What is a conveyancer and why do you need one?

Conveyancing is a vital part of any property transaction.

But what is a conveyancer, what role do they play and why do you need one?

What is conveyancing?

Conveyancing is the process of transferring the ownership of a legal title, such as a house or land, to the new owner.

The conveyancing process is comprised of two stages, including the exchange of contracts and settlement.

This process can be complicated and often requires the assistance of a qualified conveyancer.

A conveyancer is a licensed professional who understands the laws and processes around the sale of a property.

They are specialised to provide advice and information, ensure you meet all the legal obligations involved in your property transaction and protect your rights throughout the process.

What does a conveyancer do?

Conveyancers play a vital role in ensuring the transfer of land process runs smoothly for you.

They work to ensure that there are no inconsistencies in the paperwork that may impact the sale and organise many of the documents needed so settlement occurs as intended.

For a buyer a conveyancer will:

•       Prepare and lodge legal documents on your behalf

•       Research the property and its certificate of title

•       Place your deposit money in a trust account

•       Calculate the adjustment of any rates and taxes

•       Represent you with a vendor or their representative

•       Review the contract of sale and check the terms and conditions indicated

•       Ensuing you’re prepared for critical dates

•       Help with property settlement – including settlement period and settlement day

For a vendor, a conveyancer will:

•       Complete all legal documents including the Section 32 Vendor statement

•       Represent you in dealings with the buyer

Do I need one?

While it is not a legal requirement for a buyer to retain a conveyancer, given the complexity of the legal work, it is highly recommended that you hire a professional to conduct your conveyancing.

Given the short 3-day cooling off period in Victoria, which begins immediately after the buyer signs the contract of sale, it’s recommended buyers enlist the expertise of a conveyancer as early as possible.