Throughout this article, we’ve answered a few frequently asked questions about conveyancing and what a conveyancer does. Find out more by reading on…
When buying, selling, building or investing, finding the right team of advisors can be difficult. Conveyancing is handled by a conveyancer, although a solicitor assists with more complicated transactions.
You’ll find the answers to the most frequently asked questions about conveyancing in this article. Questions including, when you use one, what they can assist with, what they can’t assist with, and more.
Top Frequently Asked Questions about Conveyancing
What is conveyancing?
The conveyancing process is the action of transferring ownership of a property from one party to another. The transactions usually start when a contract is signed, and end when the money is transferred and the relevant authorities are notified.
Considering the complexity of the legal work involved, it is recommended that you hire a professional to handle your conveyancing.
Who is a conveyancer?
Licenced professionals who specialise in real estate law are conveyancers. In order to offer legal advice, this category of legal professionals must have passed requisite legal qualifications.
A conveyancer is not necessarily a lawyer, as they can take a certificate course instead of a law degree. They will have to undergo two years of supervised experience before they can begin providing legal advice.
It is also possible for lawyers to act as conveyancers. If a lawyer has a law degree, has completed practical legal training, and has completed 18 to 24 months of supervised practice, they can practice conveyancing. In other words, lawyers are more knowledgeable about the law and have more knowledge, while conveyancers are more knowledgeable about the property and cannot provide assistance with complex issues.
When should a conveyancer be used?
A conveyancer assists people when they need help with the simple transfer of property. Conveyancers assist in obtaining necessary documents by clarifying the process when selling, purchasing or transferring a property.
What can a conveyancer help me with?
A conveyancer can help with:
- Contract of sale.
- Enquiring about property zoning.
- Memorandum of transfer.
- Representing you with sellers and agents.
What is the difference between a solicitor and a conveyancer?
A solicitor and a conveyancer are two different legal practitioners. In a recent blog about why Property Legal is Thriving during a Pandemic who you need depends on your circumstances.
In New South Wales, the decision to use a solicitor or conveyancer will depend on your individual circumstances. A solicitor will often operate in many different legal areas of property law whereas, a conveyancer will be specifically qualified in areas of conveyancing but will be limited to other property matters. If the matter has complicated legal issues during the course of settlement a conveyancer won’t be qualified or may not be able to advise you on some matters of property law.”
Also, conveyancers specialise only in property law, while solicitors have a broad understanding of the law. However, may have taken specific property-related courses. Therefore, solicitors can perform the same duties as conveyancers, but they have the additional legal knowledge, offering superior legal advice.
The conveyancing process takes how long?
The conveyancing process typically takes eight weeks.
Is there anything I should ask the conveyancer?
If your having trouble decinding if you should use a conveyancer, ask the following questions:
- Are you a member of the Australian Institute of Conveyancers?
- Do I need a solicitor or a conveyancer in my situation?
- What types of property do you specialise in?
- How much will it cost?
- What are your fees and charges?
- What will I have to pay at settlement?
- What other costs are there?
- How will you communicate with me, and how often?
- How long will everything take on settlement day? (This is important if you are arranging movers and other parties).
If you require related advice, or you’re thinking of buying an Investment Property, our team of skilled investors here at Chase Edwards are here to assist you. With years of investing in properties under our belts, we can help you make strategic decisions, navigate home loan rates, and find the best investment opportunities for your budget.