If you’re selling or buying a property in Western Australia, you’ll need to appoint a conveyancer to assist you with the transaction. If you’ve ever asked yourself “what does a conveyancer do?” then read on and educate yourself with the information below.
What is property conveyancing?
In a nutshell, conveyancing is the preparation of documents used in the transfer of property title from an existing owner to a new owner. Conveyancing must be performed by a licensed settlement agent, and the costs incurred are usually based on the amount of work and intricacies involved with the transaction.
What is a property conveyancer?
Settlement agents, also known as conveyancers, can be employed by a settlement agency, or may even operate their own business. A property conveyancer must possess the requisite qualifications, licenses and certification in order to legally practice as a settlement agent.
Senior conveyancers possess 5 years of industry experience and autonomously manage the settlement process for their clients, from commencement through to completion.
What does a property conveyancer do?
A conveyancer’s role is to perform all necessary checks, protect a client’s interests, and ensure all legal obligations are met throughout the entire settlement process. These tasks include:
- Searching the land registry for existing Certificate of Title
- Showing current legal owner, the land description and any noted dealings such as caveats or encumbrances
- Searching of government departments and local authorities
- Uncover matters that affect the property and may potentially delay the settlement process
- Or if selling, check for ATO clearance certificates, outstanding rates, plus check compliance with smoke alarm and Residual Current Devices (RCDs).
- Perusing of the Contract of Sale and the special conditions noted thereon in order to provide advice on potential issues
- Ensuring that final inspections have been carried out and special conditions in the Contract of Sale are finalised prior to settlement
- Enquiring with local shire, Water Corporation, land tax authority and strata company (if applicable) to obtain copies of rates, taxes, orders and requisitions
- Attending to the pro-rata adjustment of rates and taxes and making sure that you only pay for the exact days you have owned the property, starting from the day after settlement, if you are the buyer
- Preparing and stamping of all required legal documents to transfer the title of the property to you
- Liaising with mortgagees and financiers to ensure all loan documentation is complete and funds ready to proceed with settlement
- Coordinating settlement date and time with your financial institution and the seller’s settlement agent
- Attendance in-person at settlement to ensure accurate exchange of legal documents and funds (where necessary)
- Confirming once settlement has occurred
- Preparing of settlement statements
Mosaic Settlements use PEXA to streamline the conveyancing process.
Do other Australian states use settlement agents?
Sales in Western Australia are carried out using standard REIWA Offer and Acceptance documentation. As a result, there’s no need for lawyers to be involved in the preparation of the Contract of Sale. However, outside of Western Australia, real estate sales are completed by an exchange of contracts that are usually prepared by lawyers.
What can a conveyancer help me with?
The expert team at Mosaic Settlements can handle all matters of conveyancing, including:
- Residential settlements Perth
- Strata conveyancing services
- Commercial conveyancing Perth
- Subdivision conveyancing
- Private property sale conveyancing
- Sale of property to a related party
- Deceased estate settlements
- Lost title applications
- Application for new titles
- Divorce property settlement (Consent or Court Order transactions)
- Amending names and other details on the title
Reach out to us today for assistance with all conveyancing matters.