Navigating property transactions can feel daunting because of the legal and financial challenges involved. While one of the most crucial steps is to engage a skilled property conveyancer, there are other things you can do to avoid the common pitfalls.

Whether you’re buying or selling, here’s a detailed guide to help you sail through this part of your property exchange:

1. Engage a property conveyancer as early as possible

The earlier you involve a property conveyancer in your transaction, the better. Many people make the mistake of waiting until contracts are ready to be signed before seeking professional advice.

A conveyancer plays a vital role in identifying potential issues with the contract. If you hand it to them at the last minute and you’re under pressure to sign as soon as possible, you won’t have the breathing room to address any issues they identify.

Saying, “I’m sure it will be fine!” is not the best approach when dealing with a property exchange contract. Small points have the potential to impact your future so take your time as much as possible.

2. Conduct thorough due diligence

Before committing to any property transaction, thorough due diligence is critical. This includes ordering property inspections to identify structural issues, conducting title searches to verify ownership and ensuring there are no unexpected zoning or planning restrictions.

Your property conveyancer can assist with this, highlighting potential risks that may affect your decision to move forward with the purchase or sale. They can help you engage a property inspector who is reliable and thorough, and they know how to read the plans of a strata building to spot potential issues.

3. Have contracts reviewed carefully

One of the most important tasks your property conveyancer will undertake is a meticulous review of your contracts. They ensure all terms, conditions and inclusions are clearly defined and in your best interest.

Misinterpretations or unclear clauses in the contract can lead to disputes, delayed settlements, or additional expenses. With the guidance of a qualified conveyancer from NPR Law, you’ll have the confidence that all documentation is accurate and protects your rights.

4. Ensure full disclosure

If you are selling your property, full disclosure is a legal obligation.

Disclosure requirements change frequently. In Queensland, for example, a new mandatory Seller’s Disclosure Regime will apply from 1 August 2025. Under this, a seller will be required to provide a disclosure statement and prescribed certificates in relation to the property they are selling to a prospective buyer before a contract of sale is signed by the prospective buyer. Your property conveyancer can help ensure you meet the disclosure requirements.

5. Secure your financing early

One of the most common causes of delays in property transactions is the buyer’s failure to secure financing in time.

To avoid this, it's essential to have your financing organised well before the settlement date. This includes having your loan pre-approved and ensuring all funds are readily available. Being financially prepared not only fast-tracks the settlement process, it positions you as a more reliable buyer in a competitive market.

6. Clarify inclusions in the sale

When negotiating a property sale, both buyers and sellers should clearly define what is included in the sale and what is not. Items such as fixtures, appliances or furniture included in the sale should be specified in writing to avoid misunderstandings later.

The more details included and agreed on in writing, the lower the risk of disputes on settlement day. Your conveyancer will ensure that all inclusions and exclusions are clearly stated in the contract.

7. Pay attention to detail

A property exchange contract is a legal document. Make sure the name you sign matches your ID and the name provided on your bank loan so your settlement is not delayed. It’s easy for mistakes to happen with spelling, married names etc.

8. Understand special conditions

Some contracts may contain special conditions, such as finance clauses, pest inspections or settlement extensions. It’s crucial to understand these conditions fully. If any terms are unclear or complex, seek clarification from your property conveyancer. They will explain the implications of each condition and ensure that you are protected should any unforeseen issues arise.

9. Maintain open communication with your property conveyancer

A successful property transaction relies on clear and consistent communication between all parties involved – your conveyancer, real estate agent and lender. Keep the lines of communication open from the day you make an offer until settlement day, to prevent misunderstandings and ensure the process runs efficiently. Along with your mortgage broker, it's your property conveyancer’s job to get you to settlement day but they will do their best work if they have the right information.

10. Stay informed and involved

While your property conveyancer will handle much of the legal and procedural aspects of the transaction, staying informed is essential. Regularly check in with your conveyancer and real estate agent to track the progress and address any emerging issues promptly. This proactive approach will help you avoid unnecessary setbacks or surprises.

Ready to exchange property?

By following these proactive measures, you can significantly reduce the risk of a derailed property transaction. The expertise of a qualified property conveyancer is invaluable, providing peace of mind and guiding you through potential challenges to ensure a successful outcome.

Property Conveyancing: NPR Law can help

If you have any questions or need assistance with a property transaction in Queensland, our Caboolture-based lawyers are here to help. Please call us on 07 3555 6333 or contact us here.