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CONVEYANCING AT A FIXED RATE:
- Free initial legal advice on S32 and your contract terms.
Frequently Asked Questions
At Melbourne International Lawyers, we understand that the process of conveyancing can be complex and daunting. To help you navigate this crucial step in property transactions, we have compiled a list of frequently asked questions to shed light on the subject.
What is Conveyancing?
Conveyancing encompasses all legal activities related to real estate or business transactions. It involves the transfer of property ownership, including buying, selling, and transferring property titles. Conveyancing also covers activities such as mortgage and lease transactions, registering caveats, subdivision registrations, and addressing family-related issues.
Who is a Conveyancer?
A conveyancer is a specially trained and qualified professional authorised to handle the legal aspects of land transactions or the transfer of businesses from one party to another. They possess in-depth knowledge of property laws and regulations and can provide expert guidance throughout the conveyancing process.
What is the Difference Between a Conveyancer and Solicitor?
While both conveyancers and solicitors can handle real estate transactions, there are slight differences in their roles. A conveyancer specialises in real estate transactions and is authorised to practice solely in this area. On the other hand, a solicitor can handle various legal matters, including real estate transactions, court representation, and other legal disputes.
Is Choosing a Solicitor for Conveyancing Work More Expensive?
The conveyancing fee may vary depending on the individual professional. Some conveyancers may be more expensive than solicitors. It is advisable to discuss the fee structure with the conveyancer or solicitor before engaging their services. Choosing a solicitor may offer additional advantages, particularly when it comes to obtaining legal advice on complex issues.
Steps to Follow for Purchasers:
- Obtain Pre-Approval for Finances: Unless you are buying with cash, ensure you have pre-approval for your finances.
- Search for Properties: Explore properties within your budget that meet your requirements.
- Engage a Conveyancer or Solicitor: Seek the assistance of a conveyancer or solicitor for expert advice and guidance throughout the process.
- Understand the Contract: Carefully review and understand the property and contract terms before signing. Consider seeking legal advice to avoid potential pitfalls.
- Conduct Inspections: It is advisable to arrange a building and pest inspection before proceeding. Pay close attention to the property's condition, including electrical appliances, bathrooms, water leaks, and the garage.
- Financing and Deposit: Discuss payment arrangements with the selling agent, including the deposit and loan approval period.
- Finalize Finance Approval: Ensure you receive finance approval before the specified deadline. Communicate promptly with your broker and bank to avoid delays.
- Sign the Contract: Sign the contract only when all requirements are satisfied and you are confident in the property's condition.
Steps to Follow for Sellers:
- Engage a Real Estate Agent: Decide when to sell and seek the assistance of a reputable real estate agent.
- Consult with a Conveyancer: Discuss your obligations and rights with a conveyancer to ensure a smooth process.
- Prepare Legal Documents: Work with your conveyancer to draft the Contract of Sale, including any necessary special conditions.
- Property Presentation: Ensure the property is ready for inspection and all rubbish is removed before settlement.
- Finalize Settlement: Coordinate with your conveyancer, purchaser's conveyancer, mortgage bank, and other relevant parties to facilitate a successful settlement.
- Post-Sale Requirements: Address any final inspection concerns and vacate the property as agreed upon.
At Melbourne International Lawyers, our team of specialists offers expert services with a fixed professional fee. What's more, we understand the financial aspect of the process, which is why we provide the convenience of not having to pay upfront. Instead, we recover our fees directly from your bank, making it easier and more accessible for you. With us, you can experience peace of mind knowing that you're receiving top-notch conveyancing assistance without the burden of immediate upfront payments.
Disclaimer: This blog post is intended as a guide and does not constitute legal advice. For information tailored to your specific situation, please consult with a professional.