An Overview of Conveyancing and the Process

 

When a property changes hands there are a lot of formalities to go through. While the buyer and seller can come to an agreement on the price, what is critical is to follow the rules and legalities so that there are no issues with the title in the future. This is called conveyancing and by definition is the process of transferring the legal title of a property from the seller to the buyer. So intricate is this process that it is always advisable to have it done by leading solicitors in the field such as Love Homes Conveyancing at lovehomesconveyancing.com.au



Without going into the intricate details of conveyancing, let’s take an overview of the process. Conveyancing includes several tasks such as contract preparation and review, doing property searches, simplifying the exchange of contracts, protecting the client from any legal issues in the future, and bringing all parties to a common ground of agreement. So complex is conveyancing that unless it is in the hands of expert and experienced solicitors such as lovehomesconveyancing.com.au things can go wrong much to the chagrin of the concerned parties.

The conveyancing process consists of 4 steps.

First, the conveyancer of the seller prepares a detailed contract for the sale of the property consisting of all the required information and disclosures and the plan of the land.

Next, two copies of the contract are made and the buyer and the seller sign them and exchange the copies. No amendments can be made to the terms of contract after this step.

The buyer will now inspect the property to ensure all that is in the contract is correct and finally, after paying the contracted amount, the buyer takes possession of the property. 

 

 

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