WHAT IS A CONVEYANCER

A conveyancer is a qualified and admitted attorney.

The Property transferring conveyancer takes the responsibility of ensuring that all legal and financial requirements for a transfer are met before lodgement at the deeds office for registration.

The Conveyancer and You

In any single property transaction there are usually three conveyancers involved. At the centre of it all is the transferring conveyancer. Should there be bonds on the property, then the Sellers bank or bond originator will appoint a bond cancellation attorney to look after its interest and ensure it receives payment on registration.  The buyer’s bond institution will also appoint a bond attorney to ensure that all bonds over the property are cancelled before it advances a loan and that it receives the title deeds as security for the loan.

Why do you need a Conveyancer

The conveyancer is responsible for ensuring contractual, financial and financial compliance, for which a high level of responsibility is required.

What are the Costs Involved in Selling/Buying a Property?

There are different costs depending on whether you are selling or buying:

The Seller has to pay the estate agent’s commission (if an agent is involved) on completion. This is deducted by the conveyancer first before the seller receives his proceeds of the sale.  The seller has to pay the costs of obtaining a municipal clearance certificate which can be up to six months of rates and taxes in advance (this is claimed back after transfer). Finally, the seller must pay the cost of obtaining an electrical compliance certificate and a wood borer certificate should one be required.

The Buyer is responsible for paying the costs of the transfer which includes estate duty, deeds office fees and the conveyancing fees. Interestingly, while the seller nominates

the conveyancer to undertake the transaction, the buyer pays. This helps ensure the neutrality of the transferring conveyancer. Conveyancers charge a sliding scale of fees as recommended by the Law Society which depends on the value of the transaction.

What is the Conveyancing Process? (simplified)

    • The agreement or contract (deed of sale) to sell a property which is usually done through an estate agent but may be done privately;
    • Obtaining original title deeds and financial guarantees;
    • Drafting of new deeds of transfer and various transfer documents. The signing of these documents by the seller and purchaser;
    • Meeting certain state and local government obligations, such as obtaining municipal clearance certificates and payment of transfer duty;
    • The simultaneous lodgement of all transfer documents to the relevant deeds office for checking and registration;
    • And then finally, the transfer of ownership.

 




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