Anybody who has bought or sold a property knows that it can be an emotional, stressful and sometimes overwhelming experience. Regardless of whether you are buying or selling a home, knowing something of the conveyancing process can help you understand the legal intricacies of just how property is transferred from one owner to another.
Although the details differ depending on each situation, there are typically three stages of a conveyancing transaction which take place before the contract, from contract to settlement, and after the settlement.
In most instances, the conveyancing process starts from the moment you express an interest in the purchase of a property. As a purchaser, you will generally pay a deposit when you place an offer on a property, but this does not mean you are protected or that the property can’t be removed from the market. The transaction only becomes official once both parties have signed the contract with mutually agreeable terms. It is at this stage that you want to involve your conveyancer in creating or reviewing the contract of sale.
After contracts are exchanged, and payments for stamp duty are being arranged, mortgage agreements are examined, and final inspections are carried out, it is at this stage that your conveyancer works hard to ensure that the settlement runs smoothly - calculating settlement adjustments for council and water rates and ensuring that there are no planned developments that may affect your property.
When the settlement date arrives, your conveyancer, or their agent, will attend settlement on your behalf and along with representatives from the vendor and respective banks, exchange transfer documents, relevant stamp duty forms, and any other legal documents required for settlement. During this process, the sum owed to the vendor is paid along with any adjustments and legal fees.
While you may now breathe a sigh of relief knowing that you are the proud owner of a new property, for your conveyancer, it’s not over yet. After the Settlement, your conveyancer will then ensure the transfer documents are registered with the Land Titles Office to formally change property ownership, discharge any existing mortgages, withdraw any existing caveats and transfer the title and mortgage to the new mortgagee.
Experienced conveyancers like the Conveyancing Exchange in Newcastle recognise that buying or selling a property is not only emotional and expensive but is fraught with legal complexities and risks.
Whether you are selling or buying a property they make certain that you are in control and guided throughout the buying or selling process and that your legal interests are protected.
Licensed Conveyancer and principal of the Conveyancing Exchange, Helen Polemis is an established Certified Practising Conveyancer with many years of experience in handling property transactions for her clients.
With a career spanning 30 years, Helen is one of the most experienced conveyancers in Newcastle and has seen it all. In that time, Helen has also kept abreast of the latest conveyancing technology and in 2016 was the first conveyancer in Newcastle to perform a property transaction using electronic conveyancing services.
Since the beginning of her professional independence, Helen's mission has been to remove the stress from what is arguably one of the largest transactions of our lives, with a passion and experience that goes above and beyond expectations.
For Helen and her team, every client and every property is a uniquely different matter and so much more than just another ‘’cookie cutter’’ property transaction.
‘’Our clients describe dealing with the Conveyancing Exchange, as having a friend in the game’’ says Helen.
‘’We are there when they need us, handling every detail of the property transaction, guiding them and keeping them involved and updated at all times.’’
‘’At the Conveyancing Exchange, we try to make it an easy decision for our clients, by focusing on delivering value and providing highly competitive fees. We also like to think of the Conveyancing Exchange as a one-stop-shop - a place that ensures our clients are provided with a seamless and stress-free process and without the need to shop around.’’