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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
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