Conveyancing – you may have heard the term and immediately winced at the idea of more steps being involved in the already stressful process of buying and selling a house. However, your conveyancer is there to walk you through the process and ensure you are able to reach settlement without complication or hassle. With surprises being an unwanted aspect of real estate, our Titlexchange team seeks to vigilantly oversee your conveyancing process.
So what is my conveyancer’s role?
- Check the contract – Your conveyancer will look through your contract to ensure there are no unwanted surprises that will arise following your purchase, and will discuss any peculiarities with you. The conveyancer will assess any terms and special conditions as to finance, building inspection, planning permit, building works or otherwise. They will also be able to advise if there is GST or possible stamp duty savings.
- Check the Vendor’s Statement – Your conveyancer will examine the section 32 Vendor’s statement and check the title and plan of subdivision and certificates that are attached and will again advise you if anything appears unusual.
- Conduct a title search – A title search will enable the conveyancer to confirm the title particular’s and check the vendor is the registered proprietor. Your conveyancer will carefully assess if the property has any encumbrances, particularly dealings that have not been disclosed in the Vendor’s statement.
- Apply for property and statutory certificates – Applying for these certificates enables the conveyancer to calculate the adjustments for the settlement statement. If there are any rates, Owners corporation or land tax owing, these will be shown on the certificates and adjusted against the vendor. Obtaining a planning certificate is particularly important for zoning. Your conveyancer may also apply for a building certificate if there have been building works in the last 7 years, which are an important document in protecting against buying a property that has been improperly built.
- Lodge a caveat upon your instruction – Following a binding document of sale, there is the possibility of lodging a caveat against the vendor’s title. A caveat acknowledges your interest in the land and seeks to protect against the vendor attempting to again sell the land or borrow against it. If you are interesting in lodging a caveat, ensure you instruct your conveyancer.
- Prepare the transfer of land – Your conveyancer will prepare the documentation for the transfer of land, which will allow for the change in possession of the title.
- Liaise with your bank on your behalf – Following being advised that your conveyancer is acting on your behalf, your conveyancer will liaise with your bank to organise settlement.
- Arrange settlement – Following all documentation being prepared and signed, settlement will occur at an agreed upon time and will end with the keys to your property in your hand and a big smile at how easy the process was!
- Advise you and generally look after your interests – The conveyancing process is not meant to be a stressful one. If you have any questions do not hesitate to contact our team.
Law&Co’s Titlexchange is fast becoming the market leader in conveyancing across Australia. With competitive, fixed fees across a number of standard packages and simple bolt-on services to suit your individual conveyancing needs. Transparent, simple and painless conveyancing is the order of the day so that you can get to settlement in the quickest way possible. Would like to find out more about how we can help you with your property transfer? Arrange a call with one of our lawyers today.