What is conveyancing and why do I need it?
Conveyancing is a term that refers to the transfer of ownership of a property - most buyers enlist the services of either a conveyancer or solicitor to handle this process on their behalf.
While you are able to act on your own when making a property purchase, the process of documentation and settling can be complicated - and may seem daunting. Bringing in support from an expert who is familiar with legal documents and legislation can make the process easier.
What does a conveyancer do?
Once you have appointed your conveyancer, they will be responsible for a number of tasks as they help you through the settlement process.
These jobs include acting as a liaison between you and your lender's solicitor, checking your contract of sale, performing title searches and acting as your legal representative for the transaction.
Your conveyancer will also check on a number of important things for you, including whether there are any outstanding rates on the property - such as council rates or water payments. In some cases, your conveyancer will also check over your loan documents for you.
How much does a conveyancer charge?
The cost of hiring a conveyancer can differ from city to city - and even from transaction to transaction, depending on the amount of time and work involved. It is important to enquire about fees before you agree to appoint anyone.
How do I choose a conveyancer?
There are a number of points to consider when choosing a conveyancer.
These include assessing whether they are available to provide the level of service you are looking for and if you can clearly and effectively communicate with them.
You may be looking for a conveyancer who can explain the process to you - particularly if you are a first homebuyer - so it is important to ensure they have time to take you through every step of the process.
You may also wish to consider location - you may want your conveyancer to be locally-based or easily accessible.