What Does A Conveyancer Actually Do?
Updated: Jan 11, 2022
ONLINE PROPERTY CONVEYANCING - WHAT DOES A CONVEYANCER DO?
Conveyancing, Selling, Buying and Everything In Between
If you’re new to the property market or are unsure where to start with the purchase or sale of your home, this page is for you. It’s designed to explain the basics of online property conveyancing and help you begin the progress of buying or selling. We understand how daunting this process can appear at first glance; we’re here to help. Before searching ‘property conveyancer near me’, it’s worth understanding the nature of the role. Without considerable legal knowledge and experience, you’ll need a professional to guide you through the process of property ownership. This is where the conveyancer comes in. They’ll help you with everything from contracts, to background checks, and everything in between. Put simply, a conveyancer is responsible for making sure you meet all legal obligations associated with the property in question. It’s also their job to protect your rights and negotiate with your best interests in mind. The scope of the role will vary depending on the specific property and the nature of your requirements. Paperwork When it comes to buying or selling a house, conveyance of the property involves more paperwork than you might expect. This can be prohibitively time-consuming, especially if you’re not experienced in the relevant laws and local restrictions. Good, properly licenced conveyancers can manage this workload for you. Your contracts, applications, and other documents will all be filed error-free and well within schedule. Searches and Adjustments When buying property, it’s important to understand the purchase you’re making. This is where searches come in. Your conveyancer will run all the necessary background checks to make sure you have a clear picture of the property in question. Doing the research before putting pen to paper is vital if you want to avoid disappointment. One thing that many people don’t consider, especially when looking for quick online property conveyancing, is how much money a good search can save. When buying property, any associated negative interest or debt can become your responsibility. Unfortunately, property debt is more common than many new buyers anticipate. Your conveyancer will deal with what’s called a statement of adjustments. In short, this statement is a document that outlines all costs that are the responsibility of the buyer. A good conveyancer will make the necessary adjustments to mitigate or eliminate these costs for you. A robust initial search is the best way to avoid extra costs from debt and taxes. Online property conveyancing with licenced conveyancers can be an excellent way to find the help you need. The following sections will discuss the different searches that may be necessary. Title Searches These make sure the property belongs to the seller and identifies any debts or liabilities related to the property. Local Authority Searches A local authority search checks for development plans in the local area that would affect the property. These could be a planned motorway or apartment complex, for example. Bushfires and Other Risk Assessments It’s important to consider the risk of local bushfires, floods, and similar natural events. Properties in high-risk areas can incur significant maintenance costs. Structural Checks These checks determine the structural integrity of the property and identify areas that may increase maintenance costs. Pest Reports It can be devastating to realise you’ve bought a property with a pest problem. Pest reports catch issues before money has exchanged hands. Strata Checks for Apartments These discover whether the building is running at a deficit and reveals if its income can cover running costs for the complex in question. Conveyance of the Property – Which Searches are Mandatory? This of course will vary from contract to contract, but there are some general rules to keep in mind. Any mandatory searches will be attached to the contract of sale by the seller. If you want to run extra searches, you’ll need to communicate this to your licenced conveyancer. In general, pest and strata searches are not included by the seller. KD Property Conveyancing will let you know which searches best suit your situation. For example, a strata check is unnecessary if you’re buying a house rather than an apartment. Some checks can happen after your offer has been accepted, but we strongly recommend completing title and pest checks before entering into a formal agreement. Sellers – Preparing the Contract of Sale Selling a property legally involves complex documents like a Contract of Sale and Vendor Disclosure Statement. This is where the importance of the conveyancer becomes crystal clear. Only with our experience and training will you be able to make sure the process is handled with the respect it deserves. There’s no room for error when it comes to property sales; a KD Property Conveyancing can help you avoid expensive corrections that arise from unnecessary mistakes. Buyers – Reviewing the Contract of Sale The documents described above are just as important when on the other side of a property sale. Your conveyancer will review the Contract of Sale and Vendor’s Statement, searching for errors and identifying any red flags. Crucially, they’ll also explain all documents to you in simple terms and make sure you understand the agreement you’re entering. Don’t be afraid to ask us for advice, especially if you’re unsure about an aspect of the purchase. Asking questions before pulling the trigger is the best way to make sure you’re making the right decision. It’s easy to feel pressured into making a decision immediately. A good conveyancer will mediate these pressures and provide some much-needed support in what can be a stressful environment. Coffs Harbour – New South Wales If you’re looking for online property conveyancing in somewhere like Coffs Harbour NSW, it’s important to understand regulations that are unique to the area. In New South Wales, property sales are subject to a 5-day ‘cooling off period’ that takes place after signed contracts have been exchanged and the buyer has made their initial deposit. This period gives buyers the opportunity to leave contracts by giving written notice. This incurs a fee of 0.25% of the purchase price. Some searches can be difficult to execute without entering a contract. The cooling off period affords welcome breathing room while you do your due diligence. There are some exceptions and caveats to keep in mind. Section 66W In some cases, a seller may require that a buyer waive the cooling off period by providing a section 66W certificate. After signing off on a 66W, you may not be able to leave your contract without forfeiting your entire deposit. Auction Sales If you purchase property at an auction, you automatically waive your right to the 5-day cooling off period. The best way to approach auctions is to get a copy of the contract in advance and bring it to your conveyancer.
With over 15 years experience in the conveyancing industry, you can rest assured your property matter will be handled with professionalism and Integrity. We are cost conscious and therefore implement a fixed fee structure ensuring you will not have any nasty surprises at settlement. We will communicate with you in plain terms - no legal jargon!