Conveyancing explained

Buying – what we do for our fee

When buying a residential property this is what we do for our fee (plus normal searches and outlays)
  • Check the contract terms with your instructions before you sign (if required);
  • We provide you with a summary of the process of buying;
  • We assist in building and pest inspection issues;
  • We assist in the finance condition if applicable;

At this point, if the contract does not proceed because of building and pest issues or finance issues, you may terminate the contract – we close our file at no cost to you if it has not proceeded to unconditional.

  • Once the contract is unconditional we complete all required searches and provide you with details and we check all searches;
  • We liaise with the seller’s solicitor in preparation for settlement as required;
  • We liaise with your financier as required to ensure a smooth settlement;
  • We prepare and submit the required conveyancing documents and check their execution is correct so you get property Title;
  • We prepare and submit all Office of State Revenue documents and calculate all duty and lodge your duty;
  • We arrange and coordinate settlement with your bank and the seller and ensure seller’s bank release is available and correct at settlement;
  • We calculate the amount required to pay for the property – this includes calculation of payments to:
  • Seller’s bank
  • Any outstanding Rates
  • Any outstanding Body Corporate fees
  • Seller’s commission
  • Any other outstanding debts of the seller to clear the title, or as due under the contract
  • At this point you pay the fees and outlays and the Stamp Duty as well as any balance you are to provide to settle not provided by your bank;
  • We attend at your bank or the seller’s bank or solicitor on settlement and check that you get a free and clear Title;
  • We provide an accounting to you after settlement including a statement of payment of purchase monies;
  • We store your file for you for seven years as required by legal authorities.

Selling – what we do for our fee

Our residential conveyance fee for Sellers is a fixed fee and included the Title Search.

Generally – no settlement – no charge if it has not proceeded to unconditional.

  • If asked, we provide advice prior to the signing of the contract at no extra charge;
  • When we review the contract we check all the details to ensure they are correct and include them in our computer programme;
  • We contact you to check details of your mortgage (if applicable);
  • We ensure you arrange signature of the Mortgage Release;
  • We ensure compliance with contract terms by the buyer and ensure that conditions and time limits are met;
  • We check on buyer’s finance by the due date;
  • We check and assist in building and pest issues by the due date. This sometimes involves considerable negotiation at no extra charge. Other firms charge for these negotiations. We liaise with you and the seller’s solicitor on this;
  • We check on Rates and charges issues or other council issues;
  • We check and arrange signature and witnessing of conveyance documents;
  • We check all settlement figures based on all the buyers searches to ensure that you receive the correct settlement adjustments – or – ensure that the buyer does not incorrectly adjust against you;
  • We arrange for settlement with your bank (if applicable) or for you personally;
  • We attend at settlement and ensure the correct distribution of monies and the Release of your Mortgage and in exchange we hand over the legal conveyance documents;
  • There are no extra charges for extensions of time on settlement which are generally charged by other firms;
  • We ensure necessary authorities are informed;
  • We provide you with final settlement statements;
  • We store your file for seven years as required by legal authorities.

Liability limited by a scheme approved under Professional Standards Legislation.

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