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While most people know they need a conveyancer when buying or selling property, many don’t know what a conveyancer does and how they help their clients through the purchase or sale process. As leaders in conveyancing in Penrith, the team at Strictly Conveyancing are always answering questions from clients who’d like to know more about the process before jumping into the world of property. That’s why we’ve decided to answer a few of the most commonly asked questions about Penrith conveyancing right here. If you have a question that’s not answered here, don’t hesitate to reach out to one of our friendly team of conveyancing solicitors in Penrith.

A Few Frequently Asked Questions About Conveyancing

Here are just a few of the most frequently asked questions our Penrith conveyancing solicitors hear all the time.

Conveyancing is the process of transferring ownership of property or real estate from one person to another. Typically, both residential and commercial conveyancing in Penrith follows similar steps.

  • Negotiating and entering into a contract by paying an initial deposit.
  • Completing conditions such as finance approval and building inspections until the contract becomes unconditional.
  • Liaising with financiers to ensure funds are available for settlement and calculating settlement adjustments.
  • Legal documents are exchanged as well as the payment of the purchase price.

A conveyancer works explicitly with the transfer of real estate, providing advice on title transfers and taking care of documentation to ensure the purchase or sale runs seamlessly. A solicitor is a professional legal practitioner who will also have the specialist knowledge required to handle the transfer of property. While an in-depth understanding of the laws around property transfers is necessary, a conveyancer doesn’t necessarily need a legal background to provide premium conveyancing solutions.

Conveyancing can be a complex, complicated process, whether you’re looking to buy or sell. Our clients benefit from expert advice and help with relevant documentation and legal checks, streamlining the whole process.

That greatly depends on who you choose to take care of your conveyancing work and how much work there is to do. Some property transfers are straightforward and simple, whereas others can be quite complicated. At Strictly Conveyancing, we provide a fixed price for property conveyancing in Penrith, so you’ll be able to budget accordingly from the very beginning.

In both cases, a conveyancer will organise the legal documentation, check the legitimacy of ownership, provide in-depth advice on the property, complete all searches, and guide their client on all complex decisions. However, we don’t recommend a buyer and seller using the same conveyancer. It’s our job to act in your best interest, and if we’re representing two parties, there may be a conflict of interest.

Because there are so many people and variables involved in conveyancing, it can be difficult to predict how long it might take. However, most common conveyancing carried out by a professional conveyancer or solicitor should take 4-8 weeks.

Settlement is the day when the buyer pays the seller the agreed-upon price, and all documents are checked to ensure they are accurate and complete before they are handed over.

When you sign a contract to purchase or sell a property, conditions typically need to be satisfied before the sale can take place, such as pest inspections and finance approval. Once these conditions have been met, the contract goes unconditional, and it can move into the settlement phase. A settlement date will be set to exchange payment and documentation.

Essential searches are standard procedures to confirm whether or not a property is worth the investment. They are necessary in conducting due diligence, and it provides the buyers with peace of mind that the property is in good condition. Searches include;

  • Title search and title plan search. The land title search provides details about the land and property, such as names of registered owners, physical description of the property, and encumbrances such as mortgages, easements, or caveats. The title plan search shows the registered extent of the property, its administrative area, lane title number, and general positioning of the boundaries.
  • Survey plan or strata plan search. A land survey plan provides information about the dimensions of the land and the location of structures on the land. A strata plan shows the lot dimensions, building outlines, and details of entitlement or common property.
  • Lease data search. You’ll need details about the leasing of the property or land, lease agreement details, tenure of the lease, lease amounts, and all details pertaining to the lease.
  • Deeds and instrument search. This search provides information concerning the deeds or instruments such as the title deed detailing the transfer of property to the existing owner, lease or sub-lease deeds, mortgage deed, and restrictive covenants or easements.
  • Historical search. You’ll want a local history of the land and property, which can be obtained through a historical land title search.
  • Boundary search. If there are two adjoining properties, you’ll need a land title register, survey plan, and an instrument for each.
  • Right of way and right of access search. This search discloses a person’s right of way and access to and from the property or land.
  • Zoning search. You’ll need a zoning certificate from the council to show the planning controls applicable to your land or property.
  • Drain and sewer details search. This search shows the location of the internal and external service lines and the property’s main sewer.
  • Pest inspection search. You’ll need to check that the land or property is free of destructive pests that may have caused or are likely to cause damage.

Once you receive a Section 32 (also known as a vendor’s statement), you’ll be able to submit a written offer through the real estate agent. We’ll help you organise the Section 32, but you will need to contact the real estate for help making the official offer.

It’s best to start with some research. Read plenty of articles and enquire with several lenders and banks to find the right loan for you.

If you are over 18, a permanent resident or citizen of Australia, and haven’t previously owned a home before July 2000, you may qualify for the grant. However, if your partner or co-purchaser doesn’t meet these criteria, you may be ineligible.

Stamp duty is the tax imposed by your state government on the purchase of property. In most cases, a standard contract of sale imposes the liability of the stamp duty on the buyer.

During the conveyancing process, there are a few critical dates, including the contract date, the end of the ‘cooling-off period’, the finance approval date, the building/pest inspection date, and the settlement/completion date.

Some contracts have special conditions added to accommodate the needs and circumstances of the parties. These considerations are negotiated and agreed upon by both parties and can override the standard contract terms. Don’t sign a contract unless you understand the effect of the special conditions.

The transfer documents are handed over to the buyer in exchange for the balance of payment. These documents are then lodged with the titles office to record a change in legal ownership. This process can take weeks or months, depending on the time taken to lodge the documentation.

At the time of settlement, fees and charges such as rates, water, body corporate, and tax relating to the property will either be paid or unpaid. Adjustments are made to the purchase price so that each party pays their share of the fees.

Most contracts will require an inspection one week before the settlement date to ensure the property is in the same condition as it was on the day of sale. Any issues with the property need to be raised with your conveyancer so we can negotiate it as a special condition of your contract. This way, the issue will either be fixed before settlement, or we can negotiate for a lower price to cover the costs of necessary repairs.

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Why Choose Strictly Conveyancing?

If you’re looking for a conveyancer in Penrith, no one knows how to handle your property quite like the team at Strictly Conveyancing.

  • Tailored solutions. Our team of professional conveyancers will work alongside you to find the right solutions that fit your needs and budget, no matter your unique situation.
  • Award-winning practice. In 2012, Strictly Conveyancing was recognised as ‘Best Practice and Professionalism in the Conveyancing Profession” by the NSW Institute of Conveyancers. Additionally, in 2016, we were finalists in the Local Business Awards in Parramatta. We’re proud of our awards, and we consistently look for ways to be better for our clients.
  • A wide range of services. Our conveyancing solicitors in Penrith offer a wide range of services, including purchase and sales of residential, commercial and industrial property, registration of title documents, commercial and industrial leasing, buying and selling businesses, justice of the peace services, and power of attorney services.
  • Fixed fees. When you choose Strictly Conveyancing, there’ll be no nasty surprises at the end of a transaction. We quote fixed price conveyancing, so you know exactly what to expect in the way of fees.
  • We have decades in the industry. Strictly Conveyancing has been helping clients buy and sell property since 2006 and has since grown into a team of 15 conveyancers and support staff. We operate exclusively in conveyancing, so we understand the legalities and processes like the back of our hands.
    Consistent, ongoing support. Many people rely on their home conveyancer for more than just legal advice and help with documentation. Many of our clients use our unparalleled experience and expertise in the property industry to make better, more informed choices throughout the buying and selling process. No matter what stage of your purchase or sale, our team is here to help you finalise the process quickly and efficiently.

Trusted Penrith Conveyancers Since 2006

Since 2006, Strictly Conveyancing has provided a range of services in property and conveyancing in Penrith and the surrounding areas. Whether you’re buying or selling property, it’s our mission to help make the complexities of the process a breeze so you can focus on other aspects of the purchase or sale. Our Australian-owned and family-operated conveyancing practice is award-winning, and when you see how committed we are to our clients and their needs, you’ll understand why we’ve built such a strong reputation in the area. So if you’re after a Penrith conveyancer, don’t hesitate to reach out to the team at Strictly Conveyancing.

Call now and speak with one of our Parramatta Conveyancers

  02 9630 5553

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