Buying a home can be stressful regardless of the number of times you've been through the process. It’s our aim at STW to make this process as stress free as possible as well as keeping costs as low as possible by offering our fixed price conveyancing service at $950* plus GST.
As conveyancing involves the transfer of legal title of real property from one party to another it’s imperative that the appropriate searches are thoroughly conducted. Due to the number of searches required to ensure clear title a typical conveyancing usually takes 4 to 6 weeks.
There are two major stages to a conveyancing transaction which are the exchange of contracts and settlement.
It is a legal requirement that contracts for sale of land be in writing. Two copies of the contract are prepared and signed by each party. This is the “exchange” part of the process.
As it is the responsibility of the buyer to ensure they obtain a good and clear title to the land – i.e. that the seller is the actual owner and has the right to sell the property.
Our conveyancers conduct a number of searches to ensure the buyer secures title to the land together with all the rights that go with the land and notify you of any restrictions prior to your purchase.
There are a number of searches and processes conducted by our office; these include:
• check for any encumbrances and restrictions on the property
• ensuring special conditions mentioned in the contract are met
• making sure rates, land tax and water consumption charges are paid by the appropriate party
• arranging for the payment of fees and charges and government duties
• preparation of appropriate legal documents
• for the buyer, liaising with the financiers of the purchaser to satisfy their requirements before settlement
• for the seller, liaising with the financiers of the vendor to arrange settlement and obtain discharge of mortgages on the title
• arranging and attending final settlement.
Depending on the circumstances, and jurisdiction of each conveyancing we may also need to complete:
• registered plan search or building units/group titles plan search
• company search
• contaminated land search
• council property search
• full council inspection of records search
• land tax search
• main roads search.
As we have three levels of government (federal, state and local), we must ensure that the seller is entitled to all rights and title on the property.
Requirements, searches and costs can vary depending on local property legislation and regulations. In addition of our fixed price of $950 (plus GST) we pass along any costs associated with the above searches at the cost charged by each authority*.
Once we have ascertained clear title your contract can proceed to settlement.
