Conveyancing is a legal process that transfers the title of a property from one person to another.

A Licensed Conveyancer has undergone education and training that prepares them to help people like you to buy and sell their properties. A Licensed Conveyancer also holds Professional Indemnity Insurance so you know that you’re protected.

One of the biggest financial decisions you’ll probably make in your life is the decision to buy or sell property. It can be a complicated transaction and even the smallest mistakes can end up being quite costly. A conveyancer will help you protect yourself and your assets by making sure your property is transferred in line with the law. Conveyancers focus solely on helping people with their property transactions, which means they’re experts in this area.

When you purchase a property, you may have the right to change your mind within five working days in certain circumstances. This gives the buyer time to reconsider in case they made the decision too quickly, need to arrange finance, or want to have building or pest inspections completed.

If the buyer is able to terminate the contract and decides to, they may be required to pay 0.25% of the purchase price to the seller.

Disbursements are expenses that may be incurred while helping transfer the title of your property. These are necessary and may include things like the cost of searching for a certificate from a government authority.

Your conveyancer will calculate any financial adjustments before settlement. These may include things like outstanding water bills, land tax, council rates or body corporate fees. The amount of these outstanding fees are often paid by the seller at the time of settlement to make sure that the buyer isn’t left to pay them after they take ownership of the property.

Yes, in the three days before settlement the buyer has the right to inspect the property. To do this, you need to speak to the real estate agent.

Settlement is the day where the sale or purchase is finalised. This is a busy day as it involves several different people all making sure that everything has been done properly so the property can be legally transferred over.

There are usually four different people involved in the settlement process – the seller’s conveyancer, the buyer’s conveyancer, the seller’s bank or lender and the buyer’s bank or lender. The buyer and seller don’t usually need to attend settlement. Once everyone is happy that all the documents are correct, they will stamp them and then the buyer’s lender will give the money for the purchase based on the advice of the buyer’s conveyancers. The seller’s lender will discharge the seller’s home loan. Once everything has been completed, the real estate agent will ring up the buyer and tell them to come and collect their keys.

If one of the parties isn’t ready to settle, the other party can issue a “Notice to Complete”. This tells the other party that they have 14 days to settle the property.

If the seller is not able to settle on time, the buyer may be able to cancel the contract and possibly get their deposit back. They may also be able to ask the Court to give them possession of the property.

If the buyer is not ready to settle, the seller may be able to charge the buyer interest each day settlement is delayed. The amount that can be charged will usually be outlined in the purchase contract. If the property hasn’t settled within 14 days of the Notice to Complete being issued, the seller can keep the deposit and put the property back on the market.

The conveyancers will make sure the transfer of title is properly registered. Once this has happened, the council and water utilities will be automatically told who the new owner is. The buyer will need to notify electricity, gas and any other services that they need to change the owner.

A seller is responsible for the property until settlement. From the settlement date, the buyer is the owner and responsible for insuring the property.