First-Rate Property Lawyers in Sydney

Our real estate lawyers offer comprehensive legal services and guidance throughout all stages of a transaction – providing preliminary legal advice, performing all requisite due diligence examinations, conducting negotiations, and preparing purchase and sale agreements, and lease agreements.

Property transactions run on tight timelines. From the start, we ensure all parties are aware of the timeline so the transaction proceeds smoothly through to completion. Whether you are buying, selling, re-mortgaging a property or making an investment, we can help guide you through the process. Our dedicated property lawyer in Sydney regularly acts for landlords, tenants, freeholders, leaseholders and property agents.

Our team will talk to you in plain English or Chinese in a friendly and professional manner. Our rates are competitive and transparent, and we will keep you updated throughout the process. We aim to ensure that the process is as straightforward as possible.

Timeline for Buying a Property  

1. Apply for a bank loan

• Before you start looking for a property, you should talk to your bank to see if you can get a loan pre-approval or approval in principle (‘AIP’). This is the first step in order to borrow to buy a property.
• We recommend that if you are a first home buyer buying a new home that you apply for the current First Home Owner's Grant scheme through your bank, this will assist with the smooth and hassle-free transfer of property to you.
• However, if you are a cash buyer and do not require finance, then this step is not required.

2. Off the plan or existing property

• You may choose to buy,
• an off the plan property where you sign a contract to buy an apartment that is planned to be built in the future (‘off the plan property’), or
• an existing property that has already been built (‘existing property’).

3. Exchange of contracts

• You sign and exchange the Purchase and Sale Contracts (‘exchange of contracts’).
• Before you sign any contracts, you should contact your lawyer to go through the terms of the contract first to ensure you understand what you are considering signing.

4. Pay 10% Deposit

• You must ordinarily pay the 10% deposit on exchange of contracts.

5. Cooling-off period

• There is a cooling-off period where you have the right to cancel the contract after signing without giving any reason.
• The cooling-off period is,
• Five (5) Business Days for existing properties, and
• Ten (10) Business Days for off the plan properties
• If you cancel the contract within the cooling off period, you will have to pay 0.25% of the Purchase Price.

6. Transfer Duty

• You must pay transfer or stamp duty,
• for an off the plan property – up to 15 months after the exchange of Contracts, or 
• for an existing property – the earlier of, settlement, or 3 months from the exchange of Contracts.

7. Grants, Exemptions & Concessions

• You may be eligible for a grant, transfer duty exemption or concession under one of the current government’s New Homes or First Home schemes.
• If you are a foreigner, an additional transfer duty will apply.
• Ask one of our property lawyers in Sydney if you are eligible for a grant, or transfer duty exemption or concession today.

8. Foreign Investment Review Board

• If you are purchasing a residential property and you are not an Australian citizen, you may need to pay a surcharge and seek to apply for approval with the Foreign Investment Review Board (‘FIRB’).
• Application fees to the FIRB are required. The amount will vary depending on the value of your property.
• Ask our friendly property legal team if you need to pay the surcharge and apply for approval with the FIRB.

9. Settlement

• On the property’s Settlement Date, you must pay the unpaid amount of the purchase price plus any Council Rates, Water Rates, and Land Tax.

10. Handover of Keys

• After settlement, you will be handed the keys and physical possession of the property.
• Once the certificate of title is registered in your name, you will legally own the property.

11. Defects Liability Period for off the plan properties

• The Defects Liability Period is generally 3 months after building works are practically complete.
• You may report any defects that you find in your purchased property for the developer to repair during the Defects Liability Period.
• The Defects Liability Period only applies for off the plan properties, not for existing properties.
• There is a statutory 6-year major defects warranty on all properties.

We believe that the process of owning a home should be simple. We work to uncomplicated the terms of the purchase contract which may be unfamiliar to you to ensure that the legal transfer of property to you is seamless, straightforward and easy.

Our lease lawyers see the big picture.

Our pragmatic, commercial approach delivers value in line with your long-term goals.

We review leases every day and know what to look out for. A well-drafted lease will protect your interests and outline your responsibilities. Before signing a commercial lease, you should seek legal advice to review its contents to ensure you understand your duties as a landlord or tenant.

David Kam & Co Solicitors property solicitors in Sydney can review, negotiate and, if needed, redraft your commercial lease.

The types of properties we regularly deal with include shops, offices, and restaurants.

As a property owner, we ensure you protect your assets and rental income whilst meeting your duties under the law.

We know you want your property to achieve its best return. Maintaining good relationships with good tenants helps achieve this goal in the long term.

In commercial agreements, it is important to consider all parties and how you can protect your business from liability. We are experienced real estate lawyers and can help you identify which party is responsible for each aspect of the agreement.