If you’re a newbie to the property buying or selling process, you may not be familiar with what a conveyancer do and how he/she can help you with the entire process of buying or selling your property. Conveyancing is a legal and statutory process of transferring the ownership of the property from one person to another (from the seller to the buyer).
Licensed conveyancers are well qualified and experts in property law, they are aware of the obligations and commitments associated with the property transfer. The process and paperwork involved in the property transfer are extremely complex. Hence, it is strongly recommended to avail the service from a licensed, qualified, and an experienced conveyancing lawyer.
A good conveyancer will clearly explain each process and legal terms associated with the property transfer to help you understand what exactly you’re agreeing to. Whether you’re buying or selling a property, you should be aware of the factors that could influence the property such as illegal constructions, government proposals, outstanding rates, etc. On behalf of you, your conveyancing lawyer will conduct the investigation and appropriate searches about the property.
What Does a Conveyancer Do?
A professional conveyancer helps with the process of property transfer and settlements by ensuring that the client is meeting all the legal commitments and responsibilities and the client’s rights are secured during the transaction. No matter whether you’re buying or selling a property, you will need help from conveyancing professional because both the buyer and the seller have certain legal obligations. A conveyancing professional will typically perform the following tasks:
- Writing and Preparing Legal Documents: The buyer will need a conveyancing lawyer to prepare all the property transfer documents such as grant deed form that ensure the legal transfer of the property. The seller of the property need a conveyancer to prepare two important documents, ‘Contract of Sale’ and ‘Vendor’s Statement’. Where the Contract of Sale include special conditions preventing potential conflicts. On the other hand, Vendor’s statement makes sure that disclosure obligations and relevant laws are met.
- Giving Legal Advice: For the seller of the property, a conveyancing lawyer informs if any specific conditions need to be enclosed in the Contract of the Sale. These special conditions depend on the circumstances of the seller. In addition, he will give you details about the documents that you need to hand over to the buyer to finish the process of settlement. Property buyer’s conveyancer will give advice regarding the terms and conditions involved in the Contract of Sale and Vendor’s Statement. They will give you detailed information about each clause.
- Arranging Settlements: Arranging the final details of the settlement are one of the major roles of a conveyancing lawyer. He/she will coordinate a proper time for the final settlement. On behalf of property buyer, they will make sure that funds are in place to pay the seller. After the settlement has completed, the seller’s conveyancing lawyer will contact the real estate agent or the seller to hand over the final necessary assets to the buyer.
- Performs Range of Searches: While buying a property, a conveyancer can carry out different searches for you. Some of the popular searches include local authority search, environmental search, and water & drainage search. Local authority search gives information about the upkeep of the road, footpath, and building regulations. Water & drainage search ensures that there is proper supply of water and arrangement of the sewage system in the property. Whereas, an environmental search will provide details about the past use of the property. It helps the buyer to know if there are potentially any costly and dangerous contaminated land concerns or any other environmental risks like the flood.
Apart from the above-mentioned points, a conveyancer can give you a lot more information. By contacting a professional, the process can be done in an efficient way.