Once you’re ready to proceed, you’ll make an offer. If accepted, you’ll pay a deposit, signalling your commitment to the transaction. Remember, the property remains on the market until both parties sign the contract, so time can be of the essence. During this phase, a conveyancer is invaluable in ensuring that the terms and conditions of the contract reflect your understanding and protect your rights.

After signing the contract, buyers usually have a ‘cooling-off’ period, allowing them to reassess and potentially withdraw from the purchase within a specified timeframe. Note that this doesn’t apply to all sales, such as those at auction, or those where the cooling off period has purposely been waived.

Leading up to settlement, your conveyancer will handle many technicalities: from arranging the transfer document and ensuring stamp duty is paid to making any final adjustments on taxes and rates. This step also involves a final search to guarantee no last-minute legal hitches.

The settlement marks the completion of the conveyancing process, but it’s not the end of the road. Your conveyancer will assist with the registration of the transfer, marking the legal transfer of property into your/the other party’s name.

Remember, each property transaction is unique, and while this guide gives a broad outline, your conveyancer will provide detailed advice tailored to your specific circumstances. This personalized guidance is key to navigating the complexities of property law in Victoria and ensuring a seamless transition to your new property.

For further details, consider exploring resources provided by official authorities and conveyancing experts, such as Sargeants. They can provide comprehensive information on each stage of the process and legal advice tailored to your situation​ (Consumer Affairs)