Norton Conveyancing

What Does A Conveyancer Do When Buying A House?

Clients often ask what does a conveyancer do when buying a house and it’s a great question! The conveyancing  process plays a critical role in the process of buying a house by ensuring that the legal aspects of the transaction are properly handled. If you would like to read more about what does a conveyancer do, click here. Their main duties and responsibilities typically include:

Legal Advice and Guidance: A conveyancer provides advice on the contract of sale, ensuring that buyers understand their rights and obligations.

Contract Review: Before you sign any documents, the conveyancer will review the contract of sale prepared by the seller’s solicitor or conveyancer. They look for any unusual terms, check for easements, covenants, and other rights or obligations that might affect the property.

Due Diligence: They conduct due diligence by ordering and reviewing property certificates, which show zoning, planning restrictions, and any other local council issues that might affect the property’s current or future use.

Managing Finances: Conveyancers often arrange for the deposit to be paid and held in trust. They will ensure that all financial transactions are in order, including adjustment of rates and taxes, and ensure correct fund transfers at settlement.

Liaison Between Parties: They often act as a liaison between various parties involved in the property transaction such as real estate agents, lenders, mortgage brokers, and the seller’s conveyancer or solicitor.

Preparation of Legal Documents: They prepare and lodge all necessary documents required by law, such as the Transfer of Land document, which transfers the property’s title from the seller to the buyer.

Settlement: Conveyancers schedule and attend the settlement, where the ownership of the property is legally transferred to the buyer. They ensure that all financial balances are settled (mortgages cleared, funds transferred, etc.).

Post-settlement: After settlement, they typically notify the relevant authorities (like local councils, water authorities) of the change in ownership and ensure that utilities are correctly billed to the new owner.

Stamp Duty: They also assist in calculating, collecting, and lodging stamp duty payments required by the state government, which is a tax on property transactions.

Representation: In some cases, they might also represent you during disputes or negotiations, or in communications with the seller’s representatives.

How To Choose A Professional Conveyancer

Choosing a competent conveyancer can significantly ease the complex process of buying a house. In Victoria, conveyancers require a license to operate legally, ensuring they have met certain educational and professional criteria. They must also have professional indemnity insurance as a safeguard for their clients.

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