Sydney Conveyancing: What is conveyancing?
The only way to ensure you have the appropriate documents to comply with the guidelines of putting your property on the market for sale or to purchase a property is to engage a good Sydney conveyancing service. The process of conveyancing is necessary during the buying and selling process of the property.
Conveyancing is part of the home building process as well and can also be used in home renovations in some cases. It encompasses transferring the title deed of the property from one person to another person. This is how the process of buying and selling properties begins. The following will briefly address what they do.
For home buyers
- Preparation and lodging of legal documentation like the contract of sale and the memorandum of transfer
- Calculation of taxes and other rates and fees
- Researching the property records to obtain a legal certificate of title – Reliable conveyancers will take steps to look at easements, title type, and other legal issues that need to be addressed in the process
- Representing you, the buyer, with your best interests throughout the process
- Ensuring money used for a deposit on a property is held in a secure trust
- Sydney conveyancing companies deal with Settling the property on your behalf including notifying you when it is settled and contacting your bank or other financial institution with regards to your finalising payments.
Before the contract is traded
- Confirm how much you can borrow from a lender
- Obtain your pre-approval loan letter
- Arrange for your deposit transaction and processing
- Schedule inspections required in order to obtain a loan.
After the contract trading
- Schedule further inspections of the property and oversee it
- Sydney conveyancing companies aid with the signing of paperwork with your lender to ensure you have complied with the requirements
- Prepare the settlement contract
- Verify all inspections are complete and that no more are needed.
During the settlement process
- Organise the exchange of keys and alarm codes
- Ensure the delivery of the transfer documents and certificate of title
- Notify the appropriate people when the settlement is complete.
After the settlement
- Handle the notice of sale and transfer with the Department of Lands if you also file for a mortgage
- Report the settlement
- Forward money for water and council.
For home sellers
- Representing you, the seller, by responding to questions, concerns, and inquiries by the buyer
- Ensuring that all the documents are in order, properly dated, organized, and complete.
Sydney Conveyancing: The data conveyancers need from you
You should be prepared to disclose a lot of personal and confidential data to your conveyancer whether you are a buyer or seller. It’s important to choose a conveyancer in Sydney with all the proper licensing and credentials to ensure your data is safe and secure.
Sydney Conveyancing: How long does it take?
The process of conveying generally takes between four and six weeks whether you are the buyer or seller of the property.
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