What is Conveyancing and How Does it Work?

While at first, you were very excited about the prospect of buying a home for the first time, you now realise there is more to it than what you have been expecting all along. The fun part was visiting prospects and filling your mind with choices. However, right after you finally pick one from all those options, now comes the more tedious part of the process. You see, there are so many formal and legal things to cover, and to make things a lot easier, you must think about getting conveyancing services Adelaide.

Both buyer and seller in a real estate transaction benefit from hiring a conveyancing expert who in turn helps smoothen the process in its entirety. There are so many legal jargons to deal with, and unless you are an expert yourself, you obviously could use the help. The truth is there is no law requiring you to engage a conveyancer; it is just that conveyancing services Adelaide, in general, will help breeze through property agreements which otherwise are challenging for an average person.

Conveyancing is the process of transferring the ownership of a legal title of a particular property from one person to another. An entity can substitute the word “person” in this transaction. For the most part, a conveyancing transaction involves three distinct stages: before the contract, before the completion, and after completion.

The conveyancer, meanwhile, is the licensed and qualified individual who carries the responsibility of providing advice and information with regards to the sale of the property. He or she is also accountable for preparing the documents needed and in the conduct of the settlement process.

In Australia, conveyancers do not necessarily have to be a licensed lawyer or legal professionals. In many instances, solicitors perform a conveyancer’s work. In fact, the terms “conveyancer” and “solicitors” are the same thing in many respects.

In general, you need the expertise and professional skills of a conveyancer in the following transactions:

  • When you are purchasing or selling the land or any other type of property
  • When you plan on subdividing land
  • When you are updating a title, like in the case of registering the death of the original owner
  • When changing, removing, or recording an easement

If you are a buyer of land, the conveyancer prepares, lodges, and clarifies legal documents for you, which typically includes a memorandum of the transfer, contract of sale, and more. Furthermore, the conveyancer also researches the property, focusing on the certificate of title, checking for easements, and gathering critical information. Conveyancers likewise calculate the adjustment of taxes and rates and settle the property on your behalf.

As for the seller, conveyancing services include ensuring legal documents get completed and representing the seller about answering queries and requests from the buyer.