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5 ways a conveyancer helps you when buying a property.

5 ways a conveyancer helps you when buying a property.

May 26, 2022

Buying a property is one of the most important financial, and emotional, transactions of your life. It can also become time-consuming and confusing, even for the experienced property investor.

I’m Jess a lawyer at Conveyancing Depot and here are 5 ways we help clients navigate the conveyancing process.

1. Firstly, we can provide contract advice.

A contract of sale is easy to get into, but, hard to get out of. That’s why it is important to get legal advice before you sign a contract of sale.

This way you will know if there are any issues with the property, and if any terms or conditions are unacceptable or unfair.

2. Your legal obligations under the Contract

When you sign a contract, you are legally bound.

We explain your legal obligations under the contract.

And checking that dates are not missed, like paying your deposit on time or monitoring finance clauses.

3. Getting the Details Right

Conveyancing is the process of changing property ownership on the title. There is a lot of documentation and details that has to be prepared before settlement. The details have to be right as well.

Conveyancers check all the requirements such as stamp duty, ownership details and ATO forms are all in order for settlement.

4. Manage the parties & Process

Many different parties need to attend settlement. Banks are usually a party to the transaction too.

We coordinate settlement with your bank and with the other side.

Each party has their own requirements for settlement. Your bank is lending money and will want to be able to lodge a mortgage in return.

We coordinate with all the parties before settlement to make sure they have everything I need (in order to) to settle.

5. Settlement

Finally, at settlement monies will be changing hands, this includes money for rates and taxes. Each party has to pay for their share of the rates and taxes at settlement.

This is calculated in the statement of adjustments.

Your conveyancer will prepare the statement of adjustments when you are buying a property.

As the new owner will be responsible for all the rights in taxes we want to make sure the vendor pays for their share.

How we help property purchasers

In conveyancing there are many moving parts and different parties that we manage so you can settle on your property.

You want to be informed and up to date about the progress of your matter.

We work hard to ensure that issues are pre-empted and your matter runs smoothly.

And, if a problem does develop, we are well skilled at negotiating and settling matters quickly.

The best way to start is to speak to one of our team members.

We can provide you with a fixed fee quote and answer any questions about conveyancing you might have.

Disclaimer: This article has been prepared for general information purposes and may not apply to your situation. This information should not be relied upon for legal, tax or accounting advice. Your individual circumstances will alter any legal advice given. The views expressed may not reflect the opinions, views or values of Conveyancing Depot and belong solely to the author of the content. © Conveyancing Depot Pty Ltd.

If you require legal advice specific to your situation please speak to one of our team members today.

About The Author

Jessica is an experienced conveyancing lawyer and has enjoyed helping many clients buy and sell...