Properties on the Sunshine Coast are selling fast right now. This makes conveyancing more important than ever. But what exactly does the term mean, and why do you need a conveyancer?
What Is Conveyancing?
Legally speaking, conveyancing transfers the ownership of a property from one person or entity to another. Conveyancing oversees the correct and timely completion of each step of the transaction from offer to settlement.
It typically covers 3 phases:
It’s essential that all stages of the process are completed correctly, and by the given deadlines. Failure to do so could result in the contract becoming void, the sale falling through and your deposit being lost.
What is a conveyancer and what do they do?
A conveyancer is a trained professional who can provide help and advice on all aspects of buying and selling a property, and will ensure your property transaction runs smoothly.
You may be tempted to save money by doing the conveyancing yourself, but the process is complex and time-consuming. Any mistakes along the way can cost more to fix than using a conveyancer from the outset. While not legally required when buying or selling property, having a conveyancer on your team will help you avoid potentially serious problems. And should your conveyancer make a mistake, you are covered by their professional insurance.
A conveyancer can assist you through the buying or selling process, giving advice and taking any necessary actions required to complete the transaction.
For buyers they will:
- check the contract
- conduct any necessary searches
- assist with property checks such as building and pest reports
- communicate with other parties involved in the transaction
- liaise with the bank to facilitate the financing arrangements
- calculate any adjustments or payments required at settlement
- coordinate and attend the settlement on your behalf.
For sellers they will:
- complete the legal documents
- represent your interests in any interactions with the buyer’s team.
In short, your conveyancer will make sure your rights are protected throughout the process and that all the legal requirements are met.
How do I find the right conveyancer?
Start by doing some research. Speaking to a range of conveyancers will help you find the right fit. Look for local conveyancers online, and ask your network for recommendations. Once you have a shortlist, make sure they are all trained and accredited. In Queensland, you can check the Queensland Law Society for information on conveyancers in our region.
Some key questions to ask:
- What types of property do you specialise in?
- What do you charge, and what is included in this price? Is anything extra?
- How long will the settlement process take?
Not all conveyancers are also solicitors. Conveyancers are trained and accredited and have a high level of expertise in their field. Solicitors can give advice on matters of property law or the terms of your contract, and they can help if a legal dispute arises. The best of both worlds is a solicitor who specialises in conveyancing.
At Cameron Rogers & Co, our team of experienced conveyancers have overseen thousands of successful transactions. Contact us now on 07 5445 1213 or book a consultation through our website to find out how we can assist with your property transaction.