Licensed Conveyancer

A licensed conveyancer is a non-lawyer conveyancer who has been licensed to perform conveyancing tasks within a real estate transaction. They can handle a broad range of legal work surrounding the buying and selling of property and advise you on the Dos and Don’ts of buying your first home.

Some first home buyers are extremely strapped for cash, and attempt to opt for DIY conveyancing. This is not always such a good idea – when you are buying your first home and are unfamiliar with the property market and property transactions as a whole, it is often best to turn to a licensed conveyancer with practical experience. You will require a licensed conveyancer to transfer the title upon settlement anyway – so it is best, for your first time around, to just get them to handle the entire conveyancing process.

Conveyancing is the process in which the ownership of buildings and land you are purchasing will be transferred into your name, from the name of the previous owner. The current title of the property sits with the Land Title Office in your state. There is a lot of paperwork involved with transferring titles and checking Land Title Records within the conveyancing process.

A conveyancer will also take care of checking the property is not subject to any council easement plans or does not form part of a future planned highway that will run through the area.

This information comes from the Land Title Office in your state and territory again – and the conveyancer will charge you to access it, because there is a fee for them to find the information themselves.

The difference is, the conveyancer should know what they are looking for, whereas a first home buyer might fall victim.

In saying that, while it is important to trust your conveyancer to take care of the transaction of buying your first home, it is also important to watch the process carefully to ensure the settlement process on your home goes as smoothly as possibly.

The list below is the stages involved in the conveyancing process.

Arrange bank finance

It is highly advisable you have finance organised before you put an offer on a home. This is your issue in the first instance, in that you must secure the finance, and details of the finance acceptance needs to be sent through to the conveyancer at the earliest possible time.

Make an offer and have the offer accepted

This will be your domain as the home buyer. The conveyancer can provide you with prior advice though, especially if you are making a bid at an auction.

Offer of Acceptance Paperwork

The conveyancer will need to see this immediately after you have signed it. Sometimes the real estate agent will fax it to your conveyancer on your behalf.

Sign the Contract of Sale

The conveyancer will need to see this before you sign it and may offer you some advice about what sorts of conditions it may need.

View seller contracts

Your conveyancer will request these from the real estate agent.

Searches and Title Requisitions 

This will be done by your conveyancer through the Land Titles Office.

Transfer of Property

A certificate handled by the conveyancer, this will require your signature and you must check all details carefully.

Arrange settlement, Adjust rates if necessary. These are steps taken by your conveyancer, but you need to be very aware of every step that is made at this stage of the transaction.

Settlement

This should be one of the happiest days of your life! With the transaction complete you can grab the keys and move into your first home! Congratulations!