Why use a conveyancer?
By choosing a Licensed Conveyancer to handle your transaction you receive the following benefits:
- Competitive fees
- Superior service levels and more accessibility to us than a lawyer
- Straight forward and practical legal advice
- A professional who carries professional indemnity and fidelity insurance
What are your fees?
As every conveyancing transaction is different, we will need to provide a quote based on the type of property you wish to sell or buy and ask that you contact us so that we may forward our costs agreement to you.
Where do I need a Contract for Sale prepared?
A real estate agent is required by law to hold a copy of the Contract for Sale prior to showing any potential purchaser through the property. There are a number of documents that are required by law to be included in a Contract for Sale. Once you advise us of the property address, we can begin the process of drafting a Contract for you.
What is the cooling off period and how does it affect me?
A cooling period is the right of a purchaser of property to “cancel” the agreement within 5 working days. It offers some protection to purchasers that may need to exchange a contract quickly as this period can be used to finalise financial arrangements, undertake pre-purchase inspections and carry out title searches.
Cancelling the agreement (also known as rescinding the contract) will cost the purchaser 0.25% of the total purchase price. The cooling period does not always apply and can be waived by providing a 66W certificate which is signed by the conveyancer who has explained to his or her client the implications involved with waiving the cooling off period. Cooling off periods do not apply at auctions.
What is a disbursement?
A disbursement is one of the expenses incurred during the conveyancing process and may include but not limited to government searches, sundries, settlement fees, title searches etc.
Who do I pay the deposit to?
Usually the deposit is payable by personal cheque to the real estate agent.
Carmalt Conveyancing can more fully advise you who the deposit is paid to once we have reviewed the Contract as the deposit may not always be held by the agent.
What happens at settlement time?
Settlement is the finalisation of the sale or purchase process. There are usually four parties involved – the sellers and buyers conveyancers and the financial institution (if any) for each party. On settlement, the buyer’s bank will exchange cheques as per the instructions of the seller’s conveyancer and in return receive the Certificate of Title and a number of other documents from the seller’s bank for registration.
Who notifies the authorities that I have purchased a property?
After settlement your transfer papers are lodged for registration at the Land Titles Office. The Land Titles Office will notify the local Council, Sydney Water and the Valuer General of your purchase. Other service providers such as electricity, gas and telephone etc need to be notified by the purchaser.
When do I collect the keys?
Usually the keys are collected from the real estate agent once we have notified your agent that settlement has been effected.
Do conveyancers holds professional indemnity insurance?
All licensed conveyancers are covered by a policy of professional indemnity insurance to protect you in the unlikely situation that something goes wrong with your property transaction.