Buying your home

Some common questions about buying a house:

If you need financial assistance to buy a house, finding a loan (or mortgage) is an important step in the process towards owning your home. The property you are buying essentially acts as security for the mortgagee (the lender) so if you fail to make your loan repayments, the mortgagee can sell your house to pay the debt. When deciding on the loan that best suits you, you need to consider the term of the loan (the length of time you have to repay it), the principal to be borrowed (the amount you are borrowing) and the the amount of interest to be paid. A Stacks Conveyancer can go over the terms of the loan with you and answer any questions you may have. We will then work with your finance provider throughout the conveyancing process to make sure they have all of the necessary documents, and to help speed up your loan approval.

It’s a tax charged by the government when you buy a house. The amount will depend on the property’s value, and whether you are entitled to any concessions such as the First Home Owners grant.

After you sign the contract of sale there is a period of 5 days during which you can change your mind (unless you have agreed to waive those rights.) If you decide not to go ahead, you will lose 0.25% of the purchase price from the deposit you paid. You will get back the balance of the deposit though and be free to walk away from the Contract.

This means that someone else has a right to use the land for a specific purpose, even though you have the legal property title. For example, an electricity authority may have a right of way to access your property in order to run power lines and maintain or repair equipment.

If you are buying a new home you may be entitled to this government grant. The amount will depend on the date of the contract to buy the new house. For transactions on or after 1st January 2016 the amount is $10,000. We can advise you about whether you meet the criteria for this grant.

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We’ll always be honest and upfront. We’ll look you straight in the eye and agree on a plan before moving forward.
We know the ropes and our professionals have expertise specific to every legal situation—many are Accredited Specialists.
We speak clearly and directly, so you understand our advice and can make decisions with confidence.
We’re local to wherever you are, and our offices are owned and operated by friendly, local professionals, proud of their communities.
We genuinely care about our clients. It’s the core of who we are and has been since the first practice was opened by ER Stack on the NSW Mid-North Coast in 1931.
We make the process easy for you with the latest tech to keep services cost effective—and you in control.

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