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Hi Keith But you could still lose out. If someone else lodges a caveat or writ etc after you exchange then you could lose priority. Imagine you had all the inspections done, the removealist truck packed and the loans ready to go and then you find out you can't settle.

Not very practical. You could still lose priority anyway. Imagine all the work done up to that stage and then you find out you can't settle. Better to put the caveat on when exchanging and notifying the world of your interest straight away.

It may not be the first to happen but the first to be heard in the High Court which now creates a precedent that you can lose priority if you do not protect your caveatable interest with a caveat.

The Law society now recommends that solicitors advise a client that they should lodge a caveat after signing (in NSW) because of the Black case. If the client doesn't want one it is up to them. Incidently, in Black the solicitor for the purchaser did their final title search on the day of...