If you are looking to purchase your first home, the term “conveyancing” may not be something that you’re entirely familiar with. As a newbie to the game, the conveyancing process can be one that seems incredibly complex and somewhat confusing. Thankfully, property conveyancing sounds a lot more intimidating than it actually is. Today, we bring you a first home buyer’s guide to property conveyancing and go through everything you need to know about it in order to successfully transfer ownership of a property to your name. Read on to find out more!

Defining Property Conveyancing

In order to better understand conveyancing, we need to look into its definition. In a nutshell, the process of property conveyancing is one that involves the transfer of ownership of a property from a current owner (also known as the seller) to a new owner (purchaser or buyer). As such,  property conveyancer is the middleman who will prepare all necessary documents for the transfer of ownership. A good property seller conveyancing service will be able to clearly explain and outline the meaning and importance of each process to help you fully understand any documentation that you may be required to sign.

Generally, property conveyancing consists of 3 stages that include:

• Pre-Contract
• Pre-Completion
• Post-Completion

The Responsibilities of Your Property Conveyancer

Now that we understand the definition and need for property conveyancing, let’s have a look at the roles and responsibilities that your property conveyancer will undertake. If you are purchasing  a property, an experienced conveyancer will be able to assist you in the following matters:

• The prepare, clarification and submission of important legal documents 
• Thorough research on your property of choice, including its title deed
• and submit legal documents 
• Placing your deposit money in a trust account
• Calculating adjustments of taxes and rates 
• Assistance with property settlement

Conveyancing Costs

Of course, as a first time home buyer, you may be wondering how much you might be expected to spend on property conveyancing. Afterall, purchasing a home is an expensive commitment and it's important that you keep track of your budget and expenses. Generally, there is no one universal fee for conveyancing, and costs can greatly vary depending on your conveyancer of choice.

As with everything else, it is important that you do your due diligence in order to find a rate that suits you best and to get multiple quotes or research online. Using a conveyancer is almost always cheaper than enlisting the services of a solicitor, which is also something to keep in mind. 

Do I Need A Conveyancer? 

Another common question amongst first time home buyers is whether you actually need a conveyancer, or rather, if it is a legal requirement of purchasing a home. The quick answer here is no. While there are no legal requirements for home buyers to use the services of a property conveyancer, it is still something that is highly recommended and can save you much stress and potential costs that may crop up should you make any mistakes. 

For example, when purchasing a property, one is required to prepare a statement of adjustments which may be intimidating for someone who is inexperienced, and a property conveyancer will be able to handle not just your statement of adjustments but every other legal aspect of the purchasing process with the help of their experience and expertise. 

Choosing Your Conveyancer

As touched on earlier in this article, doing your research and looking at your options when searching for a conveyancer is always recommended. It is also important that you look into the background of your chosen conveyancer in order to ensure that they have a good reputation and are qualified to do the job. 

Lastly, rules surrounding conveyancing may vary from state to state, which is why finding a local conveyancer who is situated in the same state as your purchased property is always beneficial. 

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Property conveyancing can seem like a slightly overwhelming task to those who are inexperienced in the field of purchasing properties. Thankfully with the help of an experienced and reliable property conveyancer, this stress of handling various legal aspects of property ownership is greatly reduced, allowing you to place your focus on the excitement of owning a new home.