically made to the Vendor via the real estate agent. We recommend you make any offer contingent on you actually signing a Contract of Sale and submit the offer in writing via email – the offer would include: The total price you will pay for the property; The deposit you will pay (ie: 5% or 10% of the purchase price); When you will pay the deposit (ie: on signing or on finance approval); Conditions you require included in the Contract of Sale (as discussed with us); and The date you nominate for settlement (ie: usually 30, 60 or 90 days from signing). The agent may want you to make an offer by completing and signing a Contract of Sale– you can do this so long as the Contract of Sale reflects your complete offer.

The real estate agent will arrange for you to sign the Contract of Sale and Vendor’s Statement. Before you sign, you should: Carefully review the Contract of Sale to make sure it reflects your offer. If not already completed, arrange an inspection and verify the goods and fixtures are in a satisfactory condition. If you have any questions – talk to us. We act for you and want you to be informed before you sign. Once you and the Vendor have signed the Contract of Sale, your offer is accepted and is binding.

Stage 2

Conditional Contract

If you decide you do not want to proceed with the purchase, you may have a right to ‘cool off’ but not always. This must be completed within 3 business days of the date you sign the Contract of Sale. If you cool off, you will be entitled to a refund of any deposit paid, less than $100 or 0.2% of the purchase price – the agent will retain the larger amount. If the Vendor has not signed the contract, you can instruct the agent that you are withdrawing your offer. You have no right to cool off if you purchased at an auction or under auction conditions (eg: within 3 clear business days before or after a publicly advertised auction).

Finance: Commence the process to satisfy any ‘subject to finance’ conditions by providing your lender any documentation required. You must do everything to genuinely apply for finance as you may have to supply evidence of your application if you seek to end the contract under the finance condition. Building Report: You must use a registered building practitioner to satisfy the ‘subject to building inspection’ condition. Remember ‘subject to building inspection’ general condition only entitles you to end the Contract if the report reveals a ‘major’ structural defect, it does not give you an automatic right to negotiate the Price, only a right to terminate. Pest Report: Many inspectors will offer a combined building and pest inspection, or you must use a qualified pest inspector to satisfy the ‘subject to pest report inspection’ condition. Remember ‘subject to pest report inspection’ general condition only entitles you to end the Contract if the report reveals a ‘major’ infestation that threaten health or the building’s structure, it does not give you an automatic right to negotiate the Price, only a right to terminate. There is no automatic right to negotiate following an unsatisfactory inspection, however, if all parties are agreeable then a change to the price or conditions can be completed through a variation of contract. Negotiating and preparing a variation of contract will incur additional legal costs. Therefore, we recommend you complete a building inspection is possible prior to signing the Contract so you can make an offer considering any possible ‘major’ or ‘minor’ defects.

Stage 3

Unconditional Contract

Stage 4

Pre-Settlement

You are entitled to inspect the property during the week prior to settlement. The agent will attend the inspection with you. The contract requires the vendor to provide the property in the same condition as it was when sold (excepting fair wear and tear). If, during the final inspection, you find something that is damaged or not working as it was on the day the property was sold, contact us – we will arrange a request for a repair. There is no requirement for the vendor to clean or steam carpets, consider if you want to arrange professional cleaning following settlement, before you move in.

Stage 5

Settlement

The outgoing mortgagee determines what time settlement will occur, generally settlements are scheduled at 2.00pm. Settlement is completed through an online platform, PEXA. We attend settlement, electronically, on your behalf. Please ensure you are contactable on the day of settlement, we will call you as soon as settlement has been completed. You will need to collect property keys from the agent following settlement.

Settlement occurs electronically, usually mid-afternoon. There is no requirement for you to attend.

Redman Lynch Stream Conveyancing paralegal

Sally Cole

Sally Cole is an experienced Conveyancer with over two decades of industry practice and holds an Advanced Diploma in Conveyancing. Her strong attention to detail, clear communication, and dedication to client service have earned her a reputation for delivering seamless property transactions with confidence and care.

Redman Lynch Stream Conveyancing paralegal

Sophie Kingston

Sophie Kingston is a dedicated conveyancing paralegal with experience assisting clients during their residential property transactions. She is committed to delivering a seamless conveyancing experience and providing reliable support throughout every stage of the process.

Stage 6

Post-Settlement

Congratulations! We will contact you confirming settlement.

Process

Redman Lynch Stream Conveyancing delivers the power of partnering technology and process design with a team of lawyers and paralegals who are invested in each client’s success.

Redman Lynch Stream Conveyancing Leader

Lydia Eastwood

Purchase

What does the residential conveyancing process involve for a purchaser?

Pricing

Stage 1

Pre-Contract

1.1 – Understand your borrowing power

2.2 – Attend inspections

1.3 – Have us review the contract and Vendor’s Statement

1.4 – Make an Offer

1.5 – Sign the Contract

Stage 2

Conditional Contract

2.0 – Cooling off

2.1 – Provide us with a signed contract

2.2 – Pay the deposit

2.3 – Satisfy conditions

Stage 3

Unconditional Contract

3.0 – Unconditional Contract

3.1 – Insurance

3.2 – Complete documentation we send you

3.3 – Caveat

Stage 4

Pre-Settlement

4.1 – Schedule the connection of utilities

4.2 – Attend your final inspection

4.3 – Review funds required for settlement

4.4 – Collecting keys

Stage 5

Settlement

5.0 – Settlement

Redman Lynch Stream Conveyancing paralegal

Sally Cole

Redman Lynch Stream Conveyancing paralegal

Sophie Kingston

Stage 6

Post-Settlement

6.1 – Authorities

6.2 – Our final letter

6.3 – Your title

6.4 – Consider updating or creating your Will