Frequently asked conveyancing questions
Conveyancing is the legal process of transferring the ownership of a property from one person or entity to another. A conveyancer is a licensed professional who can assist you in navigating the legal and administrative requirements involved in buying or selling a property. You may need a conveyancer to ensure that the process is completed correctly and to protect your legal rights and interests.
The length of time it takes to complete the conveyancing process can vary depending on a range of factors, such as the complexity of the transaction and the efficiency of the parties involved. Generally, the process can take anywhere from a few weeks to a few months to complete. If the contract provides a settlement date, all parties work closely together to complete all requirements for the due date.
The costs involved in conveyancing can include a range of fees, such as legal fees, disbursements (such as search fees), and government charges (such as stamp duty). The total cost will depend on the specifics of your transaction.
As part of the conveyancing process, various searches may be conducted to identify any potential issues or risks associated with the property. These may include searches for title, planning and zoning, land tax, and other government and regulatory requirements.
A Section 32 Statement, also known as a Vendor Statement, is a document prepared by the seller of a property that provides important information about the property to the buyer. This may include details about title, zoning, planning, and any other relevant matters. It is an important document because it can help the buyer to make an informed decision about the property.
A Contract of Sale is a legally binding agreement between the buyer and seller of a property. It includes details such as the purchase price, the settlement date, and any special conditions of the sale.
Exchange is the process of formally agreeing to the terms of the Contract of Sale, while settlement is the process of completing the transfer of ownership of the property and the payment of the purchase price.
If something goes wrong during the conveyancing process, a conveyancer can help you to identify the issue and work towards resolving it. This may involve negotiating with the other party, seeking legal advice, or taking other appropriate action.
As a buyer or seller, you have a range of legal rights and obligations that must be adhered to throughout the conveyancing process. A conveyancer can help you to understand these rights and obligations and ensure that you comply with all relevant laws and regulations.
A good conveyancer should keep you updated regularly throughout the conveyancing process, through channels such as email, phone, or mail. They should provide you with timely and accurate information about the progress of your transaction.
If there are delays in the settlement process, your conveyancer can work with the other parties involved to try and resolve the issue. This may involve seeking an extension of time, negotiating a new settlement date, or taking other appropriate action.
No, your conveyancer can handle the settlement process on your behalf and will notify you once the settlement has taken place.