Conveyancing is the process of transferring the ownership of property from one person to another. A conveyancer is a licensed and qualified professional who can:
- provide information and advice about the sale or purchase of property
- prepare legal documentation for property transactions
- represent either the vendor or the buyer during the settlement process.
What a conveyancer does
A conveyancer will:
- prepare and clarify legal documents, such as, contract of sale, memorandum of transfer
- conduct research about the property and its certificate of title – eg checking for easements, type of title
- represent you in preparing for and during settlement
- place and hold deposit money in a trust account
- calculate the adjustment of rates and taxes when buying or selling a property
- liaise with the vendor or buyer’s conveyancer over settlement arrangements
- contact you to advise when settlement or subdivision is complete
- contact your financial institution, if applicable, regarding how and when the final payments are to be made and received
- negotiate offers on your behalf with a vendor or their agent
- lodge all necessary documents with the relevant agencies.
While you are not legally obliged to engage the services of either a conveyancer or solicitor if you intend to sell or subdivide a property yourself, you must:
- prepare all legal documentation
- make sure you fully understand all relevant legislation and regulations that apply
- be aware of the requirements of all other agencies that may need to be involved – eg your local council.