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What is the conveyancing process?

September 4, 2012

The conveyancing process differs slightly depending upon your involvement with the property in question. For example, depending on whether you are the buyer, or the seller. If you are a property investor chances are you will get to know a fair bit about the conveyancing process.

In simple terms, conveyancing is the process in which the title of the land is transferred from the previous owner to the new owner. For a seller, this means before they put their house up for sale they need to have a Contract of Sale prepared by a solicitor or conveyancer.

The seller must also provide certain information that will be used during the conveyancing process to ensure the property title is properly transferred and both parties can move smoothly through the ownership transaction.

Conveyancing: The seller

If you are the seller, this is a list of things you need for conveyancing:

  • A zoning certificate – this usually comes from the local council
  • A diagram detailing the sewerage at the property – for example where the sewerage lines lie and when they were implemented
  • A title information folio from the lands title office – owners of homes should receive these when they change hands
  • Documents pertaining to covenants or other restrictions that are placed on the property or land by the land developer or other parties involved in group title ownership or strata titles
  • Copies of all documents so that the buyer or their conveyancer – the seller can keep copies of these documents, but the originals should be passed onto the new owners.

Conveyancing: The buyer

The conveyancing process is slightly different if you are the buyer:

  • Contract of sale – this should be provided at the point of your offer on the home being accepted and should detail things such as the building and pest inspection and finance conditions that the sale depends upon
  • Cooling off information – the buyer needs to ensure there is a cooling off period even after they have signed the contract of sale. Sometimes at a large auction or open house inspection, buyers can make snap decisions about a property that they will later review and regret. There is usually a cooling off period available to buyers to protect them if they make the wrong decision.
  • Transfer documents – the buyer needs to ensure their conveyancer gets their name correct on all title and transfer documents. This will be the name that is recorded as the property owner and the land title office needs to ensure its correct from the outset as when the transaction is complete it is very difficult to change.

The conveyancing process is rather simple, and investors will begin to feel more comfortable with it each time they go through the process. They may even begin to consider a DIY conveyancing on their next property purchase or sale.

We at Conveyancing Solutions provide excellent service to every customer. Please call us @ (02) 9387 2111 or (02) 9572 7400 to get a quote!

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