Services
Registration of Transfers
​WHAT DOES A CONVEYANCER DO?
As conveyancers we play a very important role in the sale of a house. Both the vendor and the purchaser require conveyancing services as without it, the sale of the property cannot be finalised. For many people, the duties of a conveyancer are something of a mystery. The purpose of this article is to give an overview of the work of a conveyancer and to explain the work that underpins conveyancing fees.
When a person decides to sell their property, they will usually engage a conveyancer or solicitor to perform the conveyancing duties. Typically, the appointed conveyancer will write to the person explaining the duties that they will carry out.
From here, the required conveyancing work really begins. The conveyancer will provide information sheets that detail: fixtures and fittings, property information and/or leasehold. The information that these documents contain underpins and provides substance to the sales contract that is developed for exchange between the client and the purchaser of the property.
The conveyancer will then request and obtain copies of the title deeds for your property from thelands titles office. Unfortunately, this can be quite a long and drawn out process, so it is always an advantage to have copies of your deeds. Being able to immediately provide these documents can hasten the process considerably.
When the conveyancer has the necessary title deeds and land registry details, they are able to develop a draft sales contract and provide it to the conveyancer or solicitor of the property purchaser. This contract will then be given to the purchasers of the property and will be returned together with any questions or queries that may have emerged.
At this stage, the contract can be re-written into a more final form. Your conveyancer will obtain confirmation that the mortgage of the buyer of your property has been approved and arrangements finalised.
Following clarification and/or amendment of any problematic issues that may have arisen, final contracts are provided for signing and a provisional date for exchange is set. This is soon followed by the final stage of the conveyancing process – the swapping of signed contracts and the payment and collection of the buyer’s deposit.
​In summary, a conveyancer will:
• Arrange the necessary building and pest inspections
• Should the property be part of a strata scheme, examine a strata inspection report
• If necessary, arrange finance
• Examine and exchange the contract of sale
• Ensure that the deposit is paid
• Arrange for the payment of stamp duty
• Develop and analyse the mortgage agreement
• Complete the necessary checks regarding outstanding arrears or land tax obligations
• Ascertain whether any government authority has a vested interest in the land
• Ascertain whether there are any planned developments that may affect the property (including: local council, water authorities, roads and traffic authorities)
• Investigate whether any information may not have been previously disclosed (for example: a dispute over a fence or non-regulation building work)
• Examine water and council rates and adjust as necessary, ready for settlement
• Oversee the change of title with the appropriate land and property body
• Complete final checks
• Attend settlement on your behalf.
There can be a marked difference in the conveyancing fees charged by different individuals and companies. Before work commences, it is vital that you have a realistic quote that itemises and details how much the conveyancer’s services will cost you.
Another Service
​Generally, conveyancing fees are made up of a legal service fee and‘disbursements’, which can include:
• Title search
• Certificate fees imposed by authorities with responsibility for services such as water and electricity as well as roads, schools, etc.
• Registration of the mortgage
• Photocopying.
Other costs that may be incurred may include:
• Pest and building inspections
• A survey report
• Establishment of mortgage
• Home/building insurance
• Fees for valuations
• Mortgage insurance
• Stamp duty
• Mortgage duty
• Council and water rates
Conveyancers carry out much important and vital work for the transfer of ownership of properties. As conveyancing fees vary widely, it is recommended that consumers do their research and ensure that they are aware of all costs that may be incurred through conveyancing services.