Conveyancing is a detailed and sometimes intricate process. While conveyancers are there to help, certain common mistakes can still trip up buyers and sellers. By understanding these errors, you can be better prepared to avoid them, ensuring your property transaction goes as smoothly as possible. Here are five of the most common mistakes to watch for in NSW.

1. Not Hiring a Conveyancer Early: Waiting until the last minute to hire a conveyancer can result in overlooked details in the contract. An early review of the contract can catch unfavourable terms or potential issues.
2. Skipping Pre-Purchase Inspections: Many buyers assume inspections are unnecessary, but pest, building, and strata inspections are critical. These can reveal hidden issues that may affect your decision or bargaining power.
3. Overlooking Easements and Covenants: Easements (where others have rights to use your land) and covenants (restrictions on property use) can restrict how you use the property. It’s essential to understand these before committing to a purchase.
4. Underestimating Costs: Conveyancing fees go beyond just the professional fee. Budgeting for costs like stamp duty, inspections, and legal fees is crucial to avoid last-minute financial stress.
5. Being Unprepared for Settlement: The settlement phase is complex, requiring final financial arrangements and coordination. Missteps here can delay the transaction and create unnecessary stress.

Avoiding these common mistakes can save you time, money, and stress in your NSW property transaction. By hiring a conveyancer early, budgeting carefully, and being proactive in each phase, you can ensure a smoother experience from start to finish.