What is conveyancing?
Conveyancing is the process of transferring the ownership of ‘real property’ from one person to another. A conveyancer is a licensed and qualified professional who can:
- provide information and advice about the sale or purchase of property
- prepare legal documentation for property transactions
- represent either the vendor or the buyer during the settlement process.
Due to the complex legal nature of the work involved, it is crucial to engage a conveyancer as soon as possible if you are planning to:
- buy property
- sell property
- subdivide land
- register, change or remove an easement
- update details on a certificate of title – such as registering a death, changing a name or adding or removing a proprietor
What a conveyancer does
A conveyancer will:
- prepare and clarify legal documents – eg contract of sale, memorandum of transfer
- conduct research about the property and its certificate of title – eg checking for easements, type of title
- represent you in preparing for and during settlement
- place and hold deposit money in a trust account
- calculate the adjustment of rates and taxes when buying or selling property
- liaise with the vendor or buyer’s conveyancer over settlement arrangements
- contact you to advise when settlement or subdivision is complete
- contact your financial institution, if applicable, regarding how and when the final payments are to be made and received
- submit applications to Revenue SA for any grants you may be eligible for – eg first home owners grant
- negotiate offers on your behalf with a vendor or their agent
- lodge all necessary documents with the relevant agencies.
Want to know more? Contact Connolly Wilson Conveyancing today – our advice is free, friendly and focused on you.