The real estate agent had told you to hire a conveyancer. But what is a conveyancer?
What is a conveyancer?
A conveyancer represents you when you buy or sell a property. They perform the work necessary to transfer the property from seller to buyer.
What is conveyancing?
Conveyancing is the process of transferring a property from one person to another. At the time of transfer, a buyer will pay money to the seller for the property.
What is settlement?
Settlement is the time and date that a transfer of property happens. At settlement, the buyer pays the seller to become the owner of the property.
In Victoria, settlements take place online on a platform called Property Exchange Australia. Also known as PEXA. When settlement happens, the buyer becomes the new owner of the property.
How long does settlement take?
The timeframe for settlement is unique to each transaction. It is up to the buyer and seller if they want to settle in 30, 60 or 90 days, or longer. The buyer and seller must agree on a settlement date before they contract to buy or sell a property.
The settlement itself takes anywhere between 15 to 30 minutes on average to complete. During that time, payments are being processed and ownership is being transferred.
What makes a good conveyancer?
An experienced conveyancer makes the process of transferring property easy and simple. Even if it isn’t. They will:
- outline the steps in the conveyancing process upfront, so you know what to expect
- provide an upfront estimate of the amount you need to pay at settlement, to help you budget
- issue you settlement paperwork within a reasonable time and not last minute
- work with your lender to prepare for settlement so that you don’t have to do it yourself
- be transparent and open with you about conveyancing fees and when they are payable
- be available to answer all your questions and guide you every step of the way through to settlement
- provide a personalised and supportive service.
That’s exactly what we do at Proptech Legal. Because we care about you and your needs.
Need an online conveyancing quote?
Looking for a property conveyancing lawyer in Melbourne? Get your quick and easy online conveyancing quote by calling (03) 8832 8032 today.
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