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Why conveyancing is important when buying in VIC

Conveyancing can be 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. This protects the new owner of a house from any unwanted surprises, such as tax bills, structural defects, or zoning issues.

Our professional, reliable team of conveyancing specialists is supported by lawyers. That means you’re in experienced hands – no matter how complicated things get.

We have all the up-to-date knowledge and experience to guide you through 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 (Section 32). Sellers and agents have their own interests in mind, so it’s important to have specialised conveyancing experts negotiate your best interests. We’ll make sure everything is in order, guide you through the terms of the contract, and can give you written 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!).

Get a building and pest inspection

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 make the best possible property-buying decision, we recommend getting qualified inspectors to provide a building and pest inspection. This provides a full picture of the property before you commit to buying it.

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 – and that’s debt that could be passed on to you. 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 smart property investment or if you may be at risk of making a terrible property-purchasing 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 financial institutions. One of our team members will be your representative in every interaction with each one of these different people. We’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, including transfer of funds owed to you and fees to be paid automatically and easily. It’s another way Conveyancing.com.au helps you achieve your successful property settlement smoothly – and on time.

 


 

Conveyancing isn’t just something that happens in the background when you buy a property – it’s the critical legal process that makes buying a property possible! From a contract review, to searches, and reaching settlement – professional conveyancing looks after the essential behind-the-scenes work. To complete the process correctly and legally, you need the right people by your side – every step of the way. We will 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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