What does a conveyancer do?
A conveyancer is responsible for ensuring all legal requirements and obligations are met in your property transaction. Put simply, we do the paperwork. Common types of conveyancing transactions Peter Fisher Lawyers help with include:
- Purchase of property
- Sale of property
- Matrimonial property transfer (as a result of a property settlement)
- Transmission (transfer of a property into the name of the Executor of an Estate)
- Application to note death (when there is a surviving party left on the title)
Conveyancing matters can be riddled with legal terms that are hard to understand and can make the process stressful. Adding to this pressure, property transactions have an inherent time deadline (settlement date) to meet and there are often obstacles that pop up along the way. For example, a caveat being listed or a previous mortgage that was not discharged correctly. Employing a conveyancer to handle the matter for you allows you to focus on other things, like moving, to your new property, rather than the legal stuff.
PEXA is the electronic lodgement network upon which conveyancing transactions occur. PEXA stands for Property Exchange Australia and is a national online system for lodgement of property transactions. The introduction of PEXA means that lodgements can occur online without the need to attend the Land Services SA building in the Adelaide CBD.
Costs and Time
At Peter Fisher Lawyers, the cost of handling conveyancing matters is Peter Fisher Lawyers fees and disbursements are usually fixed and it is the same amount whether you are the vendor or purchaser. (The variable costs are disbursements which include the government charges, taxes, or other fees. For example, to conduct a title search or stamp duty).
On top of our costs and disbursements, there are some additional costs to be aware of:
- Other Fees, disbursements, and adjustments.
- PEXA fees;
- Land Services SA fees;
- Discharge of mortgage fees;
- You may also need to cover adjustments at settlement. Adjustments are not costly but are reimbursements to the other party for bills they have paid in advance. Common adjustments are Council Rates, the Emergency Services Levy, and Water Rates.
The time it takes to complete a conveyancing matter depends on your settlement date. A typical conveyancing matter will take around 30-90 days because we are contacted in the early stages of the sale or purchase. However, if your settlement is urgent, we are likely to still be able to handle your matter on time. You can contact our office to discuss your specific circumstances.
How to make your conveyancing matter by being prepared?
If you want to achieve settlement by a certain date, there are steps you can take which will ensure a smooth sailing process.
Regardless of your role, you will need up-to-date identification documents that reflect any name changes. The most common combination of documents is a Driver’s Licence and current Passport or a Driver’s Licence and a Birth Certificate. If you are unable to provide these documents, contact our office to discuss your options.
If you are the vendor and there is a mortgage listed on the title of the house, you can contact your bank to prepare the discharge of mortgage documents.
If you are the purchaser and you require finance, you can contact your bank to seek pre-approval and start the application process.
Contract and Form 1
If you are the vendor, it is your responsibility to have the contract for sale and Form 1 ready to go.
If you are the vendor, you need to keep the property insured until the date of settlement.
If you are the purchaser, you need to insure the property from the date the contract is signed.
Contact Peter Fisher Lawyers on 08 8296 2690 to talk with one of our conveyancing staff, about how we can assist you in your next property transaction.