What is a conveyancer?

Oct 10, 2022, 16:52 PM
Title : What is a conveyancer?

A conveyancer, or also known as a settlement agent, is granted a license by the State Government that enables them to arrange for the transfer of legal ownership of property.

Each party to a contract for the sale of land normally appoints a conveyancer to act in their best interest. The conveyancer ensures that the necessary procedures and documents are signed and lodged to enable the transfer of ownership to occur when the agreed purchase price paid.

The appointment and the agreement to a fee for services is normally made when the buyer and seller have signed the contract for the sale of land.

In preparation for the transfer of ownership, the conveyancer may perform the following functions:

  • Searching land titles and dealings in the records of Landgate to ensure that the seller is the registered proprietor of the land and is able to transfer ownership.
  • Identify the person purporting to be the seller.
  • Searching and inquiring at government and local government offices to determine if records, plans and policies affect the property.
  • Making inquiries with respect to the adjustment of local government rates, water rates, taxes and other outgoings such as strata levies.
  • Determining if any rent needs to be adjusted.
  • Determining if any contractual conditions need to be satisfied.
  • Preparing a settlement statement and an authority for the payment or receipt of monies.
  • Arranging the payment of duty (previously called stamp duty) and any other imposts or fees on documents.
  • Arranging and attending the settlement, including exchanging documents and receiving and disbursing monies to affect the settlement.
  • Lodging documents to enable the registration of the new owner with Landgate.
  • Reporting on the progress of the settlement to the designated party (buyer or seller).  

The completion of a real estate transaction can be a complicated process so it is important that a conveyancer with the necessary set of skills to complete the transaction is appointed.

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