Why you need to hire a conveyancer

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Conveyancers are experts in property law and transferring ownership. Not only do they help buyers and sellers with the transaction process, they help clients understand their legal rights and obligations to secure a deal that suits your needs.

It’s not a legal requirement to hire a conveyancer during the home buying or selling process, but they should make the process easier. They help you prepare and submit the right documents, and ensure you understand the Contract of Sale terms and conditions.

Both buyers and sellers benefit equally from hiring a conveyancer. Whether you need help with drawing up documents, reviewing the Contract of Sale, or making sense of confusing legal jargon – a licensed conveyancer can guide you through the whole process.

But what does a conveyancer actually do during the buying and selling process? And how do you know which is the right provider for your circumstances? Let’s take a look at what to expect when buying or selling your property.

Conveyancing for Home Buyers

Sale signs in Melbourne

As a buyer, you should hire a conveyancer to review the terms and conditions in your Contract of Sale before it’s signed. Conveyancers can also prepare transfer documents to ensure the process is done legally and reflects the specific laws of your state or territory.

Being informed on your legal rights and obligations will help you avoid signing a bad deal. A conveyancer will advise you on your legal rights and obligations, including the consequences of any special conditions in the contract.

For example, the vendor may have certain conditions regarding the subdivision of land, the ownership of pets or exactly how the sale will proceed. It’s up to you to decide whether these conditions need to be negotiated in order to reach an agreement that’s mutually fair.

Need help talking to the bank? Your conveyancer can help you through this process by arranging a settlement with the bank, submitting title details and preparing mortgage documents.

Conveyancing for Home Sellers

Want to avoid the stress of preparing a Contract of Sale that meets your wishes and complies with state or territory law?

Don’t worry – a conveyancer has your needs covered. They’ll listen to your requests and incorporate your special conditions into the Contract of Sale. With expert knowledge of property law, they’ll ensure the contract is fair and legally binding to reduce the risk of conflict later on.

Do you need to give information about the property that wasn’t specified during the building inspection? Your conveyancer can prepare a Vendors Statement (Section 32) on your behalf to include any details the buyer should know about:

  • Mortgage Details
  • Covenants and Easements
  • Local Council Zoning
  • Declaration of a Bushfire Prone Area
  • Other Crucial Details

Leading up to the settlement, your conveyancer will also arrange a suitable time for the settlement and liaise with the banks, lawyers and conveyancers in the other party.

How Much do Conveyancers Cost?

Calculating Costs

All property transfers are different. The initial fee you pay for a conveyancer will depend on the service provider and the complexity of your property transfer. Obtain a number of quotes and look for service recommendations to choose one that’s right for you. But what is the average cost of a licensed conveyancer?

For a basic conveyancing package with title searches, planning documents, council building certificates, council rates and settlement fees; you can expect to pay anywhere from $500 to $800 or more. If the Vendors Statement is up-to-date and has all the necessary certificates, a full conveyance packaged may not be needed.

If disbursement costs are not included in the conveyancer fee, you will the additional cost of:

  • Title Searches
  • Council Rates and Water Searches
  • Planning Searches
  • Roads and Land Tax Searches
  • Heritage Listed Searches
  • Drainage Diagrams
  • Local Council Building Certificates
  • Settlement Fees
  • Stamp Duty and Transfer Fees

What Next?

Whether you’re buying or selling property, this major decision can be made hassle-free with the advice and support of a licensed conveyancer. There are many provider on the property market who offer similar services and choosing the right one can be challenging.

By understanding the needs of your property transfer and settling on a reasonable budget, you can avoid the risks associated with DIY conveyancing and find a property expert who will guide you in the right direction.

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