Daily Archives: March 9, 2018

What Property Conveyance Lawyers Do

a lawyer talking to his clientsYou need some legal knowledge when buying or selling property in Queensland. The transfer of property ownership, or conveyancing, involves a few steps before the actual settlement day.

The law does not state that you need a lawyer to handle it for you. However, you can avoid many problems later on if you do. Here are the roles Townsville conveyancing lawyers play.

1. They check the buyer’s offer

If you are a seller, you should only accept an offer to buy if it involves a legal contract. If you are a buyer, you want to make sure the buyer’s offer contract includes all the conditions you want. The lawyer checks if the contract is legal and binding in either case. This will make the next few steps go smoothly.

2. They check the conditions

Accepting an offer signals your conveyance lawyer to check if the other party has fulfilled the conditions of the contract.

If you are the buyer, the lawyer ensures the seller makes any repairs needed and arranges for the release of mortgage, if any, in time for the settlement.

If you are the seller, the lawyer checks if the buyer has paid the deposit, arranged for financing, and booked the necessary inspections.

3. They check the paperwork

The conveyance lawyer will take care of all the paperwork needed. This means researching the property to look for any issue and address them as early as possible.

It also means preparing and lodging bank and legal documents as needed. This includes arranging for a property inspection and computation of all duties and taxes.

The lawyer will then compute the settlement figures and book a settlement day, which is when ownership of the property finally transfers to the name of the buyer.

Townsville conveyance lawyers take care of all the legal details in a transfer of real property ownership. They can ensure a smooth transaction for both buyers and sellers.