Conveyancing

The Enduring Power of Attorney and Conveyance Duties

By August 16, 2017 No Comments

Happy business team working together at the officeTitlexchange provides insight and a critical advisory role in transferring property ownership titles from homeowner vendors to buyers amidst piles of paperwork and confusing real estate jargon. Our professional marketplace consists of conveyancers who are licensed and specialised in property conveyancing, have a minimum of 3 years local experience and meet a number of other key criteria. Our goal is to “make conveyancing painless,” simple, easy, and streamline this process online when applicable, as described here on our website.

What is a conveyancer? What is their role in the sale of land, updating titles to the home, transferring titles to buyers (settlement), etc.?

According to a recent post by writer Charlotte Cossar, a conveyancer is

a licensed and qualified professional whose job it is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process.

Conveyancers work with both the buyer and the seller involved in real estate contracts and deeds. In other words, they explain the paperwork for both sides that would otherwise be confusing and too filled with legal terminology for the average consumer to confidently understand. Since homeownership or divesting this resource is vastly important to individuals, they seek financial advising and guidance to properly complete the procedures. Not having an adequate understanding of the paperwork involved lends itself to delayed closings, potential entanglements with government regulators, and plenty of other stressful consequences during an already busy time.

Why do you need professional assistance to fill out some paperwork?

Selling and purchasing a home requires a significant proficiency in the legal documents involved. For instance, a bank needs an official to update a death certificate when an individual has passed and another is inheriting the property. Homes with mortgages have gone into default when no one has made an official claim or updated the death certificate of a homestead. It is crucial to involve a representative to avoid that type of situation when a family is already grieving.

Another horror story about homeownership involves when a buyer purchases a property without having someone delve into the title. A purchaser has to know what type of title it is and if the property has any easements or liens. Without a conveyancer, a buyer potentially faces being responsible for easements and other conditions not immediately apparent to a layperson.

 

What should you ask your conveyancer or lawyer-conveyancer?

During one’s lifetime, homeownership is a major milestone in life. It’s important that one understands the process and feels comfortable. Section 32, the Vendor’s Statement, is a confusing document that we urge people to discuss with their conveyancer. In fact, if this document is factually incorrect and the buyer rescinds their offer or engages in arbitration against the seller, this is completely legal.

In corporate sales, they urge that the Section 32 document be ready a year before the sale and involves organising time-consuming documentation. Notice all these dates and documents? You owe it to yourself to inquire with the conveyancer or lawyer-conveyancer to ensure that the documentation amasses in time.

Feel free to ask your conveyancer about questions or concerns that arise during the closing process. There are a variety of fees and government associations involved in sales. In short, a conveyancer helps make your experience easier, informed, and convenient for you!

At Titlexchange we have created a national conveyancing marketplace that beings together buyers, sellers and conveyancing professionals. Our service offers a fixed and competitive price, and an on-boarding platform that takes hours off the traditional way. Drop us a line today and let’s have a chat.