You get what you pay for when it comes to conveyancing

Buying or selling a property is one of the most expensive transactions you will undertake in your lifetime. That’s why it might be tempting to start cutting costs. But you get what you pay for when it comes to conveyancing. You need a conveyancer to guide you through all possible scenarios to minimise risks. Looking for a low budget solution can be false economy when compared to what it could cost if it’s not done properly.

There’s a mistaken belief that conveyancing is a simple matter of ticking boxes. But nothing could be further from the truth. The potential for legal problems is very real if your conveyancer is not highly experienced, well trained and thorough. Unfortunately, cheap often means that someone has cut corners or important searches aren’t carried out and that could leave you with a contract at risk, a property with problems or, worse still, complications that end up in costly legal proceedings.

Everyone’s financial arrangements are unique and can be quite complex. That’s why it is important that your chosen conveyancer takes the time to know your individual situation. This will save you from causing delays in settlement or failing to settle, which can expose you to financial distress and additional costs.

What does a quality conveyancer do?

They are involved in the three stages of settlement:

  • They will advise you on the contract terms and conditions, obligations and anticipated extra costs of the transaction.
  • They will prepare all relevant documentation and communicate with all parties involved to ensure everyone is ready to settle on time.
  • They will advise all authorities of the change of ownership following the transfer of title on settlement of the transaction.

If you are the seller, your conveyancer should:

  • Listen to your needs and advise you on suitable contract terms and conditions that protect your interests when selling your property.
  • Conduct property searches and enquiries so that you comply with your disclosure obligations to buyers.
  • Prepare your vendor’s statement (Section 32) and contract of sale.
  • Calculate the adjustment of council rates, water, levies and other outgoings at the date of settlement.
  • If applicable, liaise with your bank or lender in preparation for settlement.
  • Arrange settlement of the property and notify you when the property is settled.
  • Prepare and lodge all relevant statutory notices.

If you are the buyer, your conveyancer should:

  • Represent your interests with the seller’s conveyancer/legal representative and their agent.
  • Negotiate or clarify the terms of the contract and inform you so you understand your rights and obligations.
  • Calculate the adjustment of council rates, water, levies and other outgoings at the date of settlement.
  • Conduct relevant property searches and enquiries.
  • Prepare all documents required to transfer ownership of the property to you.
  • If applicable, liaise with your bank or lender in anticipation of settlement.
  • Arrange settlement of the property and notify you when the property is settled.
  • Prepare and lodge all relevant statutory notices.

Barry Plant recommends Settle Easy to buyers and sellers because they only use highly trained professional conveyancers that offer their services at a fair and reasonable price. Settle Easy will ensure that all the i’s are dotted and t’s are crossed for this important final stage in your property transfer.