Expertise In All Aspects Of Conveyancing Law

What is conveyancing ?

Frequently Asking Questions about conveyancing

Q. What Is Conveyancing

A. Conveyancing means all activity in relation to Real Estate or transactions of a business.

  • Purchasing a Real Property  (land, house, farmland, house and land package, industrial properties and business premises)  from one person to another
  • House and land package
  • Sale of property to another,
  • Transaction between wife and husband
  • Registering a CAVEAT encumbering ownership
  • Some activities related to mortgage and lease,
  • Encumbering property ownership
  • Removal of encumbrance
  • Registration of subdivision or any other activity relating to family issues
  • Changing legal ownership consequent to death of one party
  • land, house, farmland, house and land package, and change. 

Q. Who is the conveyancer?

A. The conveyancer is a professional who is authorised to handle the legal process in land transactions or transferring businesses from one person to another.

All conveyancers are specially trained and qualified professionals.

Q. What is the difference between a Conveyancer and Solicitor?

A. Conveyancer is a licenced person to practice in the real estate transaction. However, Solicitor is a person who can practice not only in Real Estate transactions but also in any other legal matters such as going to court and representing on behalf of a client, including real estate disputes.

  • Is choosing a solicitor for conveyancing work more expensive than choosing a conveyancer?
  • Not really. Depending on the individual, the conveyancing fee may be varied. This means that some conveyancers may be more expensive than a solicitor. It is a good idea to discuss with the individual before you engage with them.

However, choosing a solicitor may be more advantageous for obtaining legal advice on complex issues.

Contact us for more information at: https://melbourneinternationallawyers.com.au/index.php/contact-us/

 

Steps to follow purchasers:

  • Have pre-approval for finances unless you buy cash in hand.
  • Search properties of your choice and within your budget.
  • Engage a Conveyancer for title advice, preferably engage a Solicitor if you would be concerned about any legal issues.
  • You are entitled to ask for the Vendor’s Declaration (s.32 declarations) and a copy of the draft contract.
  • Read carefully and understand if the property and the contract terms are within your appetite. Advisable to have read them and take legal advice to avoid potential pitfalls.
  • Be careful when the selling agent encourages you to make a small payment and sign the contract. The agent may advise that you have the right to cancel the contract within the cooling-off period if you don’t like it. It is not always the case, and you may be liable for payment upon cancellation even within the cooling-off period.
  • A building and pest inspection of the property is an option. Keep in mind the cost of the building inspection report. Also, consider that you may only be eligible to cancel the contract if only the building inspector reports a major structural defect.
  • You also may discuss with the selling agent how you would pay the deposit, usually 10%.
  • It is advisable to include terms in your contract, inserting the period you would pay the deposit and the period you will get the loan approval.
  • Please remember to get your finance approval before the final date of finance being approved.
  • Should you have any issue getting the finance approved on or before the due date, do not hesitate to discuss with your conveyancer for option. Remember, there may be a delay if you do not follow up with your broker and bank. You will need to get consent from the vendor for an extension of time to get finance approved. Had you not taken the vendor’s consent, your contract may become unconditional, meaning you can’t get off from the contract but continue. If you cannot fulfil the conditions, you will likely lose your deposit.
  • Do not be hasty to sign the contract because once you sign, you are entitled to demand only within the property as it was. This means you have no right to demand to rectify any defective you late found.
  • We, therefore, advise our client to have a careful second inspection before entering into the contract.   

 

Examples to inspect:

Working conditions of all electrical appliances, missing parts of the bathrooms and water leaks, state of the garage (most of the garages may not be visible because they are covered with loads of rubbish or furniture, etc. ). Check whether everything is in working order as they appear)

  • You are not entitled to demand or claim after completing the title settlement.
  • Check if there are any unauthorised buildings
  • If you have any concerns, do not trust the word of an agent but have them into your contract before e you enter a binding contract.
  • Remember, the purchaser is not entitled to postpone the title settlement until the vendor attends to them.
  • Sign the contract if only all requirements are satisfied.
  • Contact us for more information at: https://melbourneinternationallawyers.com.au/index.php/contact-us/

 

The purchaser at auctions:

  • Further to other advice, firstly, you are not eligible to withdraw from the contract for any reason. This means the contract is unconditional upon you to become the successful bidder at the auction.
  • Make sure your pre-approval is ready in handy, careful not to bid beyond your budget.
  • You will have to pay 10% at the same time as the auction sale. The auctioneer may accept a personal check, bank transfer, etc. However, you may discuss with the auctioneer how you would pay the 10% deposit before you start bidding.
  • Prepare for Settlement and move to your new home or rent your property if the property is your investment property.
  • Contact us for more information at: https://melbourneinternationallawyers.com.au/index.php/contact-us/

 

Steps sellers to follow:

  • Decide when to sell and engage with a Real Estate Agent.
  • Decide it is a private sale or public auction. Your Real Estate Agent will advise you the best.
  • Talk to your conveyancer. Get ready with the Vendor’s Declaration, commonly called the S32 Declaration.
  • You will need to get clear and accurate advice on your obligations and rights from your conveyancer.
  • Get drafted the Contract of Sale; It is vital to insert special conditions to meet your requirements.
  • Your Potential buyer may require a building and pest inspection;
  • Your potential buyer may request a pre-condition subject to a loan being approved.
  • Your conveyancer must cautiously insert stick conditions to make peace of your mind.
  • The contract should be made unconditional to protect the sale.
  • Your conveyancer will act in preparation of legal documents and communication with the purchaser’s conveyancer, your mortgage bank and any other relevant parties.
  • Your buyer may arrange a final inspection and raise concerns over cleaning, damages etc.
  • Remember, the property should be ready for vacation and handover to the purchaser as it was on the day of sale.
  • Remove all rubbish and vacate the property before the final Settlement date.
  • It is the practice of good vendors organising professional cleaners to call the property.
  • Contact us for more information at: https://melbourneinternationallawyers.com.au/index.php/contact-us/

What We Do.

  • Our conveyancers review and advise on the title to our clients free of charge.
  • Our conveyancers and solicitors work together with your Real Estate Agent, broker, bank, accountant and all other related parties to ensure the smooth performance of your transaction.
  • However, remember that sometimes our conveyancers do not have access to some stakeholders due to privacy laws. In those circumstances, you may personally contact them. E.g., the bank may not give us your personal information to us.
  • Our conveyancers and solicitors can offer assistance with property law in the following ways
  • Help you fully understand the issues involved in purchasing or selling property in Australia
  • Assistance with buying or selling at public auction/private treaty
  • Information about the costs involved (including stamp duty)
  • Advice for your Contract for Sale
  • Advice regarding the ‘cooling-off period.’
  • Negotiating terms and conditions for the sale or purchase of property
  • Advice regarding sale or purchase of vacant land, units, strata and owners corporation issues, rural land and purchases’ off the plan.’
  • Advice for meeting lender requirements
  • Arrange title searches and land inquiries
  • Help you with Settlement and exchange
  • Help with the legal requirements for subdivisions and property developments
  • Advice concerning building contracts
  • Advice and negotiation regarding neighbourhood disputes, including dividing fence disputes

Stamp duty  calculator:

https://conveyancing.com.au/aus/conveyancing-calculator

 

 

What We Do....

                                   

                                    Our solicitors can offer assistance with property law in the following ways

  • Help you fully understand the issues involved in purchasing or selling property in Australia
  • Assistance with buying or selling at public auction/private treaty
  • Information about the costs involved (including stamp duty)
  • Advice for your Contract for Sale
  • Advice regarding the ‘cooling-off period.’
  • Negotiating terms and conditions for the sale or purchase of property
  • Advice regarding sale or purchase of vacant land, units, strata and owners corporation issues, rural land and purchases’ off the plan.’
  • Advice for meeting lender requirements
  • Arrange title searches and land inquiries
  • Help you with settlement and exchange
  • Help with the legal requirements for subdivisions and property developments
  • Advice concerning building contracts
  • Advice and negotiation regarding neighborhood disputes, including dividing fence disputes

Conveyancing calculator : https://conveyancing.com.au/aus/conveyancing-calculator

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