Conveyancing 101

Conveyancing 101

Conveyancing is the transfer of legal title of property from one person to another. Both the seller and buyer will engage a conveyancer to act on their behalf, ensuring that the property transaction flows smoothly and that any misunderstandings are addressed.

What Your Conveyancer Will Do

Your conveyancer will manage most of the transaction steps and paperwork for you, including:

• Contract of Sale
• Exchanging Contracts
• Building and Pest Inspections
• Strata Report
• Initial Settlement Statement
• Title Search / Certificate of Title / Transfer of Land
• Identification of Encumbrances
• Stamp Duty Application and Payment / Electronic Advice of Sale (EAS)
• Authority to Proceed to Settlement
• Attending the Settlement

Your conveyancer will also take care of various rates and taxes, including:

• Ensuring there are no outstanding water or council rates.
• Checking for outstanding special government levies.
• Ensuring there are no outstanding strata levies.

Do I Need a Conveyancer or Can I Do It Myself?

Technically, you can do it yourself, but this is not recommended. For the few hundred dollars you might save, the risks and pitfalls are many and can be very expensive. Real estate law and property ownership are highly complex issues. Not adhering to the exact law or making even a small mistake can have serious consequences.

How Much Does a Conveyancer Cost?

Conveyancing costs can vary dramatically, depending on the firm and the services provided. Most conveyancers charge a flat fee plus additional disbursement costs. This flat fee can range from $500 to $2000.

Do You Need to Visit a Conveyancer's Office?

No. Most conveyancers offer digital transactions and the ability to sign paperwork electronically. If needed, documents can be mailed to you. Typically, there’s no requirement for you to attend a conveyancer’s office.

How Long Does Conveyancing Take?

This can vary depending on the terms of the sale contract, but usually, conveyancing services are completed in 4-6 weeks.

When Do You Need to Engage a Conveyancer?

You are best to use a conveyancer for:

• Buying or selling land
• Subdividing
• Registering, changing, or removing an easement
• Updating a title

Note: Laws and regulations regarding conveyancing and the settlement process vary from state to state. Make sure you understand your responsibilities.

Welcome Home

At JKL, we’re here to support you through every step of your property journey. Our experienced team will help you navigate the conveyancing process with ease and confidence.

Experience our JKL Real Estate family. We’ll put the welcome mat out for you!