Conveyancing lawyers are legal professionals who specialise in ensuring that the legal documents you are preparing about sales, mortgage, and other property transactions are appropriate and complete.
Legal transactions such as the sale of a piece of land or other valuable properties, mortgage of properties, and other legal processes that involve properties will be easier to handle with the help of conveyancing lawyers.
If you have an upcoming meeting with a conveyancing lawyer, this article will help you know what you should ask your solicitor that will clarify and organise legal matters.
What Is Conveyancing?
Let us first understand what is conveyancing. Conveyancing is the legal process of entering into an agreement that involves the purchase of land, with or without building on the property.
This usually involves paperwork, financial processes, surveys, compliance documentation, settlement transactions, and the like. In particular, the process of conveyancing involves the following tasks:
- Understanding the contract of sale;
- Setting up building and pest inspections;
- Arranging finance;
- Paying the deposit;
- Preparing the agreement for mortgage;
- Inquiring if there are outstanding arrears or land tax obligations;
- Overseeing the change of title with the NSW Land Registry Services;
- Executing final checks before settlement;
- Investigating whether there were previous fence dispute or illegal building work; and
- Checking out if there is government interest in the land or if there is planned development work in the area.
Conveyancing costs may include the following:
- Council and water rates;
- Mortgage insurance;
- Valuation fees;
- Home building insurance;
- Survey reports;
- Building and pest inspections;
- Stamp and mortgage duty; and
- Mortgage establishment.
Conveyancing may involve Australian property and tenancy laws. That’s why seeking legal advice from a lawyer may be a smart move. Moreover, you may have to inquire from a lawyer if you want to know more about the calculation and estimates of conveyancing costs in NSW.
10 Questions to Ask Conveyancing Lawyers
If you have an upcoming consultation with a conveyancing lawyer, you must prepare the questions that you should ask and relevant documents that the lawyer may want to see. Here are some questions that you can ask conveyancing lawyers:
- How long does the conveyancing process take and what are the steps involved?
- What are my responsibilities in the process?
- Are there any possible factors that may delay the process?
- Can you identify the potential risks or issues with the property’s title?
- What should I do if there are outstanding debts on the property transaction?
- How much will the conveyancing process cost and can you provide me an itemised breakdown?
- How often should we communicate and how can I best reach your office?
- What is your fee structure?
- What are the additional expenses that I should expect during the process?
- Can you assist me during the negotiation process?
Feel free to add your own questions if you want to clarify specific matters. By asking the right questions during your consultation, you will have all the information you need. Don’t forget all the necessary documents when you come in for a consultation.
If you ever face issues along the way, seek the help of your conveyancing lawyer to ensure a proactive resolution.
Bonus Tips for a Smooth Settlement
When buying a home, it is important that you do your research and consult legal experts like conveyancing and estate lawyers. Researching will allow you to gain more information and, therefore, help you in making informed decisions.
To verify your research, consulting with conveyancing lawyers is a must. These legal experts know their way around the world of contracts and other transactions involving property. Taking precautions by resorting to legitimate legal advice will give you confidence throughout the entire process.
Settlement is the part where the buyer pays to the seller the remaining sale price and becomes the legal owner of the property. In this phase, the lender will disburse the funds for your home loan and you will receive the keys to your home.
This will take around 6 weeks after the exchanging of contracts. Moreover, you must prepare funds for this part of the process for:
- Legal costs
- Conveyancing fees
- Transfer duty
- Unpaid lending charges
To guide you during this phase, here are some tips for a smooth settlement that will guide you in your preparation phase:
- Set up a substantial consultation with your conveyancing lawyer.
- Gather the necessary documents and make sure that you have an extra copy of each document.
- Maintain your communication lines open with your conveyancer, seller/buyer, or real estate agent.
- Do an advance checking as to the potential issues with the property or contract by asking your conveyancing lawyer to review it.
- Get an appropriate insurance coverage from your financial institution for the property before the settlement.
- Expect possible minor hiccups during the process. Your conveyancer will assist you to resolve these.
- Review and comprehend the terms and conditions of the contract thoroughly before the settlement.
- Don’t hesitate to ask your conveyancing lawyer questions for clarification.
JB Solicitors’ Conveyancing and Property Lawyers
Our experienced conveyancing solicitors at JB Solicitors can assist you with your conveyancing transaction. Here’s a list of conveyancing services that we offer:
- Contract review and negotiation when selling property
- Ensuring transfer of ownership from seller to buyer
- Due diligence and risk mitigation such as identification of possible issues
- Settlement transactions such as preparation of documentation and calculation of adjustments
- Provide legal advice on tax advice, estate planning, commercial property and dispute resolution.
We also deal with other property cases concerning contract, leasing, boundary, and co-ownership disputes. Australian property law can be technical and a lawyer’s guidance may be just what you need.
If you’re thinking of availing the services of our conveyancing lawyers, let’s discuss your specific needs and the services that you may avail depending on your case. Don’t hesitate to reach out about home or investment property law.
Schedule a consultation with a property lawyer today.
