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Why conveyancing is important when buying property in NSW

Why Conveyancing Is Important

 

Conveyancing is complicated but put simply it refers to everything that needs to be checked, searched, signed, and certified to make you the new legal owner of a property. Our team specialises in conveyancing and are experienced, reliable, and backed up by a team of lawyers. That means youre in good hands, no matter how complicated things get.

Our team has all the knowledge and experience to help you with the three main phases of the conveyancing journey.  

Contract  

Before you sign on the dotted line, we recommend you get a review of the contract for sale. The contract is the foundation of the agreement between you and the seller. Sellers and agents have their own interests in mind, so let us step in and negotiate your best interests. We’ll make sure everything is in order. Our team can guide you through the terms of the contract and can give you written advice on all special conditions. It means no nasty surpriseslike finding out you have to contribute towards the seller’s land tax. No one wants that! 

When you buy a property, it means you accept it in its current condition. This includes any defects you may not have seen when you first visited the propertySo to help you be sure you’re buying the right property we recommend getting building and pest inspection. This will provide a full picture of the property before committing to the purchase. 

Searches

To know the full story about the property you want to buy, you’ll need searches. The most important reason you’ll want searches done is because they can uncover any outstanding debt attached to the property which could be passed onto you to pay forSearches are also checks with local councils and authorities that tell you all the details about the property. They provide information about the zoning of the building, body corporate or strata information, heritage listings, copies of the property plans and any major construction projects coming up (like a new highway being built nearby).  

Without searches, you won’t know whether you’re making a good investment or a terrible decision. Finally, in this phase the title deed is transferred into your name properly and legally so you’re the official new owner. 

Settlement

Settlement is where everything comes together. Therea lot of paperwork to file, money changing hands, and several people who need to be kept in the loop. Such as the real estate agent, the seller’s conveyancer, insurers and the banksOne of our team members will be your representative to all these different people. They’ll make sure all the right documents are signed by you and everything is filed correctly to the right government department.  

To make the whole process more convenient for you we use PEXA which allows settlement to happen electronically for everyone involved. PEXA makes it possible to automatically transfer funds into your bank account quicklyIt’s just another way Conveyancing.com.au helps get you to a successful and ontime settlement. 

To summarise, conveyancing isn’t just something that happens in the background when you buy a property, it’s what makes buying a property possible! From a contract review, to searches, and reaching settlement – conveyancing is all the essential behind-the-scenes work. Which is why you need the right people by your side to complete the process correctly and legally. Conveyancing.com.au is here to guide you through that vital work and answer any questions you may have. We’re here to help and make the process as easy as possible 

This article is provided for general information purposes only. Its content is current at the date of publication. It is not legal advice and is not tailored to meet your individual needs. You should obtain specialist advice based on your specific circumstances before taking any action concerning the matters discussed in this article.

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