MyRate Education Centre
Conveyancing
When taking a home loan you are advised to enlist the help of a solicitor or a conveyancer. They will look after the transfer of ownership for the title/property for you.
It’s up to you to make a choice between a solicitor and a conveyancer, but you should consider the level of expertise: a conveyancer focuses only on conveyancing.
When should you get a solicitor/conveyancer?
- Get your finance pre-approved first so you can look around for properties within your budget.
- After pre-approval and before you sign the contract of sale, you should find a solicitor/conveyancer.
Be sure to choose someone who:
- Can provide the level of service you’re after
- Is accessible/local
- Is someone you can communicate with easily and that you are comfortable with – this will save you a lot of stress!
Once you have made that decision, their duties include:
- Checking your loan documents (ideally, however not all will do this)
- Checking the contract of sale
- Liaising between yourself and the lenders solicitor
- Performing title searches
- Acting as your legal representative for the transaction
- Checking if there are any rates outstanding on the property (e.g. water, council…)
- Checking the contracts for adverse clauses
- Helping you understand the process, and answering any questions you have
Tips:
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| Send the contract of sale to your solicitor/conveyancer for checking before you sign, or negotiate a cooling off period, to allow time for them to check for problems. |
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