Buying and selling property is a complex process which encompasses an array of laws and procedures. A conveyancer is someone who completes all the legal steps in the transfer of a property from one person to another. There are many steps involved in the process. Outlined below are some of those steps and considerations which need to be accounted for in this process.
NATALIE DIENER – Property & Development
Associate Solicitor
The Vendor’s conveyancer will:
- Prepare the Contract and Vendor’s Statement based on the information obtained from you and ensure you have fulfilled all your obligations as a Vendor.
- Negotiate with the Purchaser’s conveyancer to ensure the Contract contains the terms as agreed by the parties.
- Review the financial statements and adjustments required for the transfer.
- Work with your bank to ensure that any mortgage is paid out at settlement.
- Direct funds and ensure settlement of the contract is completed.
The Purchaser’s conveyancer will:
- Review the Contract of Sale of Land to ensure that terms agreed by the parties are recorded accurately and that their client’s position, is fairly represented in the Contract.
- Check the property information contained in the Vendor’s Statement
- Make financial preparations and work in with your bank if you are borrowing money to purchase.
- Complete the required documents for the transfer of the property into your name.
If you are thinking of buying or selling a property or are already underway in this process, one of our experienced conveyancers can assist you and answer any questions you have about buying or selling a property.
Originally published in The Guardian Swan Hill 7th September 2024