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Buying and selling land or a home is a complex process. You're likely to need help in the negotiation, pre-contract and post-contract stages as well as with the numerous search, documentation and registration requirements.
A conveyancing lawyer will guide you through the most important steps, ensuring the process is completed as smoothly and as effectively as possible. Read on to find out more.
What's in this guide?
- What is conveyancing?
- What does a conveyancing lawyer do?
- When might I use a conveyancing lawyer?
- Do I need a conveyancing lawyer?
- Where to get a free quote for a conveyancing lawyer
- What does a conveyancing lawyer's service usually include for buyers and sellers?
- How effective is a conveyancing lawyer?
What is conveyancing?
Conveyancing is the legal process linked with the transfer of land or buildings from one individual to another. This process begins when an offer is accepted on a property and ends once all the contracts and payments have been sorted out.
What does a conveyancing lawyer do?
A conveyancing lawyer is a legal professional who advises you on all aspects of the sale or purchase of a property. He or she can also act on your behalf in a property sale or purchase, for a fee. The lawyer works with both individual and corporate parties in a property sale.
Typically, a conveyancing lawyer can help you:
- Deal with all the contracts between the buyer and seller
- Update or register the property with the Land Registry, in accordance with the laws of your state.
- Help with the payment of stamp duty.
When might I use a conveyancing lawyer?
You might use a conveyancing lawyer if you are in the process of buying or selling property or land. Conveyancing transactions are governed by different legislations across Australia's states and territories. These laws establish different requirements for effecting property transfers, some of which you may not know.
While you can complete the conveyancing process on your own, it's unlikely you'll be able to do it as effectively as a conveyancing lawyer. If the process isn't managed well, a problem may arise, such as a boundary dispute with a neighbour.
Do I need a conveyancing lawyer?
That's up to you to decide. However, most buyers do choose to use this type of legal professional for their conveyancing. After all, purchasing a home is one of the biggest financial decision you'll ever make.
An experienced lawyer has handled multiple similar transactions and is less likely to miss something that you may well do, especially given how much is likely to be on your mind while you're buying or selling your land or property.
Where to get a free quote for a conveyancing lawyer
You can source quotes for a conveyancing lawyer from one of the following sites:
Does your company belong in this list?
Here's some more information on some of the leading providers of online legal resources:
- Lawpath. An online marketplace for lawyers, Lawpath grants members who sign up access to its pool of lawyers. Members describe the services they need and lawyers send quotes.
- LegalVision. A private online law firm, LegalVision grants members access to legal professionals and customized legal documents such as contracts for sale.
- State Law Societies. Individual state Law Societies have tools to connect residents with conveyancing lawyers.
What does a conveyancing lawyer's service usually include for buyers and sellers?
For a buyer, this type of lawyer typically:
- Researches the title for a property, in order to check for easements and existing claims
- Facilitate a land survey. This is done to ensure the property's boundaries are well represented
- Organise some mortgage and contract for sale documents
- Check local council building regulations to confirm any structures have been approved in the past.
- Safely keep a deposit in a trust account (if required)
- Negotiate with the seller and agent
- Formally settle the property.
For a seller, the conveyancing lawyer usually provides the following services:
- Prepare a contract of sale
- Complete the legal documents
- Negotiate with the buyer and the buyer's agent
- Facilitate the payment of any taxes.
How effective is a conveyancing lawyer?
Conveyancing lawyers are an integral part of property and land transactions. They take away much of the associated legal risks, giving assurances to both sides that the transaction they are entering into is valid. They also handle all documentation and legal registration work.
As a buyer, this type of lawyer can help you complete a purchase or sale transaction smoothly, giving you the assurance that you are making a sound investment. As a seller, your lawyer can facilitate a quick sale, completing all legal documentation and negotiating all arising issues so you do not have to get bogged down with legal work.
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