The job of a conveyancer is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process, which typically goes through these 6 steps:
· The contract of sale
This is generally prepared by the sellers’ agent. The
buyer’s conveyancer reviews the contract and negotiates any changes before both
parties sign and a deposit is paid.
· Searches and inspections
The buyers’ conveyancer will typically order inspections and
Property searches. The buyer’s
obligation is not fixed until all the contract conditions are satisfied.
· Pre-settlement Preparation
A conveyancer will keep the buyer informed of costs and
miscellaneous charges throughout the process
· Settlement Day
The conveyance will accompany you at the settlement. Buyer
and Seller exchange legal documents and the remaining purchase price paid.
Final adjustments are made for any taxes, rental fees and release of existing
· Post Settlement
The buyer’s lender will notify relevant authorities of the
change in ownership and lodge transfer documents with the Land Titles Office.
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Friday, 27 September 2019