Property markets across Australia are booming in 2021, with real estate clearance rates strong in both Melbourne and Brisbane. If you have made the jump into home ownership for the first time, you might be wondering what conveyancing is and whether you need to hire a conveyancer.
In a legal sense, a conveyance is the legal process of transferring real estate from one person or entity to another. A conveyancer is a licensed professional who is able to provide legal advice to guide clients through the process of buying or selling real estate, as well as assisting by creating and verifying documentation relating to the transfer of property ownership. Conveyancing can be performed by a solicitor or a licensed conveyancer.
In what situations do you need to hire a property conveyancer?
It’s advisable to hire a conveyancer or solicitor to guide you through any transfer of property ownership. This includes when buying or selling real estate, as well as circumstances when property ownership is transferred between family members or when submitting a plan of subdivision for a property. Other situations in which a conveyancer can assist clients include when selling or buying a business, or for issues relating to wills, leases or power of attorney documents.
Are you looking for a conveyancer in Melbourne or Brisbane?
Choosing the right conveyancer can be tricky. How do you know who to choose? It’s worth taking your time to ensure you choose a conveyancer who has the necessary experience, qualifications, as well as locational knowledge. Here are some points to consider when hiring a conveyancer to guide you through your transfer of property ownership:
– It’s always a great idea to check that your conveyancer is qualified and experienced;
– It’s advisable to use a conveyancer who works locally to where you are buying or selling property. A local conveyancer will be more likely to know the area well and be familiar with local planning regulations and restrictions;
– Ask your conveyancer if they’re a member of the Australian Institute of Conveyancers. The AIC is the national body that represents licensed and employee conveyancers. Members of the Institute have the highest level of training and support available to them;
– Conveyancing fees can vary, so it’s important that you ask for a quote to check that your budget will cover the cost of hiring a conveyancer. Ask whether your conveyancer can provide a breakdown of fees and charges as well as confirming whether there are likely to be any additional charges that will have to be paid after settlement;
– If you are able to, it’s worth asking for recommendations or looking for positive reviews when it comes to hiring a conveyancer; and
– Enquire about what kind of property the conveyancer generally specialises in to ensure you are hiring someone who has expertise with the kind of property that you are selling or buying.
Check here for more information about Jim’s Conveyancing Brisbane, or for expert advice on property conveyancing services in Australia, please contact their friendly and experienced staff on 13 15 46.
What does the conveyancing process involve?
It’s important to have at least a vague idea of what the conveyancing process entails. There can be considerable work involved in the legal transfer of a property title, from preparing and verifying paperwork to conducting relevant research. Property conveyancing can vary between Australian states and territories, so it’s important that if you’re buying and selling in Melbourne to hire a conveyancer based there, and likewise if you’re buying or selling in Brisbane, choose a conveyancer with experience working there. As to what work the conveyancer will perform, the role includes undertaking the following tasks:
– Verify that the title has been obtained and has been checked;
– Ensure that the person or entity selling a property has the right to do so. This sounds obvious, but it isn’t out of the question for a husband or wife to try to sell a property after a separation without obtaining the proper permission, in which case your purchase could end up being invalid;
– Checking that any structural alterations have the necessary permissions and ensuring any planning permissions and building licenses have been obtained;
– Carrying out local authority searches and ensuring there are no debts against the property;
– Reviewing the lease and its clauses if applicable;
– Creating a contract of sale;
– Registering the title in the new owner’s name after the sale of the property has been completed;
– You can also request that your conveyancer confirms whether a property is prone to flooding, erosion or whether the site used to be used for industrial purposes, or whether there are any planned developments in the area.
Check here for more information about Jim’s Conveyancing Melbourne, or for expert advice on property conveyancing services in Australia, please contact their friendly and experienced staff on 13 15 46.Sydney Unleashed is one of Australia’s premier entertainment publications exploring the latest in lifestyle trends. From Sydney’s finest restaurants, cafes and bars to the hottest in gadgets, products, and home entertainment, Sydney Unleashed is your one-stop lifestyle platform.