Below, some frequently asked questions about conveyancing. For more information, contact the Conveyancing Exchange.
Q: What is conveyancing?
Q: Why should I use a conveyancer?
A licensed Conveyancer has an in-depth understanding of the law concerning property transactions, is required by law to carry professional indemnity insurance and fidelity insurance, and unlike certain solicitors that offer conveyancing, can focus solely on property transfer instead of other legal matters.
Q: What is the cooling off period and how does it affect me?
Q: What is a disbursement?
Q: What happens if either party cannot settle on the due date?
Q: What happens at settlement time?
If prior to settlement the property in question has been damaged, there is a sufficient amount of time to take care of discrepancies prior to settlement.
Once the settlement date arrives, the keys can be handed over to the purchaser and the deposit is released (from trust) to the seller. At this stage, the buyer’s bank registers the change of title and mortgage, and notifies authorities (such as the water company) of the change.
Q: Who notifies the authorities that I have purchased a property?
Arrange a consultation with a Licensed Conveyancer.