Residential Property Settlements
What is Conveyancing?
Conveyancing is the transfer of legal title of property from one person to another.
A person purchasing real property must ensure that he or she obtains a good and marketable 'title' to the land; i.e., that the person selling is the legal owner, has the right to sell the property, and there is no factor which would impede a mortgage or re-sale.
A conveyancer ensures that the purchaser secures title to the land, together with all the rights that form part of the land, and will notify the purchaser of any restrictions to the property. Conveyancing is a complex series of tasks that requires specialised knowledge and skill. A Registered Conveyancer is a licenced/registered person who is qualified to advise and prepare legal documents pertaining to property transactions.
As your official representative throughout the settlement process, it’s important to choose the right conveyancer. Metro Conveyancing is committed to supporting our clients throughout settlement and beyond and will confidently answer your questions at each step along the way.
Purchasing a residential property could be the single largest investment you make in your lifetime. It’s an exciting time, but the process can be complex and stressful. As your representative, a Metro Conveyancing Qualified Conveyancer will work with you to pull all the pieces together and ensure a smooth, straightforward settlement. We are specialists in this field, and we will ensure that you receive the support and advice you require throughout the conveyancing process and even once the transaction has been completed.
Conveyancer-client communication is an important part of this process and at Metro Conveyancing, we are proud of our commitment to building strong relationships with clients.
The first step is to obtain clear instructions from you, whether we are acting as Vendor or Purchaser, to ensure we achieve the required outcome at the end of settlement within the timeframe set out in an agreement between the Vendor and the Purchaser.
We can provide advice and assistance with:
- The Contract for Sale and Purchase of House/Land
- Reviewing Form 1s to ensure they have been completed correctly and all relevant information regarding the property has been disclosed to the purchaser.
- Ensuring Special Conditions in the contract are met by the date set in the contract and advise clients accordingly in relation to the conditions.
- Liaising with financial institutions to ensure a Discharge of Mortgage is being prepared for the Vendor in a timely manner to ensure settlement is met. For the Purchaser, we will follow up to ensure mortgage documents are being prepared, executed and returned to the financial institution in time for settlement
- Adjusting rates, taxes and any rent, if applicable, and apportioning the funds correctly between the parties to ensure they are paid to the end of a financial year, or the end of the quarter as may be applicable
- Preparing all legal documents required for the transaction, i.e. Client Authorisation, Transfer and Complete Verification of Identification on each client
- For a Purchaser, attending to Stamping of the Memorandum of Transfer with Revenue SA
- Arranging for SA Water, Council, Revenue SA & Strata or Community Title Managers to be advised of the Change of Ownership
- Attending the settlement on your behalf either at the Land Titles Office or electronically via PEXA Platform
These are just a few of the tasks required in the conveyancing process when selling or buying a property.
We also undertake Statutory Searches which are required as part of the conveyancing process, these are used to prepare the Form 1/Disclosure Statement. Searches disclose relevant information regarding the property and any Government interest in the property, these usually consist of a Property Interest Report, council searches, plans and any other documents which affect the title.
We provide advice for your specific set of circumstances. For example, a Vendor with multiple properties may not wish to fully discharge a mortgage over a property which is security for other property and we can provide advice on the best way to do this. For a Purchaser, we can provide advice on how the mode of holding a property could affect them in the long term, especially if they have a growing portfolio. We would liaise with their accountant or financial planner to ensure we are working towards meeting their end goal in the most efficient manner, with respect to both time and money.
At Metro Conveyancing, commitment to excellent customer service extends beyond completing tasks and providing advice; we prioritise following up and communicating with our clients, making sure to keep them up to date with the progress of their settlement.
We are always here to answer your questions – no matter how small or silly the question or query may be! We understand that people may undertake this kind of transaction just once every couple of years, while we do this day in and day out. We love answering our clients’ questions and assisting them however we can, and if we don’t know the answer, we will be sure to lead them in the right direction.