What You Need to Know About Conveyancing When Selling or Buying Property

If you intend to buy or sell a piece of property, it is a good idea to involve a conveyancer because the process of transferring property ownership is not as simple as it may seem. There are a lot of things that you need to check and documents you need to fill and lodge. If you decide to carry out the buying or selling process without a conveyancer and fail to be thorough, you may end up having problems later on when you find out you have been scammed. You, of course, know that property is not cheap and you want to ensure that your investment is secure.

Who Is a Conveyancer?

This is the person responsible for conveyancing services, or making sure that the ownership of a piece of property is legally and financially transferred from a seller to the buyer. You may not see the importance of a conveyancer, but a look at the duties of a conveyancer will make you know why they are essential.

A conveyancer completes and lodges the necessary transfer of ownership documents with the Department of Land Services. He or she then searches for the certificate of title and finds out from local authorities and government departments whether there may be any concern that would affect the property being sold in the future. Things that could affect the property include caveats and encumbrances.

The conveyancer also enquires about zoning, rates and titles and adjusts the rates and taxes on your behalf. The conveyancer reviews the terms of the contract and ensures they are fulfilled before payment is made. He or she can also liaise with financial institutions to request funds for settlement purposes. You even don't have to be present during settlement, the conveyancer can do that for you as long as he or she keeps you informed.

What Are Some Tips for Choosing a Conveyancer?

Always check whether the conveyancer has a license and other qualification documents like certificates. Proof of qualification is a clear indication that the conveyancer knows his or her legal obligations and responsibilities. If you do not trust documents and licenses provided physically, you can always check your state's government website where conveyancers are expected to register.

If you are a buyer, do not use the same conveyancer with the seller. The same goes for sellers. There can be a huge conflict of interest. If you find a conveyancer willing to serve both you and the seller, avoid them since it is not professional.