What exactly is conveyancing?
Conveyancing is the term used to transfer the ownership of a property from one person to another. Sounds simple right? Well there is actually quite a bit to it and if it is not done right, there can be dire consequences.
While do-it-yourself conveyancing kits are available, they generally provide guidance material only. If things don’t go to plan, you will be personally liable, and it is likely you will have to engage a lawyer to clean up the mess at the end.
Generally, we will undertake the following tasks in a conveyancing transaction:
- calculate the key dates under the Contract
- arrange searches (eg. title searches and searches of government departments and local authorities)
- advise on the terms of the Contract
- prepare and certify the transfer documents
- stamp the transfer documents
- calculate the adjustment of rates, taxes and other outgoings
- prepare settlement statements
- liaise with the other side’s solicitor regarding the conditions of Contract and Settlement
- advise you on your obligations under the Foreign Resident Capital Gains Tax Withholding regime
- liaise with banks and brokers; and
- attend Settlement on your behalf.