Legal Project Management Plan & Checklist
Step-by-step NSW home purchase plan: contract review, cooling-off, council and title searches, transfer duty, first home buyer help and e-settlement.
How long is the cooling-off period when buying a home in NSW?: Under s 66S of the Conveyancing Act 1919 the cooling-off period for a contract for the sale of residential property ends at 5 pm on the fifth business day after the day the contract is made, or the tenth business day for an off the plan contract. Under s 66T there is no cooling-off period if the purchaser gives a s 66W certificate, which must be signed by a solicitor or barrister who is not acting for the vendor, or if the property is sold at public auction or on the same day it was passed in at auction.
Which council certificates should a NSW buyer order before settlement?: The council's section 603 certificate under the states the rates, charges and other amounts due on the land, and producing it is conclusive proof of those matters in favour of a bona fide purchaser for value. Where the council supplies water, a special water meter reading captures usage for the adjustment. A section 735A certificate is conclusive proof of whether any council notice is outstanding and also covers development control orders under Schedule 5 of the Environmental Planning and Assessment Act 1979.
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Do first home buyers pay transfer duty in NSW?: For contracts exchanged on or after 1 July 2023, Revenue NSW's First Home Buyers Assistance Scheme gives a full exemption for a new or existing home valued at $800,000 or less and a concessional rate above $800,000 and below $1 million (for vacant land, $350,000 and $450,000). The application is form ODA 066B, lodged with the individual purchaser declaration and proof of identity through the solicitor or conveyancer. Every purchaser also completes a purchaser declaration (ODA 076I or ODA 076NI) recording whether surcharge purchaser duty for foreign persons applies.
Jurisdiction: New South Wales. The purchase is a private contract between vendor and purchaser. Revenue NSW assesses transfer duty, the council for the land issues the planning, rates and notices certificates, and the transfer and any mortgage are lodged with NSW Land Registry Services through an electronic lodgment network such as PEXA. This plan covers a standard residential purchase from engagement to post-settlement notifications.
The Process at a Glance: The matter begins with client intake and face-to-face Verification of Identity, followed by review of the draft contract and search certificates. Once the client is ready to proceed, contracts are exchanged - either with a five-business-day cooling-off period or with an immediate exchange using a certificate waiving cooling-off. Pre-settlement searches are ordered and a Transfer Duty assessment is lodged via the Electronic Duties Return portal. If the client is a first home buyer, an application for the First Home Buyer Assistance Scheme exemption or concession is lodged at the same time. Finance approval is monitored and the incoming mortgage documents are executed. A PEXA workspace is created, the statement of adjustments is prepared, and the shortfall amount is calculated and collected. On settlement day, the PEXA workspace settles simultaneously with electronic lodgement at NSW LRS. Post-settlement notifications are issued to the managing agent, the strata manager if applicable, the local council, and the water authority.
Key Legislation: Conveyancing Act 1919 (NSW) ss 66S, 66T and 66W (cooling-off period, exceptions and the certificate). Conveyancing (Sale of Land) Regulation 2022 (NSW) Schedule 2 (the vendor's warranty and adverse affectations). Environmental Planning and Assessment Act 1979 (NSW) s 10.7 (planning certificates) and Schedule 5, cl 41. Local Government Act 1993 (NSW) ss 603 (rates certificates) and 735A (outstanding notices certificates). Real Property Act 1900 (NSW) (Torrens title). Duties Act 1997 (NSW) (transfer duty and surcharge purchaser duty) and the First Home Owner (New Homes) Grant, both administered by Revenue NSW. Foreign resident capital gains withholding is administered by the ATO.
* Disclaimer: We're nobody's lawyer, because we aren't lawyers. You are, so you know better than to take legal advice from an app. We also aren't accountants or dog trainers - just digital spirit guides taking zero liability for any of this. This site exists to gather the collective knowledge of practitioners like you. Verify everything and submit your feedback on the Property Purchase (Buyer) - NSW - Standard Residential Purchase matter plan to improve the playbook. THIS IS NOT LEGAL ADVICE, it's a request for input.
This legal matter plan provides a structured workflow for Real Estate cases, outlining the standard TRANSACTIONAL process. Utilize these tracking templates to manage your legal cases efficiently.
| Matter numberⓘ |
matter.matterNumber |
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inheritedmatter-core |
| Matter title | matter.title | text | - | inheritedmatter-core |
| Matter typeⓘ | matter.matterType | text | - | inheritedmatter-core |
| Matter status | matter.status | text | - | inheritedmatter-core |
| Client(1) | ||||
| Client name | matter.clientName | text | Required | inheritedmatter-core |
Client onboarded, VOI and CAF completed, contract fully reviewed and advice letter delivered, finance and inspections arranged.
Contracts exchanged, deposit paid, cooling-off period managed (with or without s66W waiver), finance confirmation obtained.
All pre-settlement searches ordered, Transfer Duty assessed via EDR with FHBAS concession applied if eligible, FRCGW clearance verified, FIRB compliance confirmed, requisitions on title served and replied to.
PEXA workspace configured, all instruments signed, settlement statement of adjustments agreed, client shortfall funds received into trust.
Electronic settlement completed on PEXA, title registered, Order on Agent issued, post-settlement notifications sent, client reporting delivered, file closed.
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