If you’re considering hiring conveyancing services to help you transfer property for the first time, you might be feeling a bit confused and overwhelmed. The process involves piles of paperwork and legalities, which can often be a source of stress.
This article outlines everything you need to know about the process of getting support.
What does a conveyancing specialist do?
A conveyancing specialist is qualified and trained in handling the legal transfer of real estate between parties. They provide legal advice and legal work to help the transfer run smoothly and without legal issues. You should check that your specialist is licenced via your state’s public register.
They differ from a solicitor in that they specialise in the transfer of real estate, and are not qualified lawyers. A solicitor is a more generalised legal professional. However, it is possible for a professional to be qualified in both.
Some of the tasks they perform include:
- Organising and submitting legal documents and other paperwork
- Researching property and certificate of title
- Putting money in trust accounts
- Providing assistance with property settlement
- Calculating rate and tax adjustments
- Representing buyers with dealers
The cost of conveyancing services will vary depending on the provider. As with everything, however, you should ensure to research providers to get a competitive rate.
Your professional will charge service fees, along with any out-of-pocket expenses such as applying for land certificates. To get an estimate of how much you should be paying, do your research online and/or acquire several quotes. You should expect to pay less than you would with a solicitor.
What the law says
The New South Wales law states that there are three ways to perform conveyancing in NSW:
- By hiring a licensed specialist
- By hiring a solicitor experienced in the field
- By using a DIY kit (note: you will be personally liable for any issues that may arise).
Of course, the law will vary depending on the state.
Deciding if you need help
It isn’t a legal requirement to have a professional help you with your conveyancing; it can simply save you time, stress and costs associated with lacking training. If there are any aspects of property transfer you are unsure about, hiring a professional might be a good idea.
It is advised to hire a specialist before starting the selling process, as they will be able to perform research into your property in order to find things you were not aware of which may affect your ability to sell. This can help to avoid legal liabilities associated with any oversights.
Finding a professional
Finding a professional is easier than ever thanks to technology. There are a number of websites which allow you to browse through a complete list of registered conveyancing specialists in your state. Forums and review websites can also help you make an informed decision, as can asking friends, family, your real estate agent or lawyer for a recommendation.
It is advisable to create a shortlist and interview each candidate to find out more about them and to figure out if they are a good fit for your needs. Make sure to establish whether they specialise in the particular area of property you are working with, as certain professionals may specialise in particular aspects and not others. The professional should also be legally allowed to work and not have any complaints against them.
Conveyancing specialists can help to make the process of property transfer less stressful and more streamlined. Do your research to find out whether a specialist is right for you.