Conveyancing is the process of transferring ownership of a property, and it’s surprisingly complicated. There are many factors that go into buying a house, but you can’t just skip this step. If you’re looking to buy your first home or upgrade to your dream home, then read on for more information about what conveyancing entails.
We’ll cover everything from how long it takes to complete the process, who does what during the process and how much it costs – plus we’ll address some common concerns like whether there are any risks involved in using an online service company. With all these questions answered, hopefully you will be able to make an informed decision when choosing which type of conveyancer best suits your needs!
So, what’s involved?
The conveyancing process can be quite complex. The first part of conveyancing involves a search to find out if the property is owned by anyone else – or attached to any debts. This will cover checking that there aren’t any caveats on the property and whether there are any restrictions that could cause problems down the line. A conveyancer will also check you have been given all the documents needed for the conveyancing process, as well as search titles for anything suspicious.
In cases where properties are being bought from a developer, conveyancers may need to investigate two titles as ownerships may not yet have been registered correctly. At this point, conveyancers must make sure they’re holding all the paperwork and documentation needed to complete conveyancing.
Once this step is complete, conveyancers will need to find out what conveyancing documents are required for your property purchase – such as a Title Transfer, a Value Declaratory Statement, or a Wording Interpreter’s Report. Once you have been given all of these documents from your conveyancer, it’s time to prepare them so they can be sent off with the Property Transfer.
This can be quite an involved process depending on which documents you’re using – but luckily most online conveyancers offer document preparation services to handle this part for you!
When the contracts have been exchanged and the purchase has ‘completed’, this is when conveyancing is officially completed.