So, You’re Buying a House: How Does a Property Conveyancer Fit In?

Hire Professionals Property Conveyancer from Four Points.

property conveyancing
Finally, you’ve found “the one”: the house you’ve been searching for. You’ve spent hours looking at listings, dedicated your weekends to open inspections, gotten pre-approved for a loan – now you’re finally ready to purchase! It’s an exciting time, but can also be a stressful one, as this is the time that legal contracts and negotiations come into play. For those who don’t have experience buying or selling property, this process can be intimidating. There’s a lot of jargon involved, and many things that need to be considered for the property to successfully change hands. Therefore, it is often advised to engage the services of a property conveyancer who can guide you through the process.

When Do I need a Property Conveyancer?

It’s best to have chosen a property conveyancer before you consider making an offer. It’s important to do your research to pick the right professional for you, and this is not something you want to be rushing to do last minute. It is very handy to have your conveyancer available at all stages of the buying process, as they can make you aware of any hidden fees, as well as your rights and obligations. This takes a lot of pressure off your shoulders during a stressful time – you don’t have to worry about having missed something important, or suddenly be facing paying out a large sum you weren’t expecting to part with.What do they do?To put it simply, a property conveyancer conducts the process of transferring the legal title of a piece of land from one party to another. This however, does little to describe the many complex tasks they undertake on your behalf. Your property conveyancer is involved with all stages of the settlement process. Ideally, they will be available for advice before you even make an offer. During pre-settlement, they will talk to you and perform statutory searches which check for things like a lien or an easement that could affect the sale. They will peruse contracts and other documents related to the deed transfer, ensure that contract conditions are fulfilled by due dates and establish any factors that may affect the contract or fees such as stamp duty (eg; whether you’re a first home buyer.) Your property conveyancer will book, attend and complete settlement with the vendor’s conveyancer, lender and the Lands Titles Office. They receive funds from you for the purchase and certify their transfer along with the transfer of the deed into your name. Post-settlement, your property conveyancer will confirm registration of transfer, as well as preparing a final account that includes all fees payable, and send change of ownership letters to relevant authorities such as community or strata corporations.

How do I pick a Property Conveyancer?

It’s important to choose a property conveyancer very carefully. Ideally you will speak to two or three, let them know what you need from them and ask them questions relevant to your situation. The first question to ask is whether they are a member of the Australian Institute of Conveyancers, which has a strict ethical code for their members. While this doesn’t guarantee that a conveyancer has your best interests at heart, it does mean that they must follow the standards of the AIC to retain membership, which gives you some peace of mind. Members are also encouraged to use language you understand, not bog you down in confusing legal jargon. You will also want to ask about their fee, and what is included in this price. If there are any extra services you need, establish how much they will cost. Make sure you explain to the property conveyancers you interview any limitations or special requirements you have such as a tight budget or time limit, to ensure they can meet these. You can choose to use the same property conveyancer as the seller, however this is not usually advised as the idea is for your conveyancer to represent your interests specifically. For the same reason, it is generally a good idea to look for your own rather than get a recommendation from the real estate agent. Everyone should look out for what’s best for them in the sale of a property!

Conclusion

Having a good property conveyancer gives you peace of mind during the purchase of a property, which is an anxious time – especially if it’s your first! Now you know exactly how they fit into the process, and how to pick a good one! If you’re looking at purchasing a property in Adelaide, Four Points Property Conveyancing feel we can help. We welcome the scrutiny we recommend in this article. It is in our best interest to ensure that we are the right fit for you, as well as yours!