Pullock Attorneys

Bonds & registration, explained

If you’re buying with a home loan, a bond has to be registered at the same time as your transfer. Here’s how it fits together and who does what.

When you finance a property purchase through a bank, the bank secures its loan by registering a bond over the property in the Deeds Office. This happens simultaneously with the transfer of ownership to you. The two are lodged and registered together, along with the cancellation of the seller’s existing bond. Getting all three to line up is a big part of what keeps a transfer on schedule.

Three attorneys, one registration day

A financed sale usually involves three sets of attorneys working in step:

The transferring attorney — handles the transfer of ownership (often us, when we act for the seller).
The bond attorney — appointed by the buyer’s bank to register the new bond.
The cancellation attorney — appointed by the seller’s bank to cancel the existing bond.

All three sets of documents must be ready and lodged together so they register on the same day. If one lags a slow bond grant, an outstanding cancellation figure the whole matter waits. We actively coordinate these so nothing stalls unnecessarily.

The bond process alongside your transfer

1

Bond grant

Your bank approves the loan and issues a grant to its chosen bond attorney.

2

Bond documents prepared

The bond attorney prepares the bond and you sign, paying the bond registration costs

3

Cancellation readied

The seller’s bank issues cancellation figures and instructs the cancellation attorney.

4

Simultaneous lodgement

Transfer, new bond and cancellation are lodged together in the Deeds Office.

5

Registration

Everything registers on the same day: you become owner, your bond is in place, the seller’s bond falls away.

What bond registration costs

Bond costs are separate from transfer costs and are based on the bond amount, not the purchase price. They include the bond attorney’s fee (on a recommended guideline tariff), Deeds Office fees, and sundries. A cash buyer pays none of these. Our cost calculator estimates both transfer and bond costs together so you can see the full picture.

Common questions

Can I choose my own bond attorney?

Generally the bank appoints the bond attorney from its panel. The transfer attorney, by contrast, is usually nominated by the seller.

What if my bond is approved late?

A late bond grant is one of the most common causes of delay, because everything must lodge together. We keep in contact with the bank and the other attorneys to push things along.

Do I pay bond costs if I'm buying cash?

No. Bond registration costs only apply when you’re financing the purchase with a home loan.

This page is general information about Pullock Attorneys’ services and is not legal advice. Costs and timeframes are indicative and vary by matter. Please contact us for advice specific to your situation.