Understanding How Conveyancing Works and Why You Need Conveyancing Solicitors

A lawyer meeting with their clientsOnce you find your dream home, the legal aspect of the property buying process starts. For the buyer and the seller, it is best to hire the services of a conveyancer when going through the process.

While hiring a conveyancer is not required by law, there are many legal jargons to decipher. Conveyancing solicitors in Townsville are well-versed in real estate transactions. They can easily come up with the required sale and purchase agreements.

What Conveyancing Is All About

Conveyancing is the process of transferring legal title ownership on a property or land from one entity or person to another. In general, there are three stages involved in a conveyancing transaction: before contract stage, before completion stage, and after completion stage.

What Conveyancing Solicitors Are

Conveyancing solicitors are qualified and licensed professionals tasked to offer information and advice on property sales, conduct the settlement process, and prepare the necessary documentation. Whilst a conveyancer does not have to be a lawyer, being a solicitor is a big advantage.

Common Reasons to Hire the Services of a Conveyancer

  • Subdividing a piece of land
  • Selling or buying a property
  • Registering, removing or changing an easement
  • Updating a title, such as in the case of death

The Job of a Conveyancer

If you are the buyer, the conveyancer will do the following for you:

  • Draft, clarify and lodge legal documentation
  • Perform research on the property and its title
  • Place the money in a trust
  • Compute for taxes and rate adjustments
  • Property settlement – represent client, advise once the property settlement is done, and contact the financial institution or bank when final payments are made
  • Meet with vendors or agents on your behalf

If you are the seller, the conveyancer will do the following:

  • Ensure that all legal documents are sorted and completed
  • Represent you in all dealings with the buyer

It is possible to go through the entire conveyancing process on your own. But given the complexity of the process, working with a qualified professional can make things less complicated.