Are you in the market to buy or sell a property? If so, you’ve probably heard the term “conveyancing” being thrown around. But what exactly is conveyancing, and why is it important for property transactions? In this essential guide, we’ll walk you through everything you need to know about understanding conveyancing.
What is conveyancing?
In simple terms, conveyancing is the legal process of transferring ownership of property from one person to another. It involves the preparation, execution, verification, and lodgement of several documents, as well as an investigation of the title of the property to search for anything that may affect its usage. Conveyancing is the process of organising and working through all the complicated legal paperwork that comes with property transactions.
Why do you need conveyancing?
Conveyancing is essential for any property transaction to ensure that all legal requirements are met and that the transfer of ownership is carried out correctly. A conveyancer will help you prepare and process all of the legal documents associated with the purchasing, selling, or transferring of a property. While it’s possible for an individual to undertake the conveyancing process themselves, it’s not recommended as it can be complicated and time-consuming.
What does a conveyancer do?
A conveyancer helps you navigate through the complex legal process of conveyancing, ensuring that all legal requirements are met and that your rights are protected. They will help you prepare and process all of the legal documents associated with the purchasing, selling, or transferring of a property, as well as investigate the title of the property to search for anything that may affect its usage. We recommend using a solicitor for property transactions, as they have a thorough understanding of the legal processes and relevant legislation such as the Sale of Land Act.
What are the steps involved in conveyancing?
Conveyancing processes may vary and will depend on the property involved, but the stages can be divided into three major ones: pre-contract, pre-completion, and post-completion. There is substantial legal and administrative work to be completed at each stage, and while the conveyancing process is fairly similar from one transaction to the next, the actions required for each transaction will be dependent on the circumstances.
When should you get a conveyancer?
If you’re buying a property, it’s best to approach a conveyancer before signing the Contract of Sale so that they can advise you on the contract, the Section 32, and negotiate any special conditions. If you’re selling, it’s best to engage a conveyancer when you decide to place your property for sale so that they can help you prepare a Section 32 and have it ready by the time your agent commences your marketing campaign.
Can you buy a house without a conveyancer?
While it’s possible to buy a house without a conveyancer, we don’t recommend it. The conveyancing process can be complicated and littered with legal wording, so it’s best to enlist the services of a conveyancer to ensure that all legal requirements are met, and the transfer of ownership is carried out correctly.
How much should you pay for conveyancing?
Conveyancing charges vary based on the specifics of the transaction. We offer a fixed-fee conveyancing service as well as traditional conveyancing services. Speak to us early on to get a quote for our services and to find out more about the conveyancing process.
How quickly can conveyancing be done?
The speed at which conveyancing can be completed will depend on the settlement date written in your Contract of Sale. If your settlement is in 4 weeks or less, your conveyancer will have to prioritise your transaction. This is why it’s always best to engage a conveyancer as soon as possible to ensure that everything is done in a timely manner.
How do you choose a conveyancer?
Finding a good conveyancer to assist you with buying or selling property is similar to the process of looking for a real estate agent- that is through word of mouth. At Mr Conveyancer, we have the credentials and pride ourselves on effective communication with our clients. We understand that the conveyancing process can be confusing and stressful, and we mitigate this by guiding you through each step of the process.
Conveyancing is an essential process when it comes to property transactions. While it may seem complicated, having a good conveyancer on your side can make the process much smoother and stress-free. Whether you’re buying or selling a property, make sure to engage a conveyancer as soon as possible to ensure that everything is done in a timely and correct manner. At Mr Conveyancer, we offer a range of conveyancing services, including a fixed-fee service, so get in touch with us today to find out more about how we can help you with your property transaction.