Conveyancing is a term that refers to the legal and administrative process related to the transferring the ownership of buildings or property from one owner to the next. As a rule, this is overseen by a duly licensed solicitor or conveyancer. With this in mind, you can search the internet to find a conveyancer who specialises in transferring real estate by using search terms such as “conveyancing Australia” or “licensed conveyancers” for more information and to obtain quotes as well.
What conveyancing involves
The process begins when an offer is made and then accepted for a given property, and both parties have exchanged their solicitors’ details. If you participate in a private sale, conveyance will start when your conveyancer or solicitor examines the contract provided by the seller’s representative. Your representative is obliged to check the details contained in the document to ensure that it does not contain anything that would hinder the purchase or planned use of the property, including title restrictions or zoning regulations that are applicable.
A typical conveyance done by a licensed conveyancer or solicitor should take from 4 to 6 weeks. Firms generally provided fixed-price services for approximately $1,000, and they usually include legal advices, property searches, and related expenses. Note, however, that such a service does not always include every search that is needed in order to complete the conveyance process. It is a good idea to obtain a “firm quote” before you obtain the services of any professional to act on your behalf.
Throughout Australia, the average conveyance generally includes title searches, ensuring that any stipulations contained in the contract are carried out, determining if there are any restrictions or encumbrances on the property, ensuring that land tax, rates and water-consumption costs are paid properly, preparing legal documents, and settling the payment of various charges and fees.
As a rule, title searches are the most time-consuming part of the conveyance process. Since Australia has three levels of government, it must be determined that the transfer of property is done correctly, and this requires a great deal of research to obtain the information that is needed.
Handling the process yourself
You can also do the conveyancing on a do-it-yourself basis, but the process is time-consuming, and the risk in assuming that responsibility is considerable. While there is expense involved in using the services of a professional in transferring ownership of property, it is a wise investment because it will enable you to complete the sale successfully and settle any problems that may arise, which is essential. Kits are also available for buyers who want to complete the conveyance themselves, but since state and local laws are so varied and complex in Australia, this is generally to be avoided.