The settlement process is a complex task that involves various financial and administrative duties, handled by a conveyancer. You’ll want to make sure you’ve got a great conveyancer on your side because the process and documentations involved can be cumbersome and complicated. Conveyancing is the process of transferring ownership of a legal title of the land to the new owner, whether it be a person or other legal entity.
A conveyancer is responsible for ensuring the title to the property is transferred from seller purchaser, advising on any legal issues along the way. They can undertake all relevant conveyancing and legal work on your behalf, provide timely legal advice regarding the transfer of title through to settlement.
Selling a Property
When you're selling a property, you are obliged to disclose certain information to the potential buyers in a Vendor Statement or Section 32 Statement. Your conveyancer can assist help to gather all the relevant documents to make sure you've not left anything out that could compromise your settlement. Your Conveyancer will execute the following for you:
Prepare and lodge all the legal documents
Coordinate discharge of mortgage with your bank or financial institution
Organise for the release of deposit to you
Secure title documents from you to effect transfer of it to your buyer
Handle extension requests and other similar communications
Buying a Property
Purchasing properties can be a complex transition. Legal terms in the contract can be hard to understand. Adjustment calculations for the outgoings can be quite complex. The laws regarding stamp duty and taxes are constantly changing. Your conveyancer will handle all the paperwork to do with transfer of ownership for your property and will execute the following
Review, prepare and lodge all the legal documents, such as the contract of sale and the Transfer of Land instrument
Research property titles; check for any third-party rights to enter or use the land, such as easements
Help you understand exactly what you're purchasing
Hold funds on your behalf in their trust account and disburse trust funds according to your instructions
Deal with the vendor and estate agent on your behalf
Deal with your bank or financial institution and coordinate payments at settlement
Your conveyancer will assist you until the keys to the property have been delivered to your hand. They’ve done this several times before, so you can rest easy and trust in the process.
The conveyancer will coordinate a settlement time with the vendor and the buyer and ensure that the transaction goes ahead without any delays. Your conveyancer will also handle financial adjustments, such as clawing back council rates you may have paid in advance.
They will also send you final documents confirming that the property is now registered in your name and notify your local council and water authority about the new ownership. Invest in the right Conveyancer to protect your investment.
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