Though hiring a property conveyancer is beneficial for both buyers and sellers of land or property, it is most beneficial for the buyer to use these services. Property conveyancing deals with the process of legally transferring a property title from one party to another. There are many complex steps involved in this process and a lot of documentation that needs to be properly completed, analysed, and filed before the final sale can be completed.
The Conveyancing Process
There are three general stages in the process of transferring property from one party to another that a conveyancing solicitor will assist you through. From the initial stages through the exchange of the finalized contracts, the conveyancing process generally takes about eight to twelve weeks to complete, assuming that no serious complications arise.
In the first stage of the process, your conveyancing solicitor will provide the contract details to the buyer who will need to accept the offer by having the mortgage approved and possibly schedule a survey of the property through their conveyancing professional.
The second stage of the process is carried out by your conveyancing solicitor requesting the appropriate copies of all mortgage offer documentation. A local survey and search of the property or land is conducted during which you will fill out certain documents and forms that will be provided by your conveyancing solicitor.
During the final stage of the process, the conveyancing professionals of both parties will analyse all of the documentation, including the mortgage offer, the contract, and the local search and survey reports. The buyer will review all of this information, and if everything is clear and there are no underlying issues discovered, they will sign the final contract.
Finally, after the sale has been completed, the conveyancing solicitor becomes the first person that both parties will be instructed to contact should any legal issues arise in the future which concern the land or property sold.
Knowledge and Experience
The most experienced property conveyancers are called conveyancing solicitors and need to be licensed by the State Department of Fair Trading in order to offer their services. Standalone conveyancers are licensed, but their scope of legal knowledge and expertise is not as wide as the solicitors’.
When you work with a conveyancing solicitor, you can rest assured that you are in the best hands. Their professional activity is overseen by the Office of the Legal Service Commissioner as well as the Law Society of New South Wales. Conveyancing solicitors work hard to ensure that your assets are protected and that the transfer of property is completed fairly. They analyse every part of the contracts and reports, arrange for financing and payments, including taxes and complete all of the necessary change of title paperwork to be provided to the proper government departments.
Conveyancing solicitors strive to bring a level of specialized representation, communication, transparency, support, and attention to detail to each and every one of their clients. They will be there to assist you throughout the process and beyond, should any outstanding matters arise concerning the property after the transfer process has been completed.