Aside from legally transferring ownership, conveyancers can help you to identify and avoid potential problems with a property and help protect your rights during the transaction.
A conveyancer has a vital role in the transaction and a good conveyancer is invaluable as they work behind the scenes to manage all aspects of the property transaction. A good conveyancer will also be available throughout the day and will be able to explain the conveyancing process in a way you can easily understand.
What does a conveyancer do?
A conveyancers responsibilities include:
Conveyancers prepare and manage the legal documents such as the contract of sale, transfer documents, and mortgage agreements. This is a fundamental part of their role.
Conveyancers conduct thorough research on the property. This involves checking for easements, title searches, certificates and any other information that might affect current or future property rights.
Conveyancers oversee the financial transactions involved in the conveyancing process. This includes managing the deposit, calculating adjustments (like council rates or water rates), and ensuring correct disbursement of funds at settlement.
Liaison and advice
Conveyancers act as a liaison between various parties involved in the property transaction, such as real estate agents, lenders, and other legal representatives. They also provide advice and information to their clients about the process and any potential issues.
They coordinate the settlement process, which is the final stage where the property ownership is officially transferred. This involves ensuring all parties are in agreement, all necessary documents are prepared and signed, and that funds are correctly transferred.
Conveyancers ensure compliance with all relevant laws and regulations. This includes adhering to state-specific legislation and guidelines in NSW.
After settlement, conveyancers assist with post-settlement activities such as registering the change of ownership with the NSW Land Registry Services and ensure all final paperwork is completed.
Avoiding common legal pitfalls
The conveyancing process (the legal aspects of buying and selling property) can be extremely complicated. A licensed conveyancer can help you to identify and avoid potential problems with a property and help protect your rights during the transaction.