Know How Conveyancer in Melbourne Make Buying and Selling Of Property Hassle-Free

Conveyancing is the process of legally transferring property ownership from one party (seller) to other (buyer). The process stars with making an offer and ends with the seller handing over keys of the property to the buyer and is generally done by a conveyancer in Melbourne. Hiring a professional would help you prepare yourself for unpleasant surprises and make the whole process quick and hassle-free.

The different tasks performed by a property solicitor in Melbourne are

1. Drawing documents: The primary role of a property solicitor is to prepare all legal documents required for the whole process. The conveyancer needs to prepare the contract for sale that includes all special conditions so that conflicts can be avoided in the later stage. A vendor statement should also be prepared after conducting title and planning searches. The buyer needs transfer documents so that the property is transferred rightfully and legally on the buyer’s name.
2. Legal Advice: The lawyer would help both parties to take right decisions and navigate the whole process till end. Solicitor should include all the special conditions in the contract of sale. These professionals also help in collecting all the documents required to complete the transaction. The conveyancer works on behalf of the buyer and advices on terms and conditions of contract of sale. The experts also point on special terms that you should be aware of which applies to vendor’s contract too.
3. Arranging settlement: The solicitor helps to arrange the final settlements of the deal. The seller’s conveyancer will coordinate a proper time with the buyer’s representative. After the settlement is done, the conveyancer would ask the seller to hand over the keys. The conveyancer would be in touch with buyer’s bank to make sure the funds are released on the day of settlement.

The three jobs of the conveyancer help you to make the deal with ease and tension free.

Important Terms of Real Estate Conveyancing

Conveyancing in Melbourne is an act of transferring an ownership interest in property from one party to other. This also refers to written instrument (deed or lease), that transfer legal rights from seller to buyer.

The term real estate conveyancing or simply conveyancing is closely related to real estate, where the written contract between the seller and the buyer contains the agreed points between the purchaser and the seller. Conveyance of ownership is referred to as conveyancing while the legal representative is known as conveyancer.

Literally speaking, conveyances are the category and sale deed is the type of conveyance with in that category. 

Typical process of conveyance include:

• Review of lines ( a legal claim on assets)
• Encumbrances (a claim against a property by someone who is not the owner)
• Ensuring all conditions have been met (all the agreed upon conditions by both parties should be met)
• Settling taxes and charges with party prior to transfer ( all the taxes need to be cleared prior to the transfer)
• Confirming financial transactions (the mode of payment of the amount from buyer to seller)
• Preparation of all documents: All the documents like deed, mortgage documents, certificate of lines and rest need to be made.

These steps form the major chunk of conveyancer work.