fbpx
Previously known as Think Conveyancing
Home>Need to know>Why conveyancing is important when buying in VIC

Why conveyancing is important when buying in VIC

conveyancing in Victoria

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 of conveyancers are experienced, reliable, and backed up by a team of lawyers. That means you’re 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 and Vendor Statement

Before you sign on the dotted line, we recommend you get a review of your contract of sale and vendor statement. 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 to minimise potential issues later on.

Our lawyers can guide you through the terms of the contract and can give you advice on any special conditions, which means no nasty surprises like finding out the previous owner is going to take all the light fittings when they go!

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 property. So, to help you be sure you’re buying the right property we recommend getting a 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 for. Searches are also checks with local councils and authorities about the zoning of the building, body corporate or strata information, title and heritage listings, copies of the property plans and any major construction projects (like a highway being built nearby). While these are usually included in the vendor statement, updated searches are often needed closer to settlement to make sure the rates and charges are up to date. Without searches, you won’t know whether you’re making a good investment or a terrible decision.

Settlement

Settlement is where everything comes together. There is quite a lot of paperwork to file, a lot of money changing hands, and several people to be kept in the loop such as the real estate agent, the seller’s conveyancer and banks. One 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 it more convenient for you we use PEXA which allows settlement to happen electronically for all the parties involved and allows for fees to be paid automatically. All this work helps to get you a step closer to settling successfully and on time.

To summarise, conveyancing isn’t just something that happens in the background when you buy a property, it’s what makes buying your property possible! From a contract review, to searches, and reaching settlement – conveyancing is the essential behind-the-scenes work. Which is why you need the right people by your side to complete the purchase 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.

Settlement day – what do you need to know?
Settlement day – what do you need to know?

Settlement is the day where everything comes together Settlement is the day you’ve been waiting for. You might not have heard the word many times before now, but trust us, this is your big moment. Settlement is the finalisationof the sale. This is your ‘signed,...

read more
Conveyancing.com.au is digital and convenient in TAS

Welcome to the future of conveyancing Conveyancing is complicated, but we’ve worked hard to make it as simple as possible for you. We’re experts in buying and selling property and land so let us look after it all for you. We're a digitally lead company, continually...

read more
Why conveyancing is important when buying property in NSW

  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...

read more

Categories

Related Posts

Stamp Duty NT
Stamp Duty NT

If you’re looking to buy a property in the Northern Territory, you’ve probably heard people talk about stamp duty, also known as transfer duty. But what is it, and does it apply to you? Simply put, stamp duty is a tax we pay when buying a house. The NT Government...

read more
Stamp Duty ACT
Stamp Duty ACT

If you’re looking to buy a property in the Australian Capital Territory, you’ve probably heard people talk about stamp duty, also known as transfer duty. But what is it, and does it apply to you? Simply put, stamp duty is a tax we pay when buying a house. The ACT...

read more
Stamp Duty Tasmania
Stamp Duty Tasmania

If you’re looking to buy a property in Tasmania you’ve probably heard people talk about stamp duty also known as transfer duty. But what is it, and does it apply to you? Simply put, stamp duty is a tax we pay when buying a house. The Tasmanian government charge a...

read more