What does a conveyancer do?
For those out there that aren’t familiar with the buying process, understanding what a conveyancer does can be challenging. A good conveyancer will ensure you fully understand the process and know what’s involved. They’ll action your instructions, assist with the legal obligations and protect your rights/interest. One of the most important roles of a conveyancer is to investigate the title of the property so you can be aware of anything affecting the property.
Some of the areas a conveyancer will assist with are:
- Certificate of Title searches
- Searches of government departments and local authorities
- Advice on the effect of the contract
- Preparation and certification of legal documents
- Stamping of required documents
- Calculation of adjustments of rates and taxes
- Preparation of settlement statements
- Liaison with mortgagors and financiers; and
- Attendance at settlement.
Things for buyers to look out for include:
- What encumbrances, charges etc there are on the property? What happens to these?
- Are all appliances etc in good working order and condition?
- How is the electrical wiring and plumbing etc?
- What is included/excluded? Lists should be detailed like is the TV antenna staying?
- Can I do a final inspection before settlement? (most contracts don’t allow for this)
- Whose interest does the agent represent? (not the buyers)
- Is GST applicable on the purchase price?
To be sure your best interests are being taken care of, it’s wise to appoint your own conveyancer. You’ll need to engage the services of a conveyancer whether you’re looking to buy or sell. Engaging a conveyancer early in the process can help particularly with perusing contracts and giving advice.
Are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. To find out how Hunter Galloway can help you call Nathan Vecchio on 0410 000 689.