Real estate conveyancing is the process of transferring the legal ownership of property from one person to another. It is a complex and lengthy process that requires the services of a qualified property conveyancer. Attempting to complete the transaction on your own could result in costly mistakes and legal complications. It is therefore important to use a professional when selling or buying residential property.
What is fixed fee conveyancing?
There are many factors to consider when choosing a melbourne real estate conveyancing, including their qualifications, licenses and experience. It is also important to find out whether they are members of the Australian Institute of Conveyancers and if they are insured. You should also ask for an itemised list of fees and charges before engaging their services. This will help you avoid any surprises and misunderstandings in the future.
When you engage a professional to handle your property conveyancing, they will work with the real estate agent and the buyer’s conveyancer to prepare the Contract of Sale. They will also check for any outstanding encumbrances or debts against the property and carry out a title search to obtain as much information about the property as possible. They will also advise you about arranging building and pest inspections.
A conveyancer will also draft the Section 32 (Vendor’s Statement) and, if required, the Section 184 Declaration to be provided to the buyer before settlement. These documents contain a detailed description of the property, outgoings such as council rates and water rates, strata fees, building permits granted by VicRoads and proposed works. It is crucial to ensure that these documents are accurate, as any misinformation may cause problems at settlement time.