Welcome to the first in our series of “What Do They Do?” where we explain why you need the team of professionals who will assist you with buying and selling property.
Once you sign a Contract of Sale, your real estate agent will ask
for your conveyancer. A conveyancer is a licensed and qualified professional
who can:
- provide information and advice
about the sale or purchase of property
- prepare legal documentation for
property transactions
- represent either the vendor or the
buyer during the
settlement process.
Conveyancers are not legal
practitioners, but conveyancing work can be undertaken by solicitors. It is
strongly recommended that you engage professionals due to the complex legal
nature of the work involved. Conveyancers will:
- prepare
and clarify legal documents, such as, contract of sale, memorandum of
transfer
- conduct
research about the property and its certificate of title - eg checking for
easements, type of title
- represent
you in preparing for and during settlement
- place and
hold deposit money in a trust account
- calculate
the adjustment of rates and taxes when buying or selling a property
- liaise
with the vendor or buyer's conveyancer over settlement arrangements
- contact
you to advise when settlement or subdivision is complete
- contact
your financial institution, if applicable, regarding how and when the
final payments are to be made and received
- lodge all
necessary documents with the relevant agencies
Your conveyancer should look over all
your legal documentation during the “cooling off” period (which in South
Australia is two full clear business days after the Form 1 documentation has
been issued) and advise you of any concerns.
Besides buying and selling a home, a
conveyancer can also assist with land subdivision and also updating name
details on the certificate of title of a property you already own eg. after a
divorce, death or a marriage.
It is so important to find a good conveyancer. Ask friends and family for recommendations, or even ask us! We work alongside conveyancers every day and will happily refer a list of reputable businesses in our area. If you need any assistance with choosing a conveyancer, please do not hesitate to contact us.
(08) 8251 3249
info@spartners.com.au
