What Is A Conveyancer’s Role?

Everything You Need to Know About the Role of Conveyancer

The conveyancing process is necessary when buying or selling property. A professional conveyancing service helps with the settlement and title transfer process by ensuring that their client meets all legal obligations and that their client’s rights are protected during property transactions. Both buyers and sellers will need to use the legal services of conveyancing professionals or property lawyers because both sides must fulfil certain obligations in a Contract of Sale.

(Compare real estate agents upfront at LocalAgentFinder to find a good real estate agent, and contact Dott & Crossitt to take care of your conveyancing needs.)

A conveyancer will typically perform the following tasks:

Drawing Up Legal Documents

One of the primary roles of a solicitor or conveyancer is to help prepare all of the documents that are part of any real estate transaction.

Selling Property

When selling your property, this includes preparing the Contract of Sale and ensuring that any special conditions you require are included in this final contract. This will protect you from any potential conflict later.  Sellers will also need to have the Vendor’s Statement prepared.

A conveyancer will conduct all of the title and planning searches that go into this final statement so that you have met all of the disclosure obligations according to the relevant property laws in your state or territory. These are the two most important documents for sellers, but your solicitor or conveyancer may also be required to prepare further ancillary documents that are part of the settlement process.

Buying a Property

Buyers will need a conveyancer to prepare all transfer documents that ensure a property is rightfully and legally transferred to them. These essential documents will include all the necessary details to meet legal regulations in your state or territory.

Working with a Professional Conveyancer 

A conveyancer or solicitor will provide you with thorough contract advice and also undertake a good portion of the legal work needed to help you make the right decisions and navigate this process successfully.

Conveyancer’s Role When Selling Property

If there are any particular conditions that must be included in the Contract of Sale, your conveyancer or solicitor will be able to advise you. The unique conditions will be dependent on your circumstances. For example, if you wish for your settlement date to coincide with another purchase settlement, the conveyancer can arrange this for you. This is helpful if you are buying and selling at the same time. 

A conveyancer or conveyancing lawyer can also help advise you regarding the documents you will need to give the buyer to complete the settlement. They can contact your mortgagee and arrange for this to be discharged on the settlement date. The solicitor or conveyancer will have all of these required documents ready for you on the settlement date, so there is no confusion.

Related: The Ultimate Guide to Selling Your Property 

Conveyancer’s Role when Buying Property

The conveyancer working on behalf of the buyer will advise on the terms and conditions of the Contract of Sale. They will point out any specific terms that you should be aware of. This also applies to the vendor’s contract. If there are any planning restrictions or other details out of the ordinary that you should consider, the conveyancer or solicitor should be able to help point these out to you.

Although your conveyancer or solicitor will usually not be involved with the direct finance arrangements, they can help you arrange the settlement with your bank, facilitating this process by ensuring that your bank receives all the necessary title details and assisting them when the time comes to prepare mortgage documents. They can also help give the bank cheque details to the vendor. A solicitor will have the legal training necessary to help provide you with advice regarding your mortgage documents, which is why some will choose to work with a solicitor rather than a conveyancer.

If there are any adjustments needed before settlement, the conveyancer can assist you and make sure that you only pay the costs associated with the property from the date of settlement. This helps prevent you from paying for things such as council and water rates before the settlement date. Finally, the solicitor or conveyancer can help you determine what statutory fees need to be paid. These will depend on several factors, including the purchase price of the property and the state or territory in which you purchased the property.

Arranging Settlement

One of the major roles of any Solicitor or Conveyancer is to help arrange the final details of the settlement.

Prepare Settlement & Contract of Sale

The seller’s conveyancer will coordinate a proper time for settlement with the buyer’s conveyancer. The settlement day is laid out in the Contract of Sale, but the conveyancers can coordinate the ideal time for both the seller and purchaser. This will depend on the parties’ banks and mutual convenience. After the settlement has occurred, the conveyancer or solicitor will get in touch with your real estate agent and tell them to hand the keys over to the buyer.

Lead the Purchasing Process 

The buyer’s conveyancer or solicitor will also help coordinate a good time for settlement on the allotted day. The conveyancer will contact your bank to ensure that your funds are in place to pay the vendor, book settlement, and provide the bank with any necessary cheque details. If you are holding the funds yourself, you need to bring these to the conveyancer at least 24 hours before the settlement date to ensure enough time. The conveyancer will then contact the seller’s real estate agent and direct them to give you the keys, and they’ll tell you when the home is ready.

These tasks can be complicated for buyers and sellers to complete independently. By using a conveyancer or conveyancing solicitor, the process can be streamlined. 

Compare real estate agents’ fees and services upfront at LocalAgentFinder to find the right agent, and contact LAF Conveyancing to take care of your conveyancing needs.

Conveyancing Fees

The fee for the conveyancing services provided by a solicitor or conveyancer will usually depend on the cost of the property, as well as any additional tasks that need to be completed, such as arranging finance and dealing with title searches.

Influences on conveyancing fees:

• The cost of the property
• The company or individual you hire
• The complexity of the transaction
• Local fees and taxes that may apply that may vary by state
• Additional services required, such as finance or title searches.

It is essential to be aware of the fees charged by your solicitor or conveyancer before you hire them, and this will help ensure that you only end up paying what is necessary for their services. It is also a good idea to compare fees between different solicitors and conveyancing lawyers before hiring one, as this will ensure you get the best value for your money.

LocalAgentFinder Conveyancing 

Buying or selling a property is an exciting time, but it can also be stressful. LocalAgentFinder supports you through this process with our LAF Conveyancing services. Whether you are buying or selling property, LAF Conveyancing ensures that the conveyancing process runs smoothly and that everything is taken care of.

FAQs

How do I find a good conveyancer?

The best way to find a good conveyancer is to do some research.

1) Check reviews and ratings online, ask friends and colleagues or your local real estate agent for recommendations, and compare the services available in your area.

2) Make sure to choose someone who is experienced in selling property and has a good reputation. You should also check to see if they are registered with the relevant governing body in your state.

3) Interview different conveyancers to understand better the service they provide and to ensure that you have someone knowledgeable and reliable.

Researching your options beforehand is the best way to find a good conveyancing team for your property purchase or sale.

Why do I need to work with conveyancing lawyers?

Conveyancers and solicitors are extremely important to the real estate process, as they can help ensure everything runs smoothly and efficiently. They provide valuable legal advice, which is essential when signing a contract of sale or arranging a settlement on a property.

Conveyancers and solicitors also have an array of knowledge when it comes to taxes and local laws, which can help protect you legally if any issues arise during or after the sale.

They can provide expert advice on all matters relating to buying, selling and settling your property and make sure you have all the necessary documents. With the help of a licensed professional, your property transaction will be completed in a smooth and stress-free manner.

How do I learn more about property law for my state?

To better understand property law in your area, you should contact your local solicitor or conveyancer to discuss any questions or concerns. They will be able to provide specific information about the laws that apply in your state and how they could affect your property transaction.

What legal documents do I need?

The documents required for your property transaction depend on whether you are buying or selling and the property type.

Generally, you will need to provide a contract of sale, an information memorandum and a transfer document. Your solicitor or conveyancing lawyer can help you complete these documents correctly.

Your conveyancing lawyer will then lodge legal documents and advise when the transfer of title is registered.

The legal documents are essential as they record the rights and obligations of both parties involved in the transaction, so they must be accurate and up-to-date.

By following these steps, you can ensure your property transaction runs smoothly and that all documents are completed correctly.

What do I need from my bank or financial institution when selling?

When selling a property, it is essential to make sure you have all the relevant documents from your bank or financial institution. This includes loan statements, final payments, account details, settlement agreements and discharge forms. With these documents readily available, you will ensure a smooth and timely settlement of your property transaction. Your conveyancing lawyer will be able to help you with the full scope of the legal process and all the relevant paperwork.

Are there any other fees or taxes that may apply?

In addition to the fees charged by your conveyancing lawyer, there may also be local fees and taxes that are applicable in your state. These may include stamp duty, transfer duty and land tax. Your conveyancer should be able to provide you with advice on the additional costs that apply to your property transaction and advise you of any government incentives or discounts that may be available. 

Overall, having a professional conveyancing lawyer on your side can make sure all parties involved in the transaction are protected. By researching and asking questions beforehand, you can find a reliable conveyancer that meets your needs and get the best out of your property transaction in a stress-free and efficient manner.

Contact LAF Conveyancing on 1300 09 09 36 for all of your conveyancing needs.