What is Conveyancing?
20 July 2020
If you’ve never purchased a property before, you might not know what conveyancing is or what a conveyancer does! But, you will no doubt require their important services when it comes time to purchase your perfect block of land, home or house and land package.
What is conveyancing?
Conveyancing is the legal process of transferring the ownership of land from one person to another. Conveyancing usually takes place between the property vendor (the person selling) and the property purchaser (the person buying) who enter into a Contract of Sale for a residential property. The residential property can take a variety of forms, including vacant land, a house, a unit, an apartment, a home and land package, or a townhouse.
What does a conveyancer do?
They are legal professionals who assist with all the necessary aspects of purchasing property or land. Conveyancers understand the most up to date property law so they will be able to provide you with the best legal advice. First home buyers should find a conveyancer they can trust because they’ll be helping you from start to finish.
When you’re buying a house, a conveyancer will help you:
- Review legal documents, including the Contract of Sale and Section 32
- Place your deposit into a trust account
- Assist in negotiating the final terms
- Walk you through the final steps of the settlement process
There are many steps involved in conveyancing, including laws, timeframes, finances, government requirements and fees to work through. Navigating all this can be an emotional and stressful experience for first home buyers. After all, buying your very own home is an exciting but daunting process. But, the role of the conveyancer is to make the process of purchasing your new dream home as smooth as possible.
The importance of a qualified conveyancer
The conveyancing process is complex in nature, so it’s important to find a qualified conveyancer to act on your behalf. Having someone who is experienced and knowledgeable means you’ll likely avoid any potential pitfalls in the conveyancing process.
A qualified conveyancer has to have three things: a valid Conveyancers Licence with a practising certificate, they must be a member of the Australian Institute of Conveyancers and they must have professional indemnity insurance. When it comes to selecting a conveyancer, engaging one who knows their stuff will certainly make the purchase of your new home as smooth as possible.
Still have a few questions about buying land or house and land packages? Our team is here to help you out with any other questions that you may have on your way to your new home at Riverhills. Give us a call on 0437 197 404 or book an online appointment with our estate manager Santo today.