Legal Project Management Plan & Checklist
Purpose of this Guide: This is the practitioner-grade matter plan for managing a residential property purchase in New South Wales on behalf of the buyer. Designed for conveyancing solicitors and licensed conveyancers, this comprehensive guide covers the entire conveyancing lifecycle under the Conveyancing Act 1919 (NSW), Real Property Act 1900 (NSW), Duties Act 1997 (NSW), and the Electronic Conveyancing National Law (NSW). It covers mandatory disclosure review, verification of identity (VOI) under the ARNECC Model Participation Rules, cooling-off management, transfer duty assessment via EDR and the First Home Buyer Assistance Scheme (FHBAS), Foreign Resident Capital Gains Withholding (FRCGW), Foreign Investment Review Board (FIRB) compliance, PEXA electronic settlement, and post-settlement notifications.
Jurisdiction: This guide applies to residential property transactions in New South Wales, Australia, processed through the electronic conveyancing platform and lodged with NSW Land Registry Services. Verify current guidelines on the official .
The Process at a Glance: The matter proceeds from initial client intake and Verification of Identity (VOI), through contract review and exchange (with or without the standard 5-business-day cooling-off period under s66W of the Conveyancing Act), through pre-settlement searches and Transfer Duty assessment via the Electronic Duties Return (EDR) portal, PEXA workspace setup, statement of adjustments, shortfall calculation, electronic settlement at PEXA, and concludes with post-settlement notifications (Order on Agent, strata notification, file closure).
This legal matter plan provides a structured workflow for REAL_ESTATE cases, outlining the standard TRANSACTIONAL process. Utilize these tracking templates to manage your legal cases efficiently.
Client onboarded, VOI and CAF completed, contract fully reviewed and advice letter delivered, finance and inspections arranged.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.
From 1 April 2025 to 31 March 2027, there is a temporary government ban on foreign persons purchasing established (existing) dwellings. Foreign persons may still purchase new dwellings and vacant land with FIRB approval.
NSW charges a Surcharge Purchaser Duty of 9% (from 1 January 2025) on the purchase price for foreign persons, in addition to standard Transfer Duty. The surcharge is imposed under the Duties Act 1997 (NSW).
Prepare the relevant forms and supporting materials required under the applicable legislation, ensuring all mandatory fields are completed and all attachments are properly certified.
Draft and dispatch formal correspondence addressing the procedural requirements at this stage, including any required notices, requests for information, or proposals for resolution.
Contracts exchanged, deposit paid, cooling-off period managed (with or without s66W waiver), finance confirmation obtained.
Coordinate the collection and review of all financial documentation required for disclosure, including statements, valuations, and supporting schedules as mandated by the rules.
All pre-settlement searches ordered, Transfer Duty assessed via EDR with FHBAS concession applied if eligible, FRCGW clearance verified, FIRB compliance confirmed, requisitions on title served and replied to.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.
s66W Conveyancing Act 1919 (NSW) - the certificate certifies the solicitor has explained the effect of waiving cooling-off. Once issued, the contract is immediately binding at exchange with no rescission right. The full 10% deposit is typically required at exchange rather than the 0.25% holding deposit.
Conduct a thorough review of all filed materials to ensure compliance with court requirements, verify service obligations have been met, and prepare for the next procedural milestone.
Assess the strategic considerations for interim applications, prepare supporting evidence, and draft the necessary documentation for urgent or time-sensitive relief sought.
Prepare the relevant forms and supporting materials required under the applicable legislation, ensuring all mandatory fields are completed and all attachments are properly certified.
NSW Transfer Duty rate thresholds under the Duties Act 1997 (NSW) (CPI-adjusted annually - confirm via Revenue NSW calculator):
FHBAS thresholds: full exemption up to $800,000; concessional rate from $800,001 to $1,000,000. Vacant land: full exemption up to $350,000; concessional up to $450,000.
Foreign Purchaser Surcharge Duty: 9% from 1 January 2025.
Draft and dispatch formal correspondence addressing the procedural requirements at this stage, including any required notices, requests for information, or proposals for resolution.
From 1 January 2025, the FRCGW $750,000 threshold was abolished and the withholding rate increased from 12.5% to 15%. ALL property sales now require the vendor to provide an ATO clearance certificate. Certificates are valid for 12 months from issue. If no valid certificate is provided, the purchaser must withhold 15% and remit to the ATO within 28 days.