July 27th, 2021
When it comes to business or a deal, a contract incorporates all terms and conditions. Keeping this in mind, it is important to have the correct paperwork when dealing with property (selling or buying). There are many factors one should consider during property transactions and choosing a good conveyancer or solicitor is just one of them. You should also check for any rent increases listed on the lease, as well as any requirements for banks, brokers and document preparation. It is highly advisable to consult a conveyancer or solicitor to ensure there are no conflicts in the future and for smooth transitioning of the property.
What is Conveyancing?
Conveyancing is the legal process of transferring property ownership. It involves putting together all the documents necessary for the transfer of property from one person to another. This legal process can be handled either by a conveyancer, solicitor or the person buying or selling the property. Since it consists of many legal formalities it is best to trust a conveyancer or solicitor to handle it.
What does a Conveyancer do?
A conveyancer plays a crucial role during the process of the property settlement. Dealing with a property transfer may seem like an easy task on the surface but it is more than just dealing with some paperwork. It is beneficial and recommended to seek help from a conveyancer or solicitor as they play a vital role during property transactions, providing legal assistance through the process.
The role of the conveyancer includes:
- Preparing the Contract of Sale and Section 32 Vendor’s Statement
- Performing all necessary searches for the transfer of property
- Liaising with all relevant parties in the transaction, including the Vendor or Purchaser’s representative, and the lender or broker
- Obtaining the Certificate of the Title
- Procuring the Statement of Adjustments for settlement
- Completing all necessary documents for settlement
- Arranging for and attending to matters in preparation for settlement
- Attending to every stage of settlement to ensure a smooth transfer of title
How much Does Conveyancing Cost?
It is quite common for one to be curious about the legal costs involved during property transactions. In general, a conveyancer would charge anywhere between $500 to $2500 depending on the type of services they provide. However, conveyancing costs in Victoria are different from those in New South Wales and other Australian states in that there is no standard fee that applies nationwide. Further, depending on the facts and requirements of each case, there may be additional work required involving an application to the Foreign Investment Review Board, nomination, licence agreement, lease or contract review.
How is a Conveyancer Different from a Solicitor?
Although both are fully qualified to offer conveyancing services in a property transaction, a conveyancer cannot be a solicitor while a solicitor can be a conveyancer. A typical conveyancer would obtain his or her qualification by completing a two-year conveyancing course followed by an additional two years of supervised practical experience. A conveyancer in Australia must register with the Australian Institute of Conveyancers.
On the other hand, a solicitor holds a practicing certificate after having obtained a recognized law degree and practical legal experience. A solicitor is automatically qualified as a conveyancer. In the case where things turn ugly and you require legal assistance, a solicitor is fully qualified to provide legal advice to solve the complications however, a conveyancer is not qualified to provide you with legal advice .
JK Lawyers to the Rescue
The advantage of engaging JK Lawyers is that both the conveyancing clerks and solicitors are available to offer their services. This means that at first instance, your conveyancing matter will be handled by our experienced conveyancing clerk and if it becomes complex, then solicitors will intervene to attend to additional legal work required which includes drafting special conditions, drafting agreements such as a licence agreement or lease, letters resolving disputes etc depending on the requirements of each matter.
JK Lawyers is a law firm founded in 1999 and providing legal services to many different clients across the private, commercial, nonprofit and government sectors. We have an excellent legal team to provide property transaction advice. Our services are fully customised to the specific requirements of our clients. Besides providing legal assistance in matters of property, we also have the expertise to provide legal help with commercial litigation, family law, estate planning as well as migration law and ligation.
Please contact us to assist you in your conveyancing matter in order to avoid any legal issues when it comes to purchasing or selling. We provide lawyers conveyancing services in Melbourne with a range of languages including Cantonese, Vietnamese, and Mandarin, allowing us to work with a wider range of clients. We service clients across Victoria in both metropolitan and regional areas. Our team have also helped to facilitate property transactions for clients in Singapore, Malaysia, Hong Kong, Taiwan, India, the United States, and the United Kingdom.
Irrespective of whether you are planning to buy or sell a property, JK Lawyers can help with the conveyancing process.
The advantage of opting to use our team is that we are fully aware of the conveyancing process and will regularly communicate with you to keep you updated during the process, including the signing of the contract of sale, establishing the settlement date, liaising with banks, brokers, managing agents, selling, preparing documentation, drawing of bank cheques on your behalf, assessment of stamp duty, lodgment with Land Victoria.
We also have the expertise to perform electronic conveyancing using the Property Exchange Australia (PEXA) digital property network.