What is conveyancing?

Conveyancing is the process of transferring the legal title from one person to another as per Transfer of Land Act.

Do I need a conveyancer?

Anyone is legally allowed to do their own conveyancing.  Conveyancing kits can be purchased from newsagencies.  However buying and selling a property is normally a significant transaction for most people and there are a number of forms and requirements that need to be met in order for settlement to run smoothly.  So while you can do it yourself, why add to the burdens of an already busy life when GDM Legal & Conveyancing can effect the legal transfer efficiently and stress free.

What does a conveyancer do?

A conveyancer does a range of tasks and they vary slightly depending on if you are buying or selling.  Click on either link for a fuller description of what a conveyancer does.

When buying a house, a conveyancer will:

• review the Section 32 statement created pursuant to the Sale of Land Act
• provide legal advice on any loan documentation
• Review of the Section 27 statement pursuant to the Sale of Land Act from the vendor
• Prepare and lodge a caveat on the purchased property protecting your right to the property
• Prepare the Transfer of Land form
• Prepare any documentation required to be submitted to the State Revenue Office (for stamp duty)
• Prepare the statement of adjustments
• Liaise with your mortgage broker to ensure enough funds are available for settlement
• Liaise with the vendor’s conveyancer to confirm the smooth transfer of title occurring at settlement
• Attend settlement to exchange documentations and cheques

When selling a house, a conveyancer will:

• Prepare the Contract of Sale
• Prepare a Section 32 statement pursuant to the Sale of Land Act
• Prepare a Section 27 statement for the early release of the deposit
• Assistance with completing the Transfer of Land form
• Prepare any documentation required to be submitted to the State Revenue Office
• Obtaining a clearance certificate from the Australian Taxation Office if the sale price is over $750,000
• Liaise with your mortgagee (bank) to ensure the mortgage will be discharged at settlement
• Confirm the statement of adjustments and cheque directions
• Liaise with the purchaser’s conveyancer to confirm the smooth transfer of title occurring at settlement
• Attend settlement