Most simply put, conveyancing is the process of legal transfer of property ownership.
Conveyancing is carried out by licensed practitioners who are specialists in property law with specific qualifications. The complexity of property law demands this of practitioners, and you should ensure that your conveyancer is properly qualified to do your work.
Conveyancers may act on behalf of sellers or buyers. Their primary responsibility is to prepare all of the many legal documents that form the property transaction, including the contract of sale and vendor’s statement. They will also conduct all of the title and planning searches to meet legal disclosure obligations.
Conveyancers do the legal “leg work” that will help you make the best decisions whether you are a buyer or seller and help you navigate the whole process smoothly and successfully. And although conveyancers are not usually directly involved with finance arrangements they can facilitate the processes with banks. Conveyancers can also help you determine what statutory fees you need to pay, which depends on such factors as the price of the property and the state or territory you purchased it in.
The duties of a buyer’s conveyancer include:
- checking the contract
- exchanging contracts with the seller’s conveyancer
- advising the buyer about finance
- checking the mortgage documents
- preparing a statement of adjustments and settlement statement
- arranging and attending settlements
- lodging a notice of acquisition of land
- notifying the council and water authority of the purchase
The duties of a seller’s conveyancer include:
- preparing a vendor’s statement including any clauses in the contract
- preparing a contract of sale
- exchanging contracts with the buyer’s conveyancer
- checking the transfer, statement of adjustments and settlement statement
- preparing the statutory declaration about the value of chattels
- attending settlement on the seller’s behalf
- notifying the council and water authority of the sale
All of these tasks are complex for buyers or sellers trying to complete them on their own, and using a conveyancer can streamline the process.
Spot On Conveyancing are proud to offer a smooth process for sale and purchase of properties, helping you to a stress-free seamless transaction.
Contact us today on the number above for all your conveyancing needs.