What is Conveyancing?
Conveyancing is the method of transferring the title and use of real property from one party to another. Whether you are a purchaser or vendor, you will agree on the terms of the transaction and your legal representation will ensure that this agreement takes effect and is sufficiently documented.
When would I need a Conveyancing Lawyer?
You should get a conveyancer involved as soon as a price discussion begins.
Imagine this - you get your pre-approval for your first home and after months of endless Saturday morning property inspections you finally decide that you have found your perfect place. You fire in an offer. The real estate agent accepts it. What now? Surely you just sign on the dotted line!
Unfortunately, buying a property is not that simple and engaging an experienced property lawyer to act on your conveyancing is the best investment for your investment! Contracts for sale of land are lengthy technical legal documents with repercussions.
Your conveyancing solicitor has many roles but some of the most fundamental that they will do is review the contract and:
Make sure you are buying what you think you are buying;
Make sure that where possible the conditions of the contract are beneficial to you, particularly in respect of minimisation of damages if there are delays with your bank;
Make you aware of any tax issues that may arise, concerning one or more of the following: stamp duty, land tax, goods and services tax, capital gains tax and income tax;
Organise and arrange settlement with your bank and the vendor;
Make sure that the property complies with various laws.
If you are a vendor, it is a sound investment to seek conveyancing guidance if you are selling your land. Your real estate agent could end up charging you huge commissions to carry out the transaction. Paying an experienced property lawyer a small fraction of that cost to ensure that you are adequately protected in your sale is another sound investment. They will have extensive knowledge of the laws that pertain to your particular state or territory.
Your conveyancing solicitor will mainly support you with:
Drafting the Contract of Sale (to include ownership details, the title details, the conditions of the sale together with exactly what items are included in the sale), Vendor’s Statement and Certificate of Title
Ensuring you are meeting further legal obligations if applicable (e.g. tenancy agreements)
We have the capacity to conduct matters electronically via PEXA (Property Exchange Australia) – a certified property exchange software - which is a fast, reliable and secure way to carry out the buying or selling of your property.
VRT Lawyers has 30 years of conveyancing experience. We work for both purchasers and sellers, and it is our mission to help you achieve your goals and relieve stress. Your property solicitor may just save you thousands of dollars and it is wise to have experienced legal representation to adequately protect you - especially if your transaction was to become litigious.