Introduction; Buying or selling a house

This chapter includes information about buying and selling a house where the property has a registered land title (seeLand titles”). The topics covered include conveyancing, mortgages, government assistance schemes, and the contract of sale.

However, this chapter does not contain information detailed enough to enable you to do your own conveyancing. Further, since the introduction of electronic conveyancing in Victoria, it is not possible to do your own conveyancing.

Key terms:

vendor: the person or organisation selling a property;

purchaser: the person or organisation buying a property;

discharging mortgagee: the bank lending the money to the vendor;

incoming mortgagee: the bank lending the money to the purchaser.

All these four parties participate in the settlement of a conveyance.