Do I Need A Conveyancer To Sell My Property?
Selling a property is a legal process and while you are not required to have a conveyancer or lawyer manage the settlement, managing the documentation and settlement of your property sale can be complicated. Having a team of experts familiar with the legal documents and legislation can provide you peace of mind and ensure the process runs smoothly.
Here’s a look at the key benefits of using a conveyancer, their role and how they can help you when selling your property. For more information on the process download our Selling a Property Guide.
Key reasons you need a conveyancer or lawyer
Before we get into the specifics of what property conveyancing is and how to find someone to help you, we want to share the key benefits of having a qualified professional who specialises in property transactions as part of your team. A conveyancer:
- Helps prepare the legal documents such as the Contract of Sale and ensures any special conditions you require are included
- Conducts all the title and planning searches that go into the final statement showing you have met all the disclosure obligations according to your local law
- Manages everything during the settlement process to ensure the sale is legal
- Organises a land survey to ensure the boundaries of the property are accurately represented
- Checks with the local council to ensure your property complies with council building regulations
- They will represent you in dealings with the buyer, help negotiate the terms of the contract and be the liaison between you and the buyer’s solicitor
What is property conveyancing?
Conveyancing is the process of transferring ownership or a legal title of land from one person or entity to another.
A typical conveyancing transaction consists of the following steps:
- Pre Contract – such as preparing your Contract of Sale
- Pre-Completion – such as title and planning searches required by law
- Post Completion – ensuring the keys are handed over to the new buyer
Finding the right property conveyancer for youConveyancing can be done by a professional real estate conveyancer or a solicitor who specialises in conveyancing. If your property sale is fairly straight forward, a real estate conveyancer can provide a thorough service but may be a cheaper option, costing you approximately $450 - $1000. For larger or more complicated property sales, a conveyancing solicitor may be a better option as they have the extensive legal knowledge necessary to handle a wider set of situations.
To determine the level of professional you should employ, think about the detail of your property sale and perhaps discuss it with your real estate agent.
How to find a property conveyancer
Ask your McGrath Sales Agent or other professionals you trust, such as your accountant or lawyer for a recommendation. If they do not have a recommendation, a good place to find someone is the Australian Institute of Conveyancers in your state.
Once you have a short list of prospective conveyancers, give them a call and ask a few questions to find the one you are most comfortable with. Here is what we would suggest you ask them:
- Are you a member of the Australian Institute of Conveyancers?
- How long have you been a property conveyancer?
- What type of properties do you specialise in?
- Do you have professional indemnity insurance?
- How much do your conveyancing services cost and are there any other costs I need to be aware of?
- How do you communicate with your clients and how often?
Before you commit to a conveyancer, do a background check with the Australian Institute of Conveyancers to ensure they are legally allowed to carry out the work and don’t have any formal complaints against them.
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