Buying and Selling at the Same Time - Here's How to Make It Work

Thinking about upgrading or downsizing your home?  You’re not alone and it’s completely normal to feel overwhelmed. Selling and buying at the same time can feel like a juggling act, but with the right strategy (and the right team in your corner), it’s achievable.

Here are a few tips on how to make it work, without the stress.

Timing Traps & Settlement Delays

One of the biggest challenges when buying and selling simultaneously is aligning the two settlements. If your sale settles before your purchase, you could be left scrambling for temporary accommodation. If your purchase settles first, you might need access to funds that are still tied up in your current property.

People tend to settle both transactions on the same day and that makes for one busy settlement day.

Settlement delays can happen for all sorts of reasons, finance, paperwork issues, or complications with the other party’s transaction. That’s why it’s so important to build flexibility into your plan and have a conveyancer who can help you negotiate the right terms from the start.

Smart Strategies That Actually Work

Here are some practical options to help you move forward with confidence

• Sell with a longer settlement (e.g. 90 Days)
  A longer settlement gives you breathing room to find your next home, understand your budget, and avoid rushed decisions. It’s a great option if you want to sell first and buy with clarity.

• Know your budget early
  Once your current home is under contract, you’ll have a clearer picture of your available funds. This helps you shop smart and avoid overcommitting.

• Purchase subject to the sale of your current home

  You can make an offer on your purchase subject to the sale of your current home.  Allow a longer settlement time, like 90 days and get the terms of the offer confirmed in writing.

•  Use a Deposit Bond instead of Cash
  If your funds are tied up in your current property, a Deposit Bond can be a great solution. It acts as a guarantee to the seller that you’ll pay the deposit at settlement without needing upfront cash. Deposit Bonds are backed by reputable insurers and offer security without the hassle of transferring large sums. For vendors, it means fewer delays and a smoother transaction especially when the buyer’s finances are solid but temporarily inaccessible.

• Consider an Access Licence
  If the home you are purchasing is already vacant, an access licence can allow you to move into your new home before settlement. It’s a short-term agreement that gives you early access, great for avoiding double moves or temporary rentals. It’s a good idea to negotiate early access before you sign the contract.  I can assist with this.

• Explore Bridging Finance
  Bridging loans can help cover the gap between buying and selling. They’re short-term loans that give you access to funds for your new purchase while you wait for your current property to settle. They’re not for everyone, and interest rates can be a little high, but in the right circumstances, they can be a helpful tool.

Why Your Conveyancer Matters More Than Ever

Coordinating two transactions at once requires precision, communication, and a deep understanding of the legal requirements. That’s where I come in.

As a licensed conveyancer, I specialise in helping clients navigate complex property moves with clarity and confidence. I can help you:

• Review and negotiate contracts to protect your interests

• Liaise with agents, brokers, and other conveyancers to keep both deals aligned

• Flag potential risks early and offer practical solutions

• Keep you informed every step of the way, no jargon, just clear advice

• Whether you're upgrading, downsizing, or just exploring your options, I’m here to make the process seamless and stress-free.

Additional Tips to Help You Navigate the Move

• Get pre-approval early
  Before you list your current home, speak to your broker or lender about pre-approval for your next purchase. This gives you a clear idea of your borrowing capacity and helps you act quickly when the right property comes up.

• Work with a local agent who understands your timeline
  A good real estate agent can help you coordinate your sale and purchase timelines, negotiate flexible terms, and keep both sides moving smoothly. Local knowledge is key, especially in Ballarat’s market.

• Have a backup plan (just in case)
  Even with the best planning, things can shift. Consider short-term accommodation options or speak to your lender about bridging finance early, so you’re not caught off guard if settlements don’t align perfectly.

• Understand the emotional side of moving
  Whether you’re upsizing or downsizing, moving can stir up emotions, especially if you’ve lived in your current home for years. Give yourself time to process the change, and don’t rush decisions just to “get it over with.”

• Don’t forget the hidden costs
  Budget for things like removalists, cleaning, minor repairs, building and pest inspections and rate adjustments. These can add up quickly and are often overlooked in the excitement of buying and selling.

Checklist for Selling & Buying at the Same Time

• ✅ Engage a conveyancer to coordinate both transactions

• ✅ Get your current home listed with a trusted agent

• ✅ Negotiate a long settlement (e.g. 90 days)

• ✅ Know your budget, get pre-approval and estimate sale proceeds

• ✅ Explore Deposit Bonds if your cash is tied up

• ✅ Consider an access licences or bridging finance

• ✅ Keep communication open between all parties

• ✅ Have a backup plan for temporary accommodation

Ready to Chat?

If you're thinking about making a move, let’s talk. I’d love to help you map out a plan that works for your timeline, your budget, and your future goals.  Give me a call - 0403 470 756.

Opening Doors in Ballarat: A Guide to the Victorian Homebuyer Scheme

Thinking about buying a home in Ballarat? The Victorian Government’s Homebuyer Guarantee Scheme could help you get there faster, with a smaller deposit and fewer upfront costs. Here’s what you need to know.

What Is the Homebuyer Guarantee Scheme?

The Victorian Homebuyer Guarantee is a shared equity scheme. The government contributes up to:

• 25% of the purchase price for most eligible buyers

• 35% for Aboriginal and Torres Strait Islander buyers

This means you only need a 5% deposit (or 3.5% for Indigenous buyers), and you won’t have to pay Lenders Mortgage Insurance (LMI), this could save you a whopping $30,000 on a $600,000 home.

In return, the government owns a share of your home, which you’ll need to repay in time. They secure this share in your property by registering a second mortgage on the title to your property.

Example

Purchase price $600,000

Deposit (5%) $30,000

Victorian Government Contribution (25%) $150,000

Bank loan (70%) $420,000

Who Can Apply?

To be eligible, you must:

• Be an Australian citizen, permanent resident, or New Zealand citizen

• Be at least 18 years old

• Earn less than $140,230 per year (or $224,370 for joint applicants or single parents)

• Have saved the minimum deposit (5%)

• Plan to live in the home as your main residence until you can repay the loaned Government funds

• Not currently own property in Australia or overseas

• The purchase price of your home in Ballarat must be $700,000 or less

Benefits for Ballarat Buyers

• Lower deposit = Just 5% needed

• No LMI = Save thousands

• Smaller loan = Lower monthly repayments

• Faster entry = Get into the market sooner before property prices go up

As a first home buyer in Ballarat you will also be eligible for the stamp duty exemption. On a $600,000 purchase you will achieve the following estimated savings:

• Stamp Duty $31,070

• Lenders Mortgage Insurance (approx) $30,000

• Annual interest repayments on 25% of loan $8,000

What Are the Risks?

While the scheme offers great support, it’s important to understand the risks:

• Shared ownership: The government owns a portion of your home and shares in any profit or loss when you sell.

• Repayment required: You’ll need to repay the government’s share eventually, through refinancing, savings, or sale.

• Limited availability: The scheme is only available while funding lasts.

• Property restrictions: Some property types (like stratum titles) aren’t eligible.

Final Thoughts

The Homebuyer Guarantee Scheme is a powerful tool for Ballarat residents looking to get back into the property market or buy their first home. But like any financial decision, it’s important to weigh the benefits and risks carefully.

You will have ongoing annual reporting requirements to make to the State Revenue Office if you take up this scheme. You will also need to have enough funds set aside (in addition to your 5% deposit) to pay for the banks valuation and fees, a building inspection, stamp duty (if applicable), Titles Office transfer fees and conveyancing fees.

The property must be a standard residential property such as a house, townhouse, unit or apartment and the purchase price must be less than $700,000 in regional Victoria.

The purchase can be for a new property provided that a certificate of occupancy has been issued prior to the date of the contract of sale. The property must also be vacant when purchased or, if under a lease, the lease must expire within 12 months of the settlement date and the tenants must vacate the property.

Only a few lenders have partnered with the Victorian Government, so you are limited to which lender you can loan the majority of your purchase price through. I have had personal experience with Bendigo Bank providing this scheme and it was a positive experience.

I hope this article has given you some clarity on the Homebuyer Scheme.

I am happy to discuss any questions you may have or your conveyancing needs on 0403 470 756.

Stamp Duty Simplified! A Local’s Guide to First Home Buying in Ballarat

Buying your first home should feel exciting and not confusing.  It can also feel overwhelming, especially when it comes to costs like stamp duty. The good news is, if you are buying in Victoria, there are some generous exemptions and concessions that could save you thousands.

Here’s a quick guide to help you understand what’s available:

1. Full Stamp Duty Exemption

If you're buying your first home to live in (your principal place of residence) and it's valued at $600,000 or less, you may be eligible for a full exemption from stamp duty. That means you won’t pay a cent in stamp duty. That is a massive saving of $31,070 which is what you would pay in stamp duty if you were not buying your first home.

2. Stamp Duty Concession

If your first home is valued between $600,001 and $750,000, you may still receive a discounted rate. The concession is calculated on a sliding scale, the closer your property is to $600,001, the bigger the discount.  For example, stamp duty on a $605,000 purchase is $1,045 and stamp duty on $745,000 purchase is $38,444.

3. Off-the-Plan Concession

Buying off-the-plan? this is when you purchase a house or apartment that is not fully constructed. You may qualify for a stamp duty discount based on the value of the land and construction costs. This applies if you plan to live in the property and meet the eligibility criteria.  Stamp duty will be calculated on the dutiable value of the completed construction works on the day you purchase the property.

4. First Home Owner Grant (FHOG)

While not directly related to stamp duty, if you're buying or building a new home valued up to $750,000, you could receive a $10,000 grant. This is separate from the stamp duty exemption or concession.  To be eligible for this grant payment, the home must be brand new and never lived in by anyone before or a substantially renovated established home.  This grant is typically applied for via your lender before settlement.  Alternatively, you can apply directly to the State Revenue Office once your new home is constructed.

Eligibility Checklist

To qualify for these benefits, you generally need to:

• Buy your first home in Australia

• Use the property as your principal place of residence

• Be an Australian citizen or permanent resident

• Live in the home for at least 12 months within a year of settlement

Final Thoughts

Navigating stamp duty doesn’t have to be stressful. These exemptions and concessions are designed to make home ownership more achievable for first-time buyers. If you're unsure about your eligibility, chat with a conveyancer (like me!) who can guide you through the process and make sure you're getting every benefit you're entitled to.

Also, Don’t Forget Land Transfer Fees

In addition to stamp duty, first home buyers in Victoria also need to budget for land transfer fees—these are separate charges collected by Land Use Victoria when the property title is officially transferred into your name.

Here’s what you need to know:

• Standard Transfer Fee: As of the 2025/26 financial year, the base fee for electronic lodgement of a land transfer is $101.50.  It then increases in tiered increments depending on the property value.  For example, a block of land valued at $300,000 would be $804 and an established Home valued at $600,000 would be $1,506. 

• Additional Fees: you will also pay a small fee of $125.70 to register your mortgage.   

These fees are not covered by stamp duty exemptions or concessions, so they’re payable regardless of whether you qualify for stamp duty relief.

As a local mobile Conveyancer based in Ballarat, I can help you navigate stamp duty, review a contract and break down the jargon so you understand exactly what you are buying.  I’ll be by your side from the first question right through until settlement helping to make the process as stress-free as possible.

Give me a call to discuss your conveyancing needs on 0403 470 756.