Legal Side of Real Estate

Legal Side in Selling and Buying Real Estate


1. Agency Agreement

“Agency agreements are a contract between the property owner and the agent.” It is a legal document you would sign with a real estate agency for selling your property.

2. Contract for the Sale of Land

Composition of a contract for the sale of land
(1) Standard Part ( first 12 pages) is for every
property transaction. First page covers the
property transaction brief.
(2) Special conditions
(3) Title Search
(4) Strata Search
(5) Sewage Diagram
(6) 149 Planning Certificate
(7) 66 W – no cooling off clause
(8) Smoke Alarms Requirement

3. Stamp Duty
On purchasing a property, most of buyers need to pay two stamp duties. First one is for the purchasing of the property; second one is on the loan they borrowed. First home buyers enjoy favourable policy in purchasing properties for a certain amount.

If you don’t need to borrow money, you would not need to pay stamp duty on mortgage

Please check stamp duty against relevant policies from
State Revenue Office of NSW

4. Tax on Capital gain

• For your prime home, you don’t pay tax for capital gain when your property is sold.
• For your investment property, you need to pay tax for capital gain. 50% of the capital gain is taken as personal income.

Please consult your solicitor, accountant regarding the application of your own situation.

May Ma
Licensed Real Estate Agent/Justice of Peace
0434 996 678

Ray White Eastwood
Tel: 02 - 9858 3778
Fax: 02 – 9858 3208
6/ 637-639 Blaxland Rd
Eastwood NSW 2122