• Purchasing property will undoubtedly be one of the most expensive transactions of your life. Regardless of whether it is residential or commercial, buying property comes with a slew of contracts, timelines, regulations and other legalities. This is especially the case when it comes to settlement. The final – and most crucial - part of the sales process, settlement is when payments are paid, and contracts and paperwork are signed after an offer has been accepted. In order to ensure this process goes ahead as smoothly as possible, the services of a local, experienced property conveyancer or settlement agent are usually employed. A conveyancer acts as part legal advisor, part consultant and part liaison offer, all on your behalf.

     

    What do Conveyancers Do?

     

    For the buyer

    The duties of a conveyancer include the following:

    • Review and lodge the Contract of Sale and other important documents on behalf of the buyer with their best interests in mind
    • Undertake research regarding the sale property, such as checking the Certificate of Title, easements, planning restrictions and flagging any other potential issues that may need addressing
    • Ensure the correct amount of money is paid into an independent trust account as a holding deposit
    • Liaise with your bank to ensure the correct funds are available to be released by settlement day
    • Liaise with the conveyancer on the seller’s side
    • Settle the property

    For the seller

    The duties of a conveyancer include the following:

    • Prepare the Contract of Sale and a Vendor’s Statement
    • Provide a Certificate of Title to the buyer
    • Assist with any tenant notifications, if applicable
    • Liaise with the conveyancer on the buyer’s side

    When Should I Hire One?

    In Western Australia, a seller is legally required to appoint a conveyancer once an offer on a property has been accepted. However, the appointment of a conveyancer for both buyer and seller should ideally start far sooner than that. It takes time to adequately prepare legal documents, such as a Contract of Sale, or conduct research on the property in question. If you’re selling a property, hiring a conveyancer early means they will also be able to help you choose a settlement date most suitable for you.

     

    Crescent Conveyancers

    When choosing a conveyancer, it is always best to go with somebody who has a deep understanding of the local market and plenty of industry knowledge under their belt. Crescent Conveyancers was established over 35 years ago and has a wealth of experience settling residential, commercial and industrial properties, as well as vacant land, here in Perth. As a member of the Australian Institute of Conveyancers in Western Australia, the team possesses a strong industry network that includes surveyors, land developers, banks, brokers, and real estate agents.

     

    There’s no doubt that the legal processes that come with buying and selling property can be complicated, and it often takes a team effort to ensure the transaction goes ahead as efficiently and effectively as possible. To discuss how we can help you with your settlement obligations, contact one of our friendly professionals today on 9791 1577.

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