Buying or selling a property can be an overwhelming process with all the details that need to be seen to. If you do not adhere to the standard rules, you may land in big trouble.
Approaching a conveyancer is an ideal solution which ensures the entire process is done according to the regulations and you get what is rightfully due to you.
Why a conveyancer
Conveyancing is the name given to the transfer of ownership of a particular property between two individuals. To enable a smooth transfer, licensed conveyancers are necessary. They are property law specialists with professional qualification who guide you on the obligations and liabilities associated with the property. Though direct transfer without a conveyancer is possible, it is not advisable as there is lots of paperwork and details involved, which are highly complicated. A licensed and experienced conveyancer can accomplish the transfer smoothly.
Conveyancer’s Role in the Sale
When you have executed a sale contract, a conveyancer takes care of the following steps.
- Submits the relevant documents to the Land Services department.
- Checks the title certificate and looks for caveats or encumbrances that can affect the sale.
- Enquires about the titles, rates, and zoning requirements.
- Makes adjustments in the taxes and rates.
- Liaises with the financial institutions, the other party’s conveyancer to ensure a smooth settlement and prepares the settlement and attends it in your stead.
Taking Care of Bond Requirements
The conveyancer needs to take care of the cancellation figure, which is the amount requested from a bank for bond annulment. This amount needs to be paid to the financial institution or bank for cancelling or completely paying off the bond. This is not needed in case of absence of outstanding bonds and the title deed can easily be received from property owner from whom you are buying. The conveyancing attorney also ensures that the appropriate guarantees are received from the bank which the buyer is using. He can also take care of the registration of the bond documents and ensure the entire property transfer is done efficiently.
When to approach a conveyancer
It is in the best interest of the buyer to approach a conveyancer well before the contract is signed. The ideal way is to contact the conveyancer when you decide on the selling or buying. A conveyancer will give you all information about conveyancing, so you can be prepared and assured on a successful transfer. You need to ensure everything is according to the legalities, before you sign the contract.
Choosing the Conveyancer
You need to look at several conveyancers, before you choose an appropriate one. By asking the relevant questions regarding the sale, you can know the level of expertise a conveyancer has. The costs involved and the requirements needed should be verified, before you make your choice.
By explaining your requirements and position, you can give information to the conveyancer on the transaction’s impact. Budget restrictions, time limitations or any other particular issues should be explained beforehand, so a smooth transaction is executed without any hurdles.
Author Box:
Arthur Cooper explains the need for appointing a conveyancer for your property issues. Before understanding the needs, he suggests collecting all information about conveyancing to make your process hassle free.