What is conveyancing?

If you’re diving into the world of property buying, you’ve probably come across the term “property conveyancing” and wondered what it really means. Don’t worry, you’re not alone. Conveyancing might sound a bit daunting, but it’s a crucial part of the home-buying process.

Let’s break it down.

Conveyancing is the legal process of transferring property ownership from one person to another. It’s the series of legal steps needed to ensure that when you buy a house, it legally becomes yours. This process involves everything from checking property details to making sure all legal documents are correctly handled.

Why is conveyancing important?

Buying a home is one of the biggest financial decisions you’ll ever make, and engaging a competent professional conveyancing service provider will ensure that everything goes smoothly and legally.

Conveyancing helps to:

Confirm ownership: verify that the seller is the rightful owner of the property and has the legal right to sell it.
Check property details: Make sure there are no hidden issues with the property, such as unpaid rates or legal disputes.
Handle legal documents: Prepare and manage all the documents required to transfer ownership.
Secure your investment: Protect your interests by ensuring all legal aspects are in order before you finalise the purchase.

The conveyancing process: what to expect

Here’s a step-by-step guide to what happens during the conveyancing process:

Engage a conveyancer: The first step is to hire an experienced law firm or licensed conveyancer They will guide you through the entire process, handling all the legalities involved.
Pre-contract checks: Your conveyancer will start by reviewing the contract of sale and conducting searches to check for any issues with the property. This might include verifying zoning regulations, checking for any easements (rights to use the property for specific purposes), and ensuring there are no outstanding debts.
Contract exchange: Once everything looks good, your conveyancer will help you exchange contracts with the seller. This means you’re officially committing to the purchase, and the seller is committed to selling. At this stage, you’ll usually need to pay a deposit.
Settlement preparation: In the lead-up to settlement (the final transfer of ownership), your conveyancer will prepare all necessary documents, liaise with your financier, calculate the final amount due, and arrange for the transfer of funds.
Settlement day: On settlement day, the remaining balance of the purchase price is paid to the seller, and ownership of the property is transferred to you. Your conveyancer will handle the final paperwork and ensure that everything is legally completed, including ensuring that the necessary documents are lodged with the Land Titles Office to update the property register with your details as the new owner.
Post-settlement: After settlement, your conveyancer will notify the agent so that you can obtain possession of the property, and also notify the local council and water authority of your acquisition of the property.

Tips for a smooth conveyancing experience

Choose wisely: Work with a conveyancer who is experienced and understands local property laws. Recommendations from friends or family can be helpful.
Stay informed: Keep in touch with your conveyancer and ask questions if you’re unsure about any part of the process.
Prepare documents early: Gather all necessary documents and information in advance to avoid delays.

Conveyancing might seem complex at first, but understanding its role in the home-buying process can help you feel more confident. With the right conveyancer by your side, you’ll have expert support to guide you through each step, ensuring your property purchase is smooth and hassle-free.

If you have any questions about conveyancing or need assistance with buying a home, don’t hesitate to reach out. We’re here to help make your property journey as enjoyable and stress-free as possible.

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Written by APS Senior Law Clerk, Fedela Liuzzi

Fedela is our talented Senior Law Clerk who joined us back in 2018, bringing with her over two decades of experience in the legal field. Fedela shines as a key member of our team, especially known for her skills in managing our client’s Probate and Conveyancing needs. She takes on a wide array of tasks, ranging from witnessing and signing wills and powers of attorney to engaging with clients, drafting essential legal documents, and expertly handling PEXA transactions. Fedela is pivotal in making our processes as clear and smooth as possible, always ensuring that each of our clients feels supported at every stage of the process. When she’s not in the office, Fedela treasures the time spent with her loved ones. She’s all about the joy of discovering new shopping finds, savouring exquisite dining, and embarking on adventures to new places.