Verification of Identity
Conveyancers are now required to hold, for each person they transact a matter for, proof of identity by way of a face-to-face in-person interview. If this cannot be achieved, a client is required to attend in person at a participating Post Office who, for a fee, will perform the Identification Service and thereafter provide a Report. The Report is retained by the Post Office for a period of 7 years and can be accessed whenever proof of identity is required.
First Home Buyers
For eligible transactions made after 1 January 2016, the grant amount is $10,000.
For eligible transactions made between 1 October 2012 and 31 December 2015, the grant amount is $15,000.00.
The Grant is to assist eligible first home owners to purchase a new home or build a home.
First Home - New Home scheme
Provides eligible purchasers with exemptions from transfer duty on new homes valued to $550,000 and concessions for new homes valued between $550,000 and $650,000. Eligible purchasers buying residential vacant land to build their home will pay no duty on vacant land valued up to $350,000 and will receive concessions for vacant land valued between $350,000 and $450,000
From 1 July 2012 there is a $5,000 grant available to purchasers of new homes and homes off the plan not exceeding $650,000 and vacant land (not exceeding $450,000) on which construction of a new home will commence within 6 months of settlement of purchase. This grant is available to any entity and there is no restriction on the number of times a purchaser can apply for the grant.
Information on Government benefits can be found at http://ww.osr.nsw.gov.au/benefits/
Swimming Pool Legislation
From 29 April 2013, property owners must register their swimming pool. The web address to register is www.swimmingpoolregister.nsw.gov.au. Non registration attracts a penalty of $220.00. It is now a requirement for all Vendors to include in a Contract for Sale either a Swimming Pool Compliance Certificate or a Swimming Pool Certificate of Non-Compliance.