What does a conveyancer or conveyancing lawyer do for the buyer?
The legal process of transferring ownership of a property on the register or certificate of title from one person to another is conveyancing. The transfer of ownership of the property to you in exchange for payment of the purchase price is called settlement.
Conveyancers and lawyers work behind-the-scenes to prepare the legal documentation and coordinate the conveyancing process to ensure that the transfer of ownership to you is successfully completed. When you enter into a Contract of Sale this is a legal document and there are financial consequences if you don’t comply with the terms and conditions and this the where a lawyer will help and advise you.
Lawyers acting for you ensure the conveyancing process runs smoothly to settlement and they advise and act to protect you as the buyer. This includes:
- Ensuring that the seller has the right to sell the property and checking that there are no encumbrances on the title that would prevent the transfer of ownership to you;
- Performing a careful pre-contract review, which includes a review of the unsigned contract used to purchase the property and the sellers’ property disclosure statement (known as a section 32 statement), to identify if there are an risks attached to the purchase or if any terms of the contract require amendment to better protect you as the buyer;
- Providing you with detailed advice in relation to the contract and section 32 statement so that you have a clear understanding of your rights and obligations regarding your purchase and any risks that you need to be aware of;
- Communicating with you and guide you on every step of the conveyancing process so that you are well informed about your responsibilities as a buyer from day one;
- Preparing in advance all the necessary legal paperwork and electronic records to prepare for the transfer of ownership;
- Ensuring that any unpaid rates and outgoings against the property are paid by the seller by the date for settlement, so that any outstanding rates and outgoings do not roll over to you after settlement;
- Equating and notifying you of your share of the rates and outgoings payable at settlement for the during of time that you will be the owner for in the financial year of settlement;
- Providing you with a breakdown of the additional amounts payable by you at settlement in addition to the purchase price, such as stamp duty, title registration fees, bank fees and conveyancing fees; and
- Coordinating the conveyancing process with other parties involved, such as incoming lenders, outgoing mortgagees on the sellers’ title, the seller, the selling agent, etc, by liaising with these parties to ensure that they are ready in a timely manner to facilitate a smooth settlement without last minute hiccups.
- Overseeing settlement occurs so that you are able to be the registered owner of the property.
Beyond this conveyancing lawyers handle any issues that arise along the way. We ensure that you understand your rights and responsibilities under the contract of sale and are protected along the way.
Our lawyers are skilled in conveyancing, property and litigation and our team are capable of handling small to large complex matters and disputes.
We focus on providing concise advice with commercial understanding so that our clients have the best representation at all times.
Speak to one of our lawyers about your conveyancing matter on 1300 907 335 or complete an online enquiry form and we will be in contact with you shortly.