Buying a home is exciting, but it also comes with a few legal and financial steps that can feel intimidating if you’re not quite sure what to expect. One of the most important parts of the process is bond registration. The good news? Once you know the role players and the timeline, it becomes much easier to navigate.
Who’s involved?
Several parties work together to get your bond registered:
- The buyer and seller – you, and the person selling the home.
- The estate agent – helping to guide you through the process.
- The attorneys – three types may be involved: the transferring attorney (appointed by the seller), the bond attorney (appointed by your bank), and the cancellation attorney (appointed by the seller’s bank).
- The bank – which approves and pays out your bond.
Read more: How to Buy Your Home: The process for buying your perfect
Often, one law firm may handle more than one of these roles to simplify the process.
The bond registration journey
Step 1: Offer and approval
Once you’ve signed an Offer to Purchase, you’ll apply for a bond with your bank. When your bond is approved, the bank appoints a bond attorney to start the registration process.
Step 2: Attorneys in action
This is where the behind-the-scenes work happens. The bond attorney, transferring attorney, and cancellation attorney exchange documents, guarantees, and clearances. During this time, you’ll need to sign your transfer and bond documents, and pay your transfer costs.
Step 3: Deeds Office registration
When all the documents are ready, they are lodged at the Deeds Office. It usually takes 2 to 3 weeks for the Deeds Office to check everything. On registration day, the bank pays out the loan, the seller receives their money, and the property officially becomes yours.
The whole process can take around three months, depending on how quickly documents are provided and costs are settled.
What can cause delays?
- Missing or late documents (IDs, proof of income, rates clearance certificates)
- Delays from the seller’s bank in providing cancellation figures
- Buyers not paying transfer or bond costs on time
Tip: Keep your documents ready and stay in regular contact with your agent and attorneys to keep things moving smoothly.
How Chas Everitt can help
At Chas Everitt, we work closely with buyers, attorneys, and banks to help smooth out the process. Our agents guide you through each step, making sure you understand what’s happening and what’s needed.
You can also use tools like BetterBond’s affordability calculators to plan ahead and avoid surprises.
Buying a home doesn’t have to be overwhelming. With the right support and preparation, registering your bond is simply part of the journey toward owning your new home.
Ready to take the next step?
Chat to a Chas Everitt agent today and let us guide you home.
