This is a brief overview about what to expect from your conveyancing transaction. Read about important issues affecting the sale or purchase of what is typically your most valuable asset.
Purchasers: After you have talked to your banker or broker and started to look for properties.
Vendors: When starting to look for a real estate agent to engage.
Often a real estate agent might refer a conveyancer.
Real estate agents and conveyancers have a different role. The agent's purpose is to sell a property and finalise transaction quickly and desirably for a higher price. Conveyancer's purpose is to assist the client in selling or buying a property safely protecting them from unexpected losses and potential litigation. Therefore, when you use a conveyancer referred by a real estate agent, you must keep in mind the conflict of interest that can arise from the previous relationship between your real estate agent and a conveyancer which could jeopardise your interests as a client in situations of dispute.
Most of our clients come to us through word of mouth. We have a relationship with a small number of real estate agents who value our expertise and independence that guarantees conflict of interest free services. We never pay commission to real estate agents. Those that refer clients to us know that the interests of our clients will always be a priority, and we add value to their own expertise in selling a property through us ensuring any transaction proceeds smoothly.
When you first contact us, we will send you a written quote so that you can understand what you might pay for your conveyancing. We will also talk about our professional indemnity insurance. Please also read our page about pricing.
We will need your instructions to act for you or engage us in writing.
Purchasers: When you have found a property and are ready to make an offer, you will ask us to review the contract. We do not charge anything for this, it is our free service (for up to three contracts). Please read our page about contract reviews. We cannot negotiate contract terms for you with the real estate agents, but we can advise on what clauses are risky for you as a buyer.
Vendors: When you have found a real estate agent and are ready to put your property on the market, you will instruct us to prepare a Contract of Sale and Section 32 Statement. To prepare a Contract of Sale and S32 we will need to order several searches from the authorities including council, water, Land Victoria and your building Owners Corporation Manager (if applicable). In some instances depending on the property will order additional rarer searches. As soon as necessary searches are received, we prioritise preparing that Contract and S32 Statement and forward it to the agent. Please note that unlike other firms we are a professional practice and we do not take shortcuts placing you at legal risk by simply using copies of your rates and levies notices. We recommend when obtaining a quote, you clarify with any conveyancer whether they intend ordering proper searches.
Then we will work behind the scenes to prepare your transaction to settlement, work with the other side, lenders and authorities.
Once we receive a signed Contract, we check that it was completed properly by the agent in forming a legal binding Contract, and will ensure that the deposit is paid on time and finance approval from the purchaser's lender is successfully received.
About a week before settlement, we will send you calculations of amounts payable at settlement for you to check and ask questions.
You do not need to attend settlement; it is all done electronically nowadays in electronic settlement platforms.
Even though the settlement time is usually set, it sometimes can take the whole business day to settle if either the other side or one of the banks is not ready or signed off in e-settlement platform. Whilst relatively rare, please be aware that this does occur on occasion and the parties do have the legal right to settle at any time up until 4:00pm on the due date, regardless of any previously arranged time.
After settlement is finalised, we will contact you and the real-estate agent to notify. They will typically release keys after settlement is confirmed.
Always verify bank details before transfers by phone or in person. Read the story of a QLD couple that lost their house deposit to online scam Gold Coast couple loses $250,000 house deposit in spear phishing scam read more →
Since August 2024 Victoria has scrapped paper titles and now all titles will be electronic with the conveyancing firm holding control over titles when there is no mortgagee involved. The title can be transferred at anytime post settlement to another firm or a mortgagee if mortgaging post settlement. It is now more important than ever to use a trustworthy conveyancing firm who will be holding control of your title post settlement, Anchor Conveyancing prides itself on being highly reliable with a track record of efficient communication. Please do not hesitate to contact us for all your conveyancing needs. read more →
Whilst every effort has been made to present accurate information, Anchor Conveyancing makes no warranty as to the accuracy or currency of the content of this website and any articles or links. This website should be used as a guide only and must not be relied upon. You must seek professional advice before undertaking any course of action.