Conveyancing - Protecting Your Interests
Conveyancers Keep Your Dream From Becoming A Nightmare
You’ve just gone through the excitement of searching the real estate listings, going to inspections and auctions and you feel like you’ve now found your dream home. You may be wondering what you do now to actually make your purchase. This is the boring technical, paperwork bit that most new home purchasers pass onto a good conveyancer to handle.
A conveyancer isn’t legally required in Australia, but they are certainly highly recommended. The technical process of property purchase is most certainly confusing and a conveyancer can make the process run smoothly and in your favour. It’s a good idea to research conveyancers before looking for a home so that you’re ready when the real estate asks you for their details.
What is a conveyancer?
A licensed conveyancer is a professional who provides information, advice and the preparation of documents for the settlement process, during the sale of real estate. Conveyancers – who are often also solicitors – are used by both buyers and sellers.
What is conveyancing?
Conveyancing refers to the act of transferring the ownership (title) of a property from one person to another person (or from one entity to another). There are generally three stages to a sales process where a conveyancer can be used: before contract, before completion and after completion.
Before contract, conditions such as financial approval and building inspections are overseen by a conveyancer. Then, before completion involves the process of organising the lead-up to settlement, where legal documents are exchanged along with the payment for the property. Finally, after completion involves the property transfer registration at the Land Titles Office.
Why does someone need this service
There are a number of reasons you may need the service of a conveyancer. The most common are:
- When you’re buying or selling property
- When you’re subdividing land
- When you need to update a title
- When changing, registering and/or removing an easement
What do conveyancers do?
A conveyancer can do the following for a property purchaser:
- Represent your interests throughout the purchasing process.
- Complete research on a property and its title
- Explain the type of title, check for easements etc.
- Explain the process, prepare and lodge legal documentation, such as the contract of sale, memorandum of transfer etc.
- Complete the settlement of the property, advise you on this process and contact banks, the seller etc to advise them when payments have been made.
- Hold your deposit money in a trust account and transfer it when needed.
- Calculate taxes and rates.
Besides the above, a conveyancer does the following for a seller:
- Represent you throughout the process, acting as a go-between and addressing requests from the buyer
- Ensuring all documents are completed and lodged
Why do I need this service?
There are DIY conveyancing kits on the market that will undoubtedly save you money initially, but because the conveyancing process is extremely complicated and time consuming, using a DIY kit can be fraught with risk. It’s similar to selling without a real estate agent. Sure, you might be fine and save a few hundred dollars by doing your own conveyancing, but if something goes wrong, you could potentially find yourself in a situation that will cost you much more than it would have to just hire a conveyancer in the first place!
Who to contact
If you’re after an experienced conveyancer who has proven themselves to be proficient, reliable and trustworthy, give CM Lawyers a call on 02 9568 6266 or contact us online. We are the Investors Choice Winner for Best Conveyancer in NSW and can fulfil your conveyancing needs quickly and professionally, leaving you to move in and enjoy your new home!