You’ve found your perfect home or investment property, and your offer was accepted! Now what?
Before you can take ownership of your property, conveyancing work will need to be done. This involves transferring ownership of a legal title of land to you, the new owner.
There are three stages to the conveyancing process:
- pre-completion; and
The field is complex, and highly regulated. Using a professional conveyancer will help you successfully navigate the transfer of property, and a Licensed Conveyancer ensures that your rights are legally enforceable.
So, what is a conveyancer?
A conveyancer is a licensed professional – sometimes a solicitor but not always – who specialises in providing advice and information about the sale or purchase of a property.
What will I get from a conveyancer?
The conveyancer will work with you from the beginning of the transaction and will explain the various processes and stages, including what is required of you by State and Federal law.
Most conveyancers will advise on the following:
- Obtaining the instructions to act for you in the transaction
- Reviewing the contract for sale or purchase
- Providing the Client with professional advice as to their rights, obligations, and options on the contract for sale or purchase
- Exchanging the contract of sale or purchase
- Arranging payment of stamp duty
- Checking for outstanding arrears or land tax obligations
- Ascertaining whether any government authority (e.g., local council, water, NSW Roads and Maritime Services) has a vested interest in the land or if any planned development could affect the property and many others
- Conducting searches to reveal information that may not have been previously disclosed
- Calculating adjustments for council and water rates for the property settlement
- Facilitating the change of title with Land and Property Information NSW
- Completing any final checks prior to settlement
- Attending settlement
As the transaction progresses, your licensed conveyancer will advise you on what options you have so you can make informed choices and proceed through to settlement as easily as possible.
What is the difference between using a conveyancer or a solicitor?
A conveyancer is a qualified professional specialising in property transactions, while a property solicitor has a law degree. Conveyances are required to be both licensed and registered and operate under stringent requirements set out by the regulatory body in each State.
At what stage do I contact a conveyancer?
If you are purchasing a property, you should contact a conveyancer as soon as you have agreed on a price with the Vendors (seller). The Real Estate Agent should be provided with your conveyancer’s details so the contract for sale can be forwarded to them.
If you are intending to sell your property you should contact a conveyancer as soon as you have made the decision to sell as the conveyancer will need to prepare the marketing contract, so the property can be listed for sale.
The Conveyancers Licensing Regulation 2021 replaces the Conveyancers Licensing Regulation 2015 which was due for automatic repeal. The regulation supports the Conveyancers Licensing Act 2003.
Conveyancers disclosure obligations: https://www.fairtrading.nsw.gov.au/trades-and-businesses/business-essentials/conveyancers/conducting-a-conveyancing-business
Alina Cooper is the owner and principal of Complete Conveyancing New England. Having spent her life in regional New South Wales Alina is passionate about country life and what regional Australia has to offer. This made the decision for her to commence her own business in Armidale an easy one.
Her life-long attraction to all things legal led Alina to completion of her studies as a conveyancer and the establishment of Complete Conveyancing New England.