It is legal to do your own conveyancing. However, conveyancing work is technical and specialised, and if it is done incorrectly you could risk the settlement falling through or give rise to a court claim down the track. Engaging a conveyancing professional will save you time and give you peace of mind that your property transaction will be dealt with as the important event that it is.
Conveyancers undertake the preparation and lodgement of a number of documents involved in your property transaction. They calculate the amounts due to various statutory authorities and adjust those rates between the incoming and outgoing property owners. For a more detailed look at the steps of the process, click here.
It is most common for people to engage a conveyancer once the contract of sale has been signed by all parties.
However, if you are buying a property, we encourage you to speak to us before signing if you want independent advice on the terms and conditions of the contract being offered to you.
If you are selling your property, and you wish for us to prepare the Vendor Disclosure Statement (Form 1) instead of your real estate agent or a practitioner chosen by them, then speak to us as soon as possible after deciding to sell your property. A Vendor Disclosure Statement takes some time to prepare, and needs to be provided to the buyer with the Contract of Sale if the cooling off period is to take effect.
Absolutely! In fact, more than ever, because you will need a contract of sale and a Vendor Disclosure Statement drawn up. When you’re using a real estate agent, he or she will either do these in house or recommend someone to prepare them on your behalf, but as a private seller the obligation rests with you. Come and talk to us before you list your home and we can talk you through the process so you can be sure that you’re meeting your statutory obligations.
Our fees are based on a sliding scale which depends on the complexity of the transaction. Please contact us and we’ll be happy to give you a quote based on your particular needs. If you require us to conduct searches, please be aware that fees are payable to the statutory authorities which will be paid for by us and then charged via a tax invoice or as disbursements.
The Verification of Identity Policy is a legislative requirement introduced in 2013 which is intended to reduce the incidence of title fraud. If you are buying or selling a property in South Australia you need to attend a face to face interview with your conveyancer or an approved agent so that they may sight your identification documents. There are a number of different documents that can be shown. When we speak with you initially we can talk you through the process and we will also send you an information sheet explaining what you need to bring to that interview.
An adjustment statement lays out the adjustment in rates and taxes payable by each party to reflect the proportion of ownership between them. If the seller has paid council rates up until the end of the financial year but sells the property in the first quarter, the rates are adjusted so that the buyer refunds a proportion to the seller.
At settlement we notify SA Water, the local Council, Revenue SA (Land Tax & Emergency Services Levy) & the Strata/Community Manager if applicable. We don’t deal directly with your privately owned utility companies (such as gas, electricity or telephone); you will need to notify these providers yourself. Should you require assistance with your privately owned utilities, we can refer you onto a provider that can assist you with this.
If the transaction is smooth and any required finance is approved efficiently, a typical period of time between signing the Contract of Sale and settlement is between four and six weeks. This may vary for complex transactions, unorthodox financing arrangements or subdivisions. We will keep you updated on any delays and changes in the expected timeline.