What are conveyancing services?Fri, 12th Mar 2021
There is very likely to have been a time where you’ve heard of the term “conveyancing”. But, what does it actually mean?
There is very likely to have been a time where you’ve heard of the term “conveyancing”. But, what does it actually mean? What does a conveyancer even do? When will you need to get in touch with them to start their services? If you’re unsure of what conveyancing is all about, we have provided you with the main points here so you know exactly what a conveyancer does and what to look for when hiring one.
When will I need a conveyancer?
If you’re looking around the property market and thinking of buying or selling a home or property, chances are you’ll need a quality conveyancer. A conveyancer will help you to understand the ins and outs of purchasing or selling your property and can help handle the legalities of the process. Signing documents is just the beginning when it comes to property sales, so having a thorough conveyancer who can help you through the process is a must.
But, one thing to note is that you can also opt for the services of a lawyer who provides conveyancing services. A lawyer will go the extra mile, will have a more thorough understanding of the legalities involved with buying and/or selling property and will also have an extensive level of training and education that a conveyancer may not have.
So, conveyancing is all about handling paperwork?
Not exactly. A conveyancer is more than just a glorified secretary. Not only will they handle the paperwork for you, but they’ll also work to ensure your rights are protected throughout the sale. They want to make sure all legal obligations throughout the transaction are met and everyone is taken care of. Depending on the complexity of the sale/purchase, the scope of the work performed can vary quite a lot.
Handling documents and legal work
One of the most important aspects of a conveyancers role is to ensure the documents for the transaction are prepared correctly and all legal bases are covered. When you choose a lawyer to complete this work, you can rest easy knowing that they know the legalities involved in all aspects of the transaction and will have the best knowledge and expertise compared to a conveyancer.
They will ensure the transfer of the sale from one owner to the next goes smoothly and the property is rightfully put into your name when buying a property. Each state or territory in Australia has different legal requirements in property sales, so it is also their responsibility to ensure all legal regulations are looked after in your respective location.
Completing research and statement of adjustments
When you purchase a property, if there is any outstanding debt or negative interest on the property, that gets transferred to you once it is in your name. Unless, of course, you have a professional lawyer on your side who can complete the relevant checks and complete a statement of adjustments. In order to protect you and your rights, your lawyer should do the necessary searches and prepare a statement of adjustments to ensure you don’t inherit any debts (if you are the purchaser of the property). Some of the checks include a title search, local authority searches, an assessment of the risk of bushfires and floods, structural reports, pest inspections and debts with any strata titles.
Contract of sale preparation
If you’re selling a property, the contract of sale preparation and vendor disclosure statement will be prepared by your conveyancer/lawyer. This will cover any special requirements and conditions to be included in the contract. Having a solid contract written up means you can feel at ease throughout the transaction and know you will have a smooth settlement with as few issues as possible. If you’re a buyer, the contract of sale and vendor’s statement by your conveyancer will mean that you can see if there are any red flags or any potential issues in the contract. If you’ve asked a lawyer for assistance, they can advise on any clauses or changes that should be made to the contract to protect you from any potential risks. Buying a house or property is a big step in anyone’s life, so ensuring you are covering all bases and are protected legally is a must.
But, one of the key things to remember is that, while a conveyancer is there to help you through the process, you can get even more assistance and legal help with a lawyer on your side. A lawyer who completed conveyancing services will be quite thorough and will have even more expertise than a conveyancer.
Before buying or selling a property, it’s always advised to get professional advice and service from an experienced lawyer. They will help you to make the best decisions throughout the sale and ensure you are protected throughout the whole process.
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