What Is Conveyancing And How Does It Work?

June 23, 2023
3:33 pm

Are you in the process of buying or selling property and find yourself grappling with legal jargon? Let’s demystify one term you’ve probably encountered: conveyancing. Conveyancing is the legal transfer of a property’s ownership between parties and is an essential part of buying or selling a home.

What Is Conveyancing?

It refers to the legal process that takes place when property ownership is transferred from the seller to the buyer. It begins after an offer has been accepted on a house and ends when the final contracts have been signed, making you the new owner. This process is crucial to ensure a legal and hassle-free property transaction.

What is a Conveyancing Lawyer and What Do They Do?

A conveyancing lawyer is a legal professional who specialises in the field of property law. Their role is to facilitate the smooth transition of property from one party to another. Their responsibilities include, but are not limited to:

Drafting and reviewing legal documents and relevant contracts
Facilitating communication between the buyer, seller and other involved parties
Organising and attending settlement on behalf of their clients
Providing advice and guidance throughout the buying or selling process, to ensure you understand your legal obligations and rights

Why Do You Need Conveyancing?

Conveyancing is an essential part of all property transactions in Australia. It ensures the property you are buying, or selling, is legally transferred without any unforeseen complications. Settlement is a complex process and lot can go wrong if something is missed, which could cost you your entire deposit. By hiring a conveyancing lawyer, you can ensure:

Legal Protection: Conveyancing professionals are skilled at spotting potential legal issues that could impact the property transaction. They safeguard you against these potential risks and provide legal advice when needed.
Stress Reduction: Conveyancing professionals handle the complex paperwork and legal aspects of property purchases and sales, enabling a smooth, streamlined process, providing peace of mind for buyers and sellers alike.
Regulatory Compliance: They ensure the transaction complies with all applicable state and local laws and regulations, mitigating legal repercussions down the line.

Are You Buying or Selling Property on the Central Coast?

If you’re buying or selling on the beautiful Central Coast, contact GMS Legal & Conveyancing. Our local conveyancing team have a deep understanding of the local property market and can provide you with insights on the buying or selling process.

If you’re buying a property, our conveyancing professionals can review the contract of sale and ensure everything is in order. We can help you understand the terms and conditions of the contract and advise you of any special conditions that may be necessary, such as a building and pest inspection or a finance clause.

If you’re selling a property, we can help you prepare the contract of sale and ensure it meets all the legal requirements, ensuring you disclose all necessary information about the property to potential buyers. Get in touch with our team today and let us guide you through your next property transaction!

What Is Conveyancing And How Does It Work?