What is conveyancing?
In general term, conveyance is the name of legal transfer of property title from one person or party to another. Usually it involves three stages, before contract, completion and after completion.
How long does conveyancing process takes?
No one can give an estimate how long conveyancing process will take. Because multiple parties are involved in the process, so everyone has to do some work at their end. Our involvement in settlement starts when you enter into contract. And this process completes after you receive payment and title transfer done at the relevant office.
Why do I need a conveyancer?
Conveyancing can be done without the help of legal conveyancer but it requires extensive knowledge and experience of all procedures and requirements. During the process, a little mistake can result in various problems and delay in settlement. To avoid all these situations, you must hire a professional and licensed conveyancer who will not only assist and help you but will also protect your legal rights and assets.
Who informs authorities about your property buying?
It is conveyancer’s responsibility to inform relevant authorities about change of ownership of your property. A notice of acquisition including all the property details will notify council and other authorities.
How would you define settlement?
If you are going to buy a new home or property, settlement would be the finishing stage in which buyer and seller meet at scheduled date and time to exchange legal documents. After that property transfer takes place to complete the transfer process.
What is stamp duty when I buy a property?
Stamp duty is government fee and it is an expense which you have to pay when buying a property. It varies and depends on property value and can be calculated by clicking on calculate on on State Revenue Official Website.
Do I need to attend meetings?
In case of hiring a conveyancer, you don’t need to attend settlement meetings. We update our clients via best possible channels with settlement process. But if you require your physical presence, we inform you and ask you to attend the settlement meeting.
How much stamp duty I’ve to pay?
For first home buyers, there is no stamp duty in case of property value is less than $600,000 from July 2017. And rate is reduced only in case if property value is less than $750,000 and greater than $600,000.