Conveyancing is the process of transferring ownership of a legal title of land (property) from one person or entity to another.
A conveyancer is a licensed and qualified professional whose job it is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process.
Conveyancers don’t necessarily have to be lawyers but solicitors often undertake this work.
What a conveyancer does
For the buyer – a conveyancer will:
Prepare, clarify and lodge legal documents – e.g. contract of sale, memorandum of transfer
Research the property and its certificate of title – check for easements, type of title and any other information that needs addressing
Put the deposit money in a trust account
Calculate the adjustment of rates and taxes
Settle the property – act on your behalf, advise you when the property is settled, contact your bank or financial institution on when final payments are being made
Represent your interest with a vendor or their agent
For the seller – a conveyance will:
Complete and ensure the legal documents are all sorted
Represent you and respond to requests from the buyer – for example, request to extend dates, title questions, etc