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What Does A Conveyancer Do? Can You Do It Yourself?

Feb 23, 2016

Conveyancing lawyers assist home buyers and sellers with the transferring of ownership of legal title for property.

A conveyancing lawyer will represent one side of the transaction, so both the home buyer and seller will have their own conveyancer. They have extensive experience in all areas of property law and are there to protect your interests.

When hiring a conveyancer it’s best to work with them from the beginning so they can advise you in the following areas;

When buying a property

  • Review and advise you on the contract of sale, making sure it doesn’t involve any surprises or restrictions that prevent you from using the property as you intend.
  • Prepare documents such as the memorandum of transfer etc.
  • Research the property and the certificate of title, advising on easements, results of property searches and other relevant areas.
  • Ensuring stamp duty is calculated properly and any concessions are properly claimed.
  • Placing deposit money in a trust account.
  • Calculate adjustments for rates, taxes and stamp duty.
  • Settle the property on your behalf, liaising with the banks or financial institutions to ensure payments are made.

When selling a property

  • Drafting the contract of sale, as well as negotiating with the buyer’s conveyancer on any disputes.
  • Completes and stores all necessary legal documents such as the Transfer of Land.
  • Discharging the mortgage and removing from the title.

Can you do your own conveyancing?

Many home owners or potential home owners ask the question “can I do my own conveyancing?”

While it is a complicated process there is nothing stopping you from saving money and doing your own conveyancing. The important thing to remember though is that this only saves you money if everything goes smoothly.

There are plenty of reasons why you’re better off hiring an experienced professional to protect your interests.

Complications

Property transactions are not always free of complications. Contracts of sale can include special conditions, restrictions on the property, council complications etc. If you’re doing your own conveyancing you’ll have to research all of these aspects as they arise and have a clear enough understanding of them to act appropriately.

Access of Information

Part of the process involves property searches for information such as road access, planning restrictions, zoning regulations and council rates or notices. If you don’t have existing access to these searches (which a conveyancer does), you’ll have to contact each individual regulator and pay for each search.

Insurance

Conveyancers are covered by Professional Indemnity Insurance as a requirement of their qualification. This protects them, and you, against significant financial loss in the event of something going wrong in the conveyancing transaction. 

Time

Doing your own conveyancing may save you money but it will almost certainly take more time for you to research and go over all the documents, compared to a professional conveyancing lawyer who goes through this process on a regular basis.

While you can do your own conveyancing there are plenty of risks involved with doing it alone. By hiring a professional conveyancing lawyer you not only save time and stress, but you also avoid many of the risks involved with buying or selling a property. Those risks could cost you thousands of dollars and your potential new home.

If you’re looking at buying or selling a property on the Gold Coast talk to us at Davoren Associates. Our conveyancing lawyers have years of experience dealing with residential and commercial property transactions.