What do conveyancers do?
Buying your dream home is never as simple as swapping a bank cheque for the keys and moving in. Transferring ownership is a long process involving lots of legal regulations and paperwork. Trying to manage it all yourself can lead to expensive complications, such as delaying the settlement date or even a breach of contract.
Conveyancers are licensed professionals who specialise in the legal side of property transactions. Whereas a real estate agent can help you find your new home, a conveyancer manages the actual transfer of the property’s title. Their main role is the preparation, verification, and lodgement of the required legal documents.
Whether you are buying or selling a property, you need a conveyancer to help you navigate the settlement process. Ownit has assembled this guide to explain in simple terms what conveyancers do and why their expertise is so important.
What is conveyancing?
Conveyancing is the legal process of transferring ownership of a property from one person to another. There are numerous legal documents that must be completed by both the seller and buyer before a property transaction can be finalised. This process is managed by a professional conveyancer.
A conveyancer is there to advise you of your rights and responsibilities and deal with any legal issues that may arise from the property transfer. They will review the contract of sale, conduct vital searches on the property, and prepare and lodge legal documents with the relevant authorities to ensure a smooth transaction.
Conveyancing essentially allows a buyer to check that the property they are paying for is exactly what they expected. For example, a buyer needs to know if their new home is subject to any restrictions on use or outstanding rates. Conveyancing also allows the seller to transfer the property title knowing that they will receive the full purchase price and won’t be exposed to claims from the buyer after settlement.
How does the conveyancing process work?
Conveyancing starts with the owner and buyer entering into a contract of sale which sets out the terms for the property transaction. Transfer documents are signed and exchanged before a cooling off period which allows either party to withdraw from the sale if their conveyancer finds any serious issues. The conveyancing process ends with the settlement when the title is legally transferred for the agreed purchase price.
It may sound straightforward, but hefty work is often required towards completing property ownership transfers. Conveyancers have the skills and expertise to manage these complex tasks. Both the buyer and seller will need their own conveyancer to represent them during the settlement process. Your conveyancer will prepare you for every critical date and ensure that your rights and interests are fully protected.
Why do I need a professional conveyancer?
Conveyancing is a critical step for any real estate transaction to verify that the ownership transfer is done correctly. However, you need a strong understanding of property law to successfully manage the necessary processes and legal documents.
Both solicitors and licensed conveyancers hold the requisite legal qualifications to manage the conveyancing on your behalf. You also have the choice of doing your own conveyancing when buying or selling property using a DIY kit. Conveyancing kits are the cheapest option, but you take on the responsibility for any mistakes.
Every property is different and the complexity of the conveyancing may depend on the property type, value and location. Conveyancers are experienced in this highly specialised legal work which means they are more likely to spot any issues. You’re also covered by their professional indemnity insurance should they make a mistake.
Using a professional conveyancer is the best way to ensure the transfer documents comply with the relevant legal regulations. You can trust that the property title will be transferred to the new owner on settlement day without any complications.
Where can I find a conveyancer?
The professionals at Ownit have been offering expert property conveyancing services in Queensland and Victoria for more than 40 years, helping thousands of people every year with our low, fixed rate guarantee.
We have an experienced legal team to guide you through every step of the process when transferring a property. We also provide fixed fee quotes so there are no hidden surprises, ensuring a seamless and stress free conveyancing transaction.
We take pride in our exceptional customer service with affordable conveyancing solutions in Gold Coast, Brisbane, Logan, Ipswich, Springfield and surrounding areas in Queensland, as well as Melbourne, Geelong and all areas in Victoria.
Many things can go wrong with property transactions. If it does, you need to know that you are in the care of an experienced law firm with specialist conveyancing services. No matter your circumstances, our team is equipped with the right skills and knowledge to provide professional support. Contact us today for a FREE quote!