Ep 1 – Conveyancing
Conveyancing process explained:
What is conveyancing?
Conveyancing involves legally transferring home ownership from the seller to the buyer. It starts when your offer on a house is accepted and finishes when you receive the keys.
Who does the conveyancing?
A conveyancer is a licensed and qualified professional whose job it is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process.
What a conveyancer does?
The most common reasons you would engage a conveyancer is when you are:
· buying or selling a property
· subdividing land
· updating a title (i.e. registering a death)
· registering, changing or removing an easement
Conveyancers can be engaged by a seller to prepare the vendor’s statement and other legal documentation, such as the contract of sale. They can be engaged by a buyer to check the vendor’s statement, advice on the terms and conditions in the contract of sale and conduct searches.
How to find a conveyancer?
You can find a good conveyancer by talking to your family and friends, most people in this country now have bought or sold a property at some stage. Chances are you’ve got family or friends that have bought and sold property in the past. They would have had to hire a conveyancer or solicitor and will have feedback on whether they were good or not. Another way to find a solicitor or conveyancer is to look at online services. There are many online services that offer you free quotes for conveyancers or solicitors. If you have no luck online ask your real estate agent or other professionals you trust, like an accountant or lawyer.
Your appointed conveyancer will then draw up a draft contract or terms of engagement with you, setting out their charges and deposits required. It is important to use a licensed conveyancer or solicitor and it is a good idea to obtain a number of quotes. There are no set fees for a conveyancer or solicitor but when engaging with legal property services, the lowest price is not always the best service. To find a licensed conveyancer in Victoria, visit the Australian Institute of Conveyancers and select the Victorian Division for further information.
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