In between finding your perfect home and moving in, a range of complex legal and regulatory steps need to be completed carefully and precisely, and this is where conveyancing comes in.
What is Conveyancing?
Conveyancing is the umbrella term for the process that transfers legal title in property from one person or entity to another. The process has its own term and specific rules to govern it because of the importance attached to property and the value of land and property transfers compared to other simple purchase transactions.
Who can be a Conveyancer?
It is usually the case that the most experienced conveyancers are solicitors who are licenced with the State Department of Fair Trading to perform conveyancing services. There are also standalone licensed conveyancers who are not solicitors that you can engage, however these professionals often lack wider legal knowledge that can often come in handy.
The benefits of working with a conveyancing solicitor include having access to a wider range of services including legal advice and contracting experience that will make buying your next home simpler. In addition, working with a solicitor means that you get an extra layer of consumer protection and trust, as the Law Society of New South Wales and the Office of the Legal Service Commissioner both oversee the legal profession and its participants to ensure fairness and best practice.
How Conveyancing Works
The conveyancing process can be divided into three parts: before the contract is signed, before the contract is completed, and after the contract is completed.
Before the contract is signed, a conveyancing solicitor can provide the following services:
- Analysis of the sale contract on your behalf for any hidden terms and conditions that may affect your interests
- Examination of external reports, such as strata reports or planned development submissions, with the benefit of professional experience
- A check of relevant databases to ascertain if there are any outstanding debts or land tax obligations over the property.
Before the contract is completed several steps have to be taken to ensure that the process goes smoothly and the sale does not “fall through”. A conveyancing solicitor can help you:
- Arrange finance with your bank on your behalf to fulfil the terms of the sale contract
- Arrange the payment of stamp duties, land tax, and rates
- Calculate the fair adjustment to these payments to be made by the buyer and seller depending on when the parties complete the sale
- Complete the necessary paperwork for the change of title with Land and Property Information New South Wales.
After completion of the sale contract an experienced conveyancing solicitor can:
- Attend the settlement to ensure a smooth transfer for all parties involved
- Become a first point of contact for any future legal issues that may arise regarding your new home.
Our Conveyancing Process
At BTF Lawyers, our conveyancing works include all of these services and more as legal and property experts. However, we always go above and beyond the standard processes to ensure that buying your home is as straightforward as possible. In particular, we pride ourselves on our focus on:
Clarity and Transparency
If you are buying a home, you should know exactly what is happening at all stages. However, sales contracts can often be long, complex, and difficult to understand for those without legal experience. At BTF Lawyers, we analyse your sales contract in detail, and explain the terms to you in everyday language.
We also prepare transparent settlement figures so you know who is getting paid how much, and for what product or service. With this knowledge, you will be in the strongest position possible to make decisions regarding your purchase.
Experience comes with its advantages. With our many years working as lawyers and conveyancing specialists in Sydney, we can represent your interests to ensure you get the optimum result from the property transfer. Whether it is in negotiations with the vendor of the property you wish to buy or with your lender about financing terms, we can be your trusted representatives through the whole process.
Buying a home is a huge undertaking, but you cannot put the rest of your life on hold while the process is carried out. BTF lawyers can help take some of the hassle and stress out of the equation. We can communicate with your lender, deal with administrative matters like stamp duty, and book times for settlements.
Attention to Detail
Property transfers are complex and can often come with hidden surprises. We will conduct all of the relevant searches and inquires you need, as well as research any government initiatives and programs that might benefit you. By doing this research and presenting you with relevant results and legal advice, we can give you the information you need to make the right decisions.
We prepare settlement figures that are totally transparent and clear so you know who is getting paid how much, and for what product or service.
Once we have completed the necessary conveyancing work, we do not simply disappear. BTF Lawyers is a trusted member of the Sydney property community and are always available if you have any outstanding matters related to the purchase of your new home to follow up at a later date.
If you have any questions about conveyancing, property transfers, or buying a home, please give us a call on (02) 9617 0737 or get in contact via email on our contact us page.