Educate Yourself About Law

3 Useful Facts For Sellers To Know About Property Conveyancing

by Erika Reed

When you want to sell a property in Australia, you should remember that each jurisdiction has its laws that govern a conveyancing process. If you are a seller, conveyancing refers to a legal means of transferring a title deed to a prospective buyer. Therefore, engaging a lawyer who is experienced with the laws in your area will help you to fast-track the conveyancing process. Consider a law firm that has a team of solicitors in every state to come in handy when you need to transfer out-of-state property. Here are some useful facts for sellers to know about property conveyancing.

Conveyancing Process

Conveyancing is a legal requirement in all states and territories since a seller is required to transfer a property following the laid-down statutes by such jurisdictions. The transfer must be in writing so that all the parties involved are legally responsible and adhere to the laws. During the settlement period, several processes take place, such as the provision of necessary information and documents to a buyer. Notably, a buyer should conduct a property search to determine if a purchase is in good standing. Therefore, a seller should avail copies of documents such as zoning certificates, the certificate of title, rights of way, easements, a utility diagram, and a title search. If satisfied, both parties prepare a contract of sale that must be signed and dated to make it legally binding. The property settlement day provides a seller with an opportunity to hand over the title of a property after all obligations have been met, including payments.

It Is a Legal Profession

Although property sellers can do conveyancing on their own, it can prove daunting because of the many legal requirements to be met. Therefore, a solicitor or conveyancer could help you with the legwork of conveyancing. The role of such experts is to make sure that all parties are protected. Furthermore, a solicitor or conveyancer helps a seller to meet all legal obligations concerned with the disposal of a property.

Timelines Are Key

During the sale of a property, a conveyancer or solicitor needs to work within specific deadlines to avert any legal ramifications or delays in the conveyancing process. Therefore, you need to consult an expert as soon as you decide to put a property on the market. A professional will help you by doing research, preparing and filing documents with relevant agencies, responding to buyer requests and offering legal advice every step of the way. Remember that missing deadlines can make a buyer lose interest in a property and opt to look elsewhere.