what is the basic role of a conveyancer

Viewing 3 posts - 1 through 3 (of 3 total)

gavsam
Member
@gavsam
Join Date: 2010
Post Count: 16
June 18, 2011 - 11:36 am
Hi
I have engaged a Conveyancer to organise the purchasing of a property on my behalf.
I have found this conveyancer to be difficult, and has made to feel uncomfortable when asking questions and seeking clarifications on things that I am interested in and not familiar with.
Could someone advise me of the basic steps a conveyancer needs to attend to in organising a purchase of a house.
And am i within my right to seek the result / (even a copy) of the title search that my conveyancer does, a few days prior to the settlement date, or is this not necessary and am I as such deemed to be 'questioning' my conveyancer's workmanship, so to speak.
As its a big step, buying a house, I want to know its done right, and wonder what is fair and what am I entitled and what I should expect my conveyancer to advise me of in the lead up to settlement etc,
I want to sleep at night knowing that all the steps that are needed to be taken , are done, and are done correctly and of what I should be receiving and being updated by my conveyancer on prior to and at settlement.
Hope someone can help me please
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
June 18, 2011 - 11:20 pm
Yes, you should be able to see the title search – what if it is the wrong property?
The trouble with conveyancers is that the are too cheap and have to do too many deals to make money and they therefore don't like to chit chat.
There role is to, basically, do all searches that haven't been done, organise the signing of transfers and settlement figures. They then book in settlement and attend exchanging cheques, title deeds, mortgage discharges with the other side and the banks.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
jdufall
Participant
@jdufall
Join Date: 2010
Post Count: 24
June 19, 2011 - 1:12 am
Hi Gavsam
In WA most transactions are through a conveyancer or settlement agent. This is a basis flow of what happens over here…
Settlement & Conveyancing Process – At a Glance
Settlement agents reduce the confusion of the settlement process. The following is a step by step summary of a basic settlement.
1. You list xxxxxxxxx Settlements as your settlement agent or conveyancer on the offer and acceptance form when buying or selling.
2. The selling agent forwards us the contract.
3. We contact you to confirm your details and prepare initial documents, including an authority to act on your behalf. We also contact your real estate agent.
4. Once the buyer receives finance approval, we commence preparation of legal documentation and make the necessary enquiries of authorities.
  At this point we also contact your bank requesting them to commence document preparation, and also your real estate agent to ensure any reports required in the contract are ordered.
5. We contact both yourself and your bank to ensure documentation is complete and have been signed, confirm funds available from, or required by the bank, and that the bank is ready to proceed to settlement.
6. The final inspection is completed between buyer, seller and the real estate agent, usually 5 to 7 days before settlement so there is time to ensure all conditions of the contract have been met.
7. After final inspection and satisfaction (or waiver) of all conditions, you instruct us to proceed to
  settlement.
8. Once settlement has been booked with all parties, we advise both you and the real estate agent of the date and time.
9. We attend settlement on your behalf and advise both you and the settlement agent immediately afterwards that settlement has taken place.
10. You move into your new home, or out of your old home, as the case may be!
Most of the work is done by the conveyancer and all I had to do was to check and sign documents…
Cheers
John