Discover the vital role of a conveyancer in safeguarding your property transactions from scams and fraud. Learn how these legal professionals conduct...
What does a conveyancer do?
In a very neat nutshell, a conveyancer looks after the legal aspects of your property transaction so that it’s hassle-free and watertight, while saving you time and frustration (and potentially money too)!
Conveyancers are professionals who know the ins and outs of property transactions because it’s our speciality. Whether you’re buying or selling, transferring or subdividing, it’s wise to have a conveyancer in your corner so you know everything is properly taken care of.
A conveyancer will keep your transaction running on time at every stage, do all the paperwork for you, lodge your documents and attend to all the legal obligations on your behalf.
Conveyancing for buyers
If you’re buying a property, some of the functions your conveyancer will perform include the following:
- Prepare, scrutinise and lodge your documents, including your Contract of Sale and Memorandum of Transfer.
- Research the property through various searches.
- Arrange to obtain pre-purchase reports like Building & Pest, Development Application, Strata, Valuation, Pool Compliance and Tax Depreciation.
- Advise you if there are any concerns that need to be addressed.
- Keep your deposit safe in a trust account.
- Liaise with the vendor or sales agent on your behalf.
- Deal with your bank or lender to satisfy their requirements.
- Oversee settlement, which involves paying for the property, and obtaining the legal documents so that you are now the new owner.
Conveyancing for vendors
When selling a property, some of the functions your conveyancer will perform include the following:
- Prepare your Contract of Sale and Vendor Disclosure Documents.
- Redraft the Contract of Sale, if necessary, following negotiations.
- Liaise with your real estate agent to fully understand the details of the property and the transaction.
- Manage dealings with your bank, government authorities, utilities providers and the buyer’s conveyancer.
- Oversee settlement so that the funds are released to you.
6 big benefits for you in using a conveyancer
Just as for all professional services, professional conveyancing costs money. But what you get for those fees can literally make the difference between a smooth, straightforward transaction and an unmitigated disaster! Think of that old adage … if you’re not an electrician, would you attempt to re-wire your house?
Here are six reasons why using a conveyancer is kind of a no-brainer!
- Law – Conveyancing is a specialist field involving important legal expertise. Could you cope if something went wrong by the law?
- Money – Conveyancers know how to spot issues before they become problems. This can save you a ton of money.
- Time – DIY conveyancing can take a great deal of time. Wouldn’t you rather use that time packing and moving in/out? (P.S. We won’t even need you to come to our offices because everything is done digitally!)
- Risk – If a property transaction isn’t handled correctly, the whole thing could fall through. Is that a risk you’re willing to take?
- Stress – For someone who’s inexperienced, conveyancing can be stressful, frustrating and confusing. Using a conveyancer means you don’t have to deal with any of that.
- Priorities – Sometimes, when dealing in property, the only person who seems to have your best interests in mind is you. But a conveyancer is legally obligated to put your interests first!
Is conveyancing just for certain types of buyers/sellers?
No, it’s smart to use conveyancing whether this is your only-ever property transaction or you’re an investor who buys and sells a few properties a year.
Couldn’t I do my own conveyancing?
You sure can, but professional conveyancing services give you big bang for buck. Not only is everything done correctly and promptly, but a conveyancer can also pick up on issues that could cost you big chunks of money or even cause the transaction to fall through.
Are conveyancers lawyers?
No, conveyancers are not lawyers, although lawyers can process property transactions. Conveyancers specialise only in conveyancing, which is the legal transfer of title of a property from one person to another. Unless the transaction is particularly complex and involves other areas of law, a conveyancer is all you need. (Hot tip: Conveyancers are cheaper than lawyers!)
Do I have to use a conveyancer near me?
Today, nearly all conveyancing is done digitally, via secure online platforms. Your conveyancer could be in another city or another state from where you are. What matters is that they are across the conveyancing laws in the state where the property is located.