Before you engage a party to undertake the conveyancing of your property and the conveyancing process, it is important to consider all of your options carefully, specifically whether you should employ a conveyancer or a lawyer. The right choice will depend upon many variables, including your preferences and finances.
Your mortgage broker or real estate agent may assist you with the first steps of conveyancing, specifically drawing up the Contract of Sale for a private purchase. These professionals can also assist you in choosing the right agency to undertake your conveyancing needs.
Both conveyancers and solicitors should have a strong working knowledge of the rules and regulations in your State or Territory of the conveyancing process. If the property being purchased is a buyer’s first home or the buyer is working on a tight budget, then generally the buyer may choose to work with a conveyancer. However, if the property being purchased is considered to be an upgrade of higher value, then hiring a solicitor may be better. This is because there is more risk associated with the higher value home.
At the same time, if the property being sold has a low price, then the seller will usually want to work with a conveyancer. A solicitor will usually be hired when the property is valuable. A solicitor will also be a good choice if the sale is due to be complicated, whereas a straightforward property settlement may be handled by a conveyancer. Examples of complicated sales could include off the plan purchases or when a plan of subdivision is required.
People often make the mistake of engaging a property transfer professional to handle their property settlement based merely on price. Although both conveyancers and solicitors can perform many of the same tasks, their differences lie in the more complex matters.
When deciding between a solicitor or conveyancer, it’s important to consider the current and potential future legal matters surrounding your property transaction. Solicitors have a broader knowledge of the law and are often experienced in other types of property law and legal work. If you would like in-depth legal advice surrounding your property and need legal representation, you should engage a solicitor instead of a conveyancer.
Conveyancers are experts at transferring properties.
Put simply, a licensed conveyancer helps people buy and sell houses. This includes giving advice and assistance to ensure a smooth transfer of a property from one party to another.
Licensed conveyancers only operate in their area of real property law, referred to as conveyancing.
Conveyancers role is to, complete and lodge relevant property documents; make enquiries in regards to zoning and titles; perform all necessary searches for the transfer of property, including a title search; provide information on rates and taxes; liaise with all relevant parties in the transaction, including the Vendor or Purchaser’s representative; review the property contract; prepare the Contract of Sale and Section 32 Vendor’s Statement; Dealing with any issues related to a property inspection; liaise with other relevant parties in the transaction like the lender or broker, and managing agent; ultimately ensuring a smooth transfer of property.
To become a licensed conveyancer, you need to complete a one year diploma program and then spend another year under supervision. Conveyancers are limited in the amount of legal advice they can offer clients.
A solicitor is a legal professional who is qualified to deal with conveyancing as well as other legal matters. These matters include but are not limited to: Wills and Probate, Dispute resolution and Litigation, Corporate and Commercial Law, Employment Law and so on.
Solicitors can perform a variety of services for their clients, including providing legal advice and taking legal action regarding their properties. They’re usually qualified to handle a wider range of complex legal issues related to real estate transactions than most conveyancers.
Solicitors when it comes to conveyancing, complete and lodge relevant property and legal documents; perform all necessary searches for the transfer of property including certificate of title; provide information on rates and taxes; liaise with all relevant parties in the transaction, including the Vendor or Purchaser’s representative; review the property contract; Dealing with any issues related to a property inspection; prepare the Contract of Sale and Section 32 Vendor’s Statement; liaise with other relevant parties in the transaction like the lender or broker, and managing agent; ultimately ensuring a smooth transfer of property. Solcitors have all the same capabilities of a conveyancer.
Solicitors are accustomed to working with sensitive documents, and usually have steel safes which are used to hold important documents such as certificates of title.
To become a solicitor, one must first complete a law degree, which takes a minimum of 4 years. After obtaining their law degree, solicitors usually study for three years before they qualify to practice, and obtain a practising certificate.
Budget is of course always a consideration that can determine whether you choose a conveyancer or a solicitor.
Generally, conveyancers charge less than solicitors. Lower cost can mean many things, but in general terms in conveyancing it means that the service level and follow up is normally not at the level that a solicitor can provide.
Although a solicitor may charge more, they take on fewer files and can offer a more individualised service. Another reason why solicitors may charge more is that they have a broader knowledge of the law. This allows them to offer advice on issues that fall outside the realm of a regular conveyancing transaction. If the transaction is related to a divorce, for example, the solicitor may be able to handle not only the matrimonial breakdown but also the conveyancing. They can also help with issues like tax implications and help refer you to an accountant or other professionals.
People often make the mistake of engaging a property transfer professional based merely on price.
Solicitors are fully fledged lawyers, they can help you with legal matters that a conveyancer might not have extensive knowledge of. Solicitors, for instance, can help you with issues such as tax implications and can connect you to relevant professionals.
A conveyancer who is not also a solicitor cannot advise on matters of property law, and may not be equipped to handle any complicated legal issues that arise during the course of settlement, equipped with broader knowledge of the law, solicitors are suited to handle complex property transactions that pose more risks.
A conveyancing solicitor is also duty bound to be available to their client when the needs arise, and can follow up any legal issues that may or may not arise in the future after the settlement process. A solicitor’s client can call upon a solicitor inititally for the service, but then for ongoing advice pertaining to the service as well as other legal enquiries.
A conveyancer will typically only have specific knowledge related to the aspects of buying and selling property. They can help you settle your sales, but they cannot help with other issues such as taxes. Conveyancers specialise in the property transaction but may not have the broader legal knowledge of a solicitor if a case becomes complicated.
Conveyancers normally close a file once the property settlement has been finalised.
Just as you would do when looking for real estate agents, you should talk to multiple people before you hire your solicitor or conveyancer.
Referrals are one of the ways you can find the right professional for you. Anyone themselves who has experienced the settlement process can assist. Ask your friends who recently purchased or sold their properties if they know someone who can help you with your transaction. Ask your mortgage broker if they have a relationship with a Conveyancing Solicitor, Ask your real Estate agent if they too have a relationship with a conveyancing solicitor.
You can also try looking at online services and online property forums. The most important thing is to look for someone who you trust and feel comfortable working with.
They will also prepare and certify all legal documents pertaining to the mortgage, will calculate the adjustment of taxes and council rates, organise a land survey of the property and will place the deposit money into a trust account until settlement.
Regardless of whether you are planning to buy or sell a property, Select Legal is ready to assist with the conveyancing process.
The advantage of engaging Select Legal is that all your conveyancing needs are met, whether they be standard or extremely complex, where our solicitors can attend to additional legal work required which includes drafting special conditions, drafting agreements such as a licence agreement or lease, letters resolving disputes etc depending on the requirements of each matter.
Our knowledge of the process and attentive service (as shown in our Google Review history) is what sets us apart from others in this field. Depending on the needs you have, Select Legal is ideally qualified to handle your transaction and ensure your purchase or sale goes through all the required legal checkmarks.
We also have the expertise to perform electronic conveyancing using the Property Exchange Australia (PEXA) digital property network.
Contact Select Legal today for all your conveyancing needs or request a quote which will only a few minutes.
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