CONVEYANCER: A legal specialist who is qualified to act in a property transfer.

CONVEYANCING: The act of act of transferring property title from one person (Vendor) to another (Purchaser).

CONTRACT: A Contract for the Sale of Land betwee a Vendor and Purchaser to buy and sell a specified parcel of Land.

COOING-OFF PERIOD: A period of days which commences immedialty after entry into certain Contracts during which the Purchaser may rescind the Contract, usually subject to a small monetary payment to the other party.

DEPOSIT: A sum of money, usually 10% of the purchase price, put down to secure the article, a Vendor may require a deposit to signify genuiness.

DEPOSIT BOND: A gaurantee made by a financial institution that in the event the purchaser defaults from the Contrat the financial institution guarantees to pay the 10% deposi owed to the Vendor.t

DISBURSEMENTS: Miscellaneous expenses other than our fees which paid on behalf of another person and for which reimbursement will eventually be demanded of that person. i.e. certificates from councils etc.

EASEMENT: A right enjoyed by a person in regard to the land of another person.

EXCHANGE: The formal process within a conveyancing transaction in which we physically trade Contracts with the Purchaser. This is when the Contract becomes legally binding.

PURCHASER: This is another name for the Buyer of a property.

REQUISITIONS ON TITLE: A series of questions, inquires, and requests addressed by a Purchaser of an estate of land to a Vendor regarding the Vendor's title.

SECTION 603 CERTIFICATE: A Certificate applied for throught the local concil of your proposed purchase which outlines any outstanding accounts for rates and/or water. These are used to calculate the amount of money each party (vendor and purchaser) is liable for respective of the tme each oarty is in ownership of the property.

SETTLEMENT: The completion of the transaction when ownership of the property is transfered from the Vendor to the Purchaser.

STAMP DUTY: A tax imposed by all Australian States on documents or transactions that affect or record the transfer of the ownership of assets.

STRATA TITLE: Is a form of Torrens Title which relates to properties which form part of a Strata Plan. Properties included under this title are usually units, villas and townhouses.

TORRENS TITLE: The most common type of title to land. Once you are registered as the propretor

TRANSFER: A document, usually a peice of paper showing the title particulars of a property, which passes Title to a purchaser.

UNCONDITIONAL FINANCE APPROVAL: When you have met all the criterea of your lender and we have written confirmation that it is unconditional. Finance may be conditional upon a valuation. This does not constitute unconditional finance.

VENDOR: This is another name for the Seller of a property.