If you are doing renovations on your property for the purpose of selling it on at a profit, then you will have probably come across the term conveyancing. If not, you soon will. Most of us will not understand exactly what this term means so this article is for the purpose of clearing up exactly what a conveyancer does, why you need one and how they differ from state to state. So the first thing to look at is exactly what we mean by the term property conveyancing.
What is Conveyancing?
Conveyancing is the process of legally transferring ownership of land or a property and dealing with all of the associated legal processes. It should be noted that it is not compulsory to use a property conveyancer whether you are buying or selling but it is highly advisable.
But we’ll come to that later. A conveyancer will be somebody who is qualified and licensed to grant people legal advice regarding property sales, to handle all of the legal paperwork and ensure the transaction goes smoothly. As with anything legal half of the battle is understanding the technical terminology and jargon so a conveyancer will be able to help with this.
As a property seller, a conveyancer will also deal with any requests from the purchaser and act as an intermediary who will make sure all the relevant boxes get ticked correctly and that any bumps in the road are smoothed out for you.
Why Should You Use a Conveyancer?
So that is what conveyancing is but what are the benefits of using these services rather than going it alone?
It is not a legal requirement to do and it is clearly not going to be free to avail of but I highly recommend that you do use a conveyancer whenever you are selling or buying a property. I have touched on one of the reasons above and that is that they will be the intermediary between you and the purchaser who will understand all the legal terminology and fully understand the ins and outs of the entire process.
Your time will be freed up as you don’t have to have direct contact with purchasers and you will have the sense of comfort coming from knowing that legal requirements are carried out properly. Going alone could be risky as minor mistake could leave in quite a serious predicament.
Differences by State
One thing to be aware of is that property conveyancers will have different requirements and stipulations to operate in different countries. In fact, even within the same country conveyancers can differ greatly between states. For example, most conveyancers are only permitted to work within their own state but some professionals licensed to provide property conveyancing in NSW can do so outside New South Wales too.
You should fully investigate whether your conveyancer of choice is eligible to work for you across states if required and you should ask to see the relevant paperwork which backs this up.