What is Conveyancing? Here's The Process Made Simple
Conveyancing lawyers or conveyancing solicitors are a vital part of the property transaction process, yet there is some confusion, as many buyers don’t really understand just what is involved, or what they do. Lets niche it down in simple terms so you know exactly what is conveyancing and what to expect from your conveyancing works.
You’ve finally found your dream home after what feels like 100’s of inspections. It’s is within your budget, the location is perfect, the property ticks all your boxes, plus it’s close to your children’s school, comes with a beautifully landscaped backyard, and more…. You’ve made the offer, decided to sell, so what’s the next step? Choosing the best conveyancing solicitor.
Simply put the purpose of property conveyancing is to transfer the legal title, or ownership of land and any improvements on that land, from one owner to another whether it be a from a person or entity.
When Do Your Property Conveyancing Services Start?
Your conveyance will generally start from the date / time you enter into your Contract. The conveyance process will continue through to settlement of the purchase or sale.
Here’s our guide to What Is A section 32 Statement.
Next comes the vital paperwork, and time for you to find an experienced conveyancing solicitor. The process of settlement is a complicated task including various administrative and financial duties. Sure you can tackle this yourself, but why not save yourself the stress and possible potential costly mistakes, especially if this is a business conveyancing contract.
When you choose the right property conveyancing solicitor to help you, they will advise and help you navigate any potential pitfalls. As we mentioned, you can tackle your property conveyance yourself, it’s not legally required to use an conveyance professional.
However for a reasonable fee you can have someone act on your best interests so you spend time to focus on the fun parts, making plans, packing and moving.
What is Conveyancing? Here's The Process Made Simple
What happens when searches turn up unexpected issue? Unexpected issues can become complicated and the legal paperwork can become complex. This is why we strongly recommend you choose an experienced professional with a proven record to capably conduct your conveyancing works
As you can imagine transferring any property to a new owner means a lot of work. Generally conveyancing services will consist of 3 stages:
Your conveyancing lawyer will typically do everything necessary to ensure you are fully prepared for key dates during the conveyancing works process.
Your conveyancer also is in regular contact with the other sides lawyers negotiating the crucial nitty gritty issues.
Yes, you can save a few hundred dollars doing it yourself by spending hours filling out all the forms to save on conveyancing costs.
But, can you be certain you are confident all the i’s are dotted and t’s crossed? Afterall, you aren’t an expert and probably don’t fully understand what is conveyancing and the vital nuances.
In the worst case scenario of DIY conveyancing, if something happens to go wrong, you may run the risk of losing the property, forfeiting your 10% deposit. We did say in the worst case scenario….
When you hire the expertise of a licensed conveyancer, if they make a mistake, their professional indemnity insurance covers you.Your conveyancing costs won’t skyrocket and break the budget.
What Is A Licensed Conveyancing Solicitor?
Conveyancers are licensed conveyancing solicitors or lawyers, or licensed conveyance professionals specialising in providing expert advice and information regarding the sale of a property. The property may be a home, apartment, strata title unit, farm vacant block of land or commercial business.
It’s easy to find conveyancing lawyers. Start by searching Google for “conveyancers near me” which will bring up all the closest conveyancing professionals closest to you. Sometimes they will offer fixed price conveyancing. Usually they can give you a very close quote which will dependent on what property searches reveal.
Conveyancers don’t need to be solicitors. They have as much knowledge and expertise.
It’s recommended you choose to hire a conveyancing lawyer when you:
What Does A Conveyancing Solicitor Do?
What is conveyancing? A conveyancer oversees the entire settlement process from start to finish.
On the surface it may appear easy, but behind the scenes the conveyance works take a lot of time. Most sellers and home buyers don’t realise the full amount of detailed documentation and work required in legally transferring a property to the new owner.
If you don’t know how to navigate the process it could take you precious weeks to find and lodge the required legal documents. Of course you have to understand the legalese too.
Let’s take a closer look at what a specialist in conveyancing services does for each party.
From the buyer’s side a conveyancing solicitor does the following:
From the seller’s side, a conveyancing solicitor does the following:
Conveyancing is the exciting final step towards buying your new home, block of land, farm or commercial business venture
How Do I Find An Expert Conveyancing Lawyer?
We strongly recommend you sit down and talk to at least 3 to 5 conveyancers before choosing one to protect your interests during the settlement process.
Start by asking your family and friends if they can recommend a good conveyancing lawyer. Most people have bought and sold a property, or know someone who has, and word of mouth is an excellent way to find the right person. Next you can do an online search using the search term “conveyancer near me”, as well as asking for recommendations from your accountant, real estate agent or lawyer.
Once you have narrowed down your list of prospective conveyance professionals, take a few minutes to give them a call, have a friendly chat and ask a few questions. Ideally you hire a house conveyancer you feel comfortable with, one that meets your needs. You’ll also find some conveyancers will only specialise in different types of property real estate which may help to narrow your search.
Once you decide you’ve found a conveyancing lawyer you feel confident with, run a basic security check on the business. This way you can quite easily check they are properly licensed to carry out the work. Plus, it’s wise to check their history in Google search and read customer reviews and see if complaints have been made against them.
As we mentioned, licensed conveyancing solicitors can often offer fixed price conveyancing, providing the conveyance searches don’t find any issues. Conveyancing fees will vary depending on the type of property transfer for example a home, farm or commercial business. It’s also best not to go with the cheapest option. You may not get the best conveyancing service you need for your needs!