Conveyancing is the legal process of transferring property from one entity to another.
So what is involved?
When you are buying or selling a house, land or unit there are quite a few things that are happening behind the scenes between signing your contract and either handing over your keys or picking up the keys to your new place!
Our conveyancing managers, Justin Shine and Melinda Stead, along with their team will walk you through every step of the way whether you are buying or selling. They will provide guidance, speak to you in plain English and make you aware of any deadlines. Conveyancers work hand in hand with buyers and sellers during the conveyancing process to provide you with guidance and give you updates in relation to carrying out items you, as a party to the contract, must organise. Some of these items may include:
- Payment of the deposit;
- Insurance requirements for the property;
- Engaging Building and Pest Inspectors (if allowed for);
- Liaising with your brokers and financiers for approval of finance or discharge of mortgage;
- Liaising with all parties in respect of any contract negotiations.
Conveyancers will also handle the “behind the scenes” matters such as:
- Review of your contract prior to signing to ensure the conditions meet your needs;
- Preparation and/or review of official transfer papers and ensure they are lodged with the relevant authority after settlement;
- Provision of the contract and associated property transfer documents to financiers;
- Required property searches with the state and local government and other authorities;
- Additional property searches if requested by you (for buyers);
- Calculation of and attending to payment of stamp duty;
- Calculation of settlement figures including rates, water consumption, body corporate (if applicable) and rental income (if applicable);
- Schedule settlement with all parties including financiers;
- Attend settlement on your behalf and ensure all final payments are made so the property is unencumbered at the time of transfer settlement.
In short, a conveyancer is there to guide you and represent your interest in what is one of the biggest transactions many buyers and sellers make in their lifetime.
Want to know more or need help negotiating your contract?
With over 20 years conveyancing experience each, Justin & Melinda have seen it all. Let their experience help guide you through the convoluted and sometimes, overwhelming Contract and conveyancing process.
Contact them today!