Skipping Title Searches and Due Diligence
The contract of sale tells you what the vendor wants you to know. Title searches tell you what's actually registered against the property. Easements, caveats, covenants, and encumbrances can all affect how you use your new home. An easement might mean a utility company can dig up your backyard. A covenant might restrict renovations or prevent you from building a granny flat.
First home buyers often skip proper due diligence because they don't know what to look for. Our residential conveyancing service includes comprehensive title and planning searches. We explain what each finding means in plain language, not legal jargon.
Missing Stamp Duty Concessions and FHOG Deadlines
First home buyers in Australia can access significant stamp duty concessions and the First Home Owner Grant. But eligibility rules are strict and vary by state. Miss a deadline or tick the wrong box, and you could lose thousands in savings.
Here's a common mistake: rentvestors sometimes assume they're ineligible for first home buyer benefits because they own an investment property. That's not always true. If you've never lived in that investment property, you may still qualify. However, living in an investment property for more than six months in Victoria or NSW permanently disqualifies you from future first home buyer benefits.
We calculate your stamp duty obligations and check your eligibility for concessions before settlement. No surprises.
Poor Communication with Your Lender
Settlement delays caused by bank issues are stressful and expensive. If your lender isn't ready on settlement day, you could face penalty interest or even lose the property. First home buyers often don't realise how much coordination happens behind the scenes between their solicitor, the bank, the vendor's representative, and the settlement platform.
We handle liaison with your lender throughout the process. We chase up outstanding documents, confirm settlement figures, and make sure everyone is ready on the day. You shouldn't have to manage this yourself.
Not Understanding What You're Signing
Contracts of sale are written by vendors to protect vendors. They're full of terms like "vendor warranties," "special conditions," and "adjustment calculations." If you don't understand what these mean, you can't know whether the deal is fair.
We explain every clause in plain English. We flag unusual conditions that could cause problems. And we negotiate amendments where the contract terms are unreasonable. A solicitor review costs $1,320 plus disbursements. A missed clause can cost you far more.
