Conveyancing

This is the process of transferring the legal ownership of property from one person to another.

You may do this yourself however it is recommended that you use a solicitor or licensed conveyancer to ensure the transaction runs smoothly and you are protected from the consequences of making a mistake.

In choosing a conveyancer or solicitor make sure they have a license and professional indemnity insurance.  Also at this point it is good to get them to give you a breakdown of all costs.

Some of the things done during the conveyancing process will include;

  • Thoroughly checking the Contract of Sale and any off title restrictions and interests. ¬†
  • Applying to local council for a current survey and building certificate if appropriate.
  • Enquire to relevant government departments and authorities about notices affecting the property.
  • Calculating the adjustments for council and water rates prior to settlement.
  • Release deposit to the Agent or Vendor.
  • Checking all documents prior to settlement and attending settlement.
  • Arrange to discharge the vendor’s mortgage.
  • Sort out the payment of Stamp Duty.

Once settlement takes place and cheques are exchanged then congratulations the property is legally yours.