fbpx

What is conveyancing when buying a property?

Through the complex process of buying a property, Dev Smith Nguyen always do our best to accompany by you. We can assist you by the following-mentioned but not limited to tasks:

  • Contract checking: our experts will review any prospective contracts before you sign and offering independent advice as to what the special conditions mean to you as the vendor
  •  Advisory services: advising of any information disclosed in the Form 1
  • Encumbrance checking: checking whether there are any Encumbrance either registered or to be registered on the Title are explained to you and dealt with appropriately
  • Document preparation: arranging for the fully signed documentation to be sent to us from the real estate agent
  • Insurance: advising you of the requirement to take out insurance immediately
  • Advise on “joint tenants” or “tenants in common”: contacting you once we have the necessary documentation from the agent to discuss how you wish to hold the land (ie “joint tenants” or “tenants in common”)
  • Deadline follow-up: ensuring that special conditions are complied with by the due date
  • Memorandum of Transfer preparation: preparing the legal documentation (Memorandum of Transfer) necessary to transfer the property which is lodged at the Lands Titles Office at settlement
  • Advising on Stamp duty & Fee payable: advising you on the stamp duty and registration fees payable
  • Updating with outstanding charges: obtaining and examining the title and statutory searches to ensure that there are no outstanding charges on the property
  • Liaising with your mortgage broker and/or financial institution: Keep in contact with them in regards to your mortgage and sending them copies of the Memorandum of Transfer
  • Rates and Taxes: checking that all rates and taxes are adjusted correctly by the Vendor’s Conveyancer
  • Settlement Statement preparation: preparing a settlement statement and forwarding it to you prior to settlement so that you are aware of all the costs
  • Stamping of transfer ready for the settlement: arranging for stamping of the transfer and any other documentation prior to settlement
  • Financial check: confirming all amounts provided by your incoming financial institution
  • Tracking with the whole timeline: liaising with all other parties involved in the transaction regularly so as to ensure time frames are met
  • Bank cheque arrangement: arranging for bank cheques from your financier to be available for settlement
  • Settlement meeting on your behalf: Co-coordinating and attending the settlement at the Lands Titles Office on your behalf which generally occurs between 11.30 to 1pm
  • Telephone advising about the settlement completion: we will inform you by telephone as soon as settlement has been completed and then sending a final confirmation to you by post
  • Sale proceed deposit: Depositing the proceeds of the sale into your nominated account
  • Notifying related parties of the completed settlement: we will inform Real Estate Agent that settlement has been completed; notify Council and Water Company of the change of ownership (and Strata Manager if applicable) and pay any outstanding amounts
  • Confirmation of water use adjustment: we will confirm that that the water use has been adjusted to the settlement date and paid by the Vendors
Buying Property, Conveyancing
Share on facebook
Facebook
Share on linkedin
Linkedin

Related Articles

Tips for buying land to build new home, What to know when buying land, land for sale

Tips for buying land to build a new home

Our professional team has gathered the following valuable tips which might be available to avoid possible discouraging sentiments when you have intention of having a built house in the country.

Check list when buying unit property or lot property

Checklist when buying a unit or lot property

Before signing a contract of purchasing a unit or lot property, you should make sure that you understand the operations, finances as well as related information. Help yourself by
noting down the checklist of buying a unit or lot property.

Follow us

Let Our Experience Be Your Guide 

Get Your First Consultation Now

Legal Insight

Advoiding common real estate traps
Avoiding common real estate traps

Purchasing a property is an important financial and legal commitment. Don’t do it yourself. Get a professional who knows the process inside and out.

Sign business contract
Tips before signing a business contract

A business contract is a legally binding agreement between two or more persons or entities. It is recommended that you bear in mind some tips below before the official signing.

Subscribe to our newsletter

Save time

Book Appointment

Whether you want to book an appointment or get enquire, just go from here.

iLawyer

Go online and self-book to join your appointment by remote video or phone call.

We can help

Scroll to Top

Request a call back now