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The process of buying or selling residential property is often one of the largest transactions most people will ever make in their lives. Add to that the desire of wanting to secure your dream property or trying to sell at the right time, and property transactions can demand a heavy emotional toll on the parties involved.

Selecting the conveyancer can make the transition of property far less stressful, and, critically, it ensures that you’ll have peace of mind for all your conveyancing matters. Whether you’re a first home buyer, a seasoned property mogul, or an investor purchasing commercial property, the conveyancing process is fraught with potential pitfalls. A conveyancing or property solicitor will streamline your property transaction for you and work to protect your interests at all times.

What a Conveyancing Lawyer Does

Conveyancing lawyers assist you in processing property transactions, whether you’re buying or selling. They will review your property contracts, explain your rights to you, negotiate any contract changes on your behalf, and ensure that all the relevant documentation is in order.

Conveyancing or Property Solicitors are there to guide you, informing buyers – especially first home owners – about their rights throughout the transaction process. Conveyancing or Property Solicitors provide contract advice and guide buyers and sellers through property settlement seamlessly so they can make informed decisions.

And, aside from ensuring you have all the relevant documents and protecting your rights, your solicitor will expedite a property transaction so you can provide any relevant information on time and conclude the paperwork quickly.

The Importance of Having a Conveyancer

Having a conveyancing or property solicitor is crucial, because your solicitor knows precisely what to look for when performing all the relevant checks on a property. They can also pick up on any less-than-ideal clauses or conditions within a contract. Many property contracts are created from a standard template, and may not work to cover your rights, particularly if you’re a buyer and you’re reviewing a contract from a seller. Real estate agents can be helpful, but, at the end of the day, their goal is to process property transactions as quickly as possible without deference to you.

Your solicitor will work for you to ensure that the property contract terms are fair. This might include significant details, such as the duration of the settlement period, any restrictions on the use of the property, and any special conditions.

There are several things that can go wrong when buying or selling property. If contracts aren’t created or reviewed thoroughly or you miss performing certain pre-property checks, then the contract could leave you exposed to claims from the other party. If there are any delays in the property transaction due to the other party you may also not be covered.

Aside from ensuring your documentation is airtight, an accomplished property lawyer will also inform you of your rights throughout the conveyancing process. They will guide you through the property sale from beginning to end, explaining the paperwork, reminding you of deadlines, and assisting you to meet them on time.

Conveyancing for Commercial Property

Buying and selling commercial real estate is often much more complex than residential real estate. The conveyancing process, therefore, requires extensive due diligence by the conveyancing lawyer. They are required to thoroughly research the property, investigating things like the permitted uses of the land, land tax implications, and the fine details of commercial leases. These checks ensure that any risks can be mitigated and the interested party can be protected. This lengthy process requires meticulous attention to detail and a high level of experience.

For corporate clients, excellent legal skills need to be supported by the ability to understand each deal and its commercial impact, particularly if the property already has a tenant. That takes experience along with a commitment to provide fast, user-friendly and concise advice.

At Maguire & McInerney, we play a pivotal role in every aspect of your property transactions, including residential conveyancing, commercial structuring, acquisitions, disposals, leasing and licensing of industrial, commercial and retail properties and utilities.

Find Accomplished Conveyancing Lawyers in Wollongong

It’s crucial to select a conveyancing lawyer with a comprehensive understanding of property law. Whether you’re buying or selling, Maguire & McInerney can advise you on all aspects of a property transaction, no matter how small or large.

Our solicitors and licensed conveyancers can provide invaluable advice even before you are ready to buy or sell. We have the knowledge and experience to identify any potential opportunities or roadblocks before they happen, leaving you informed and prepared to face the conveyancing process with confidence.

When it comes to property transactions, we understand the need to move quickly. Our conveyancers are highly accessible and focus on getting it right the first time.

If you need advice on a property transaction and require conveyancing, or wish to learn more about our conveyancing services, get in touch with our expert conveyancing solicitor, Brendan Pearce. We operate in Wollongong and the wider Illawarra as well as Greater Sydney.

Steps To Get Started

Reach Out

Whether it’s phone, email, or dropping by our Wollongong office, book a date to sit down with one of our team.

Make a Plan

Understanding where you are coming from, and what you are looking to achieve means that our lawyers can craft the best course of action.

Take Action

Whether it’s litigation or mediation, our team of experts have decades of experience in and outside of the courtroom and are committed to reaching the best possible outcome.

FAQs

In many jurisdictions, it’s not a legal requirement to hire a conveyance lawyer when buying a house, but it’s highly recommended due to the complex legal and financial aspects of property transactions. Conveyancing refers to the legal process of transferring property ownership from one party to another.

Here’s why you might want to consider hiring a conveyance lawyer when buying a house:

1. Legal Expertise: Conveyancing involves a range of legal tasks, such as reviewing contracts, conducting property searches, ensuring proper title transfer, and addressing legal issues that may
arise during the process. A lawyer with expertise in property law can navigate these aspects effectively and ensure that all legal requirements are met.

2. Contract Review: The purchase of a house involves a contract between the buyer and seller. A conveyance lawyer can review the contract to ensure that your interests are protected, negotiate terms if necessary, and clarify any legal language that you might not understand.

3. Title Search and Due Diligence: A conveyance lawyer will perform a title search to ensure that the property’s title is clear and there are no outstanding liens or encumbrances that could affect your ownership. They can also conduct due diligence to identify any potential legal issues with the property.

4. Document Preparation and Filing: Property transactions involve a significant amount of paperwork, including legal documents and forms that need to be accurately prepared and filed. A conveyance lawyer can handle these tasks to ensure that everything is done correctly.

5. Problem Resolution: If any legal issues arise during the transaction, such as disputes over property boundaries, easements, or other legal matters, a conveyance lawyer can help resolve these problems and protect your interests.

6. Financial Protection: A house purchase is a major financial investment. A conveyance lawyer can help ensure that the financial aspects of the transaction, such as the handling ofd eposits and mortgage documents are properly managed.

7. Peace of Mind: Hiring a conveyance lawyer provides you with peace of mind knowing that a legal professional is overseeing the transaction and protecting your interests.

While it’s possible to complete a property purchase without a conveyance lawyer, doing so increases the risk of making mistakes that could have significant financial and legal consequences.

Conveyancing is the legal process of transferring the ownership of property (real estate) from one person or entity to another. It involves a series of steps, documentation, and legal formalities that ensure the smooth and lawful transfer of property rights.

The conveyancing process involves several key stages:

1. Pre-Contract Stage: This involves gathering information about the property, verifying the legal ownership of the property, checking for any outstanding debts or encumbrances, and preparing draft contracts.

2. Pre-Completion Stage: During this phase, the final contract has been exchanged and the parties are preparing for settlement including undertaking any remaining legal checks and searches,
liaising with banks and preparing statement figures for completion.

3. Completion Stage: This is when the actual transfer of ownership takes place. The purchase price is paid, and the property’s legal ownership is formally transferred from the seller to the buyer. The transfer is now completed through an electronic conveyancing platform called PEXA to officially record the change of ownership. This process finalises the legal transfer and ensures the new owner’s rights are properly registered.

Conveyancing typically involves a solicitor who handles the legal aspects of the process on behalf of the buyer or seller. The solicitor ensures that all legal requirements are met, conducts necessary searches, prepares and reviews contracts, and manages the transfer of funds.

Conveyancing is important to ensure a secure and lawful transfer of property ownership while protecting the rights and interests of both parties involved in the transaction. It’s worth noting that the specific details of conveyancing can vary depending on the jurisdiction and local laws governing property transactions.

PEXA stands for Property Exchange Australia. It is an electronic property settlement platform that facilitates the exchange of property ownership in Australia. PEXA provides an online platform where parties involved in property transactions, such as buyers, sellers, conveyancers, lawyers, and financial institutions, can complete the process of transferring property ownership, paying stamp duty, and settling funds electronically. Before the introduction of PEXA, property transactions in Australia often involved a manual and paper-based process. PEXA aims to streamline and digitise the property settlement process.

PEXA offers several benefits, including:

1. Efficiency: Property transactions can be completed faster since the process is digitised and can be conducted in real-time.

2. Accuracy: Electronic transactions reduce the risk of errors that can occur when dealing with paper documents.

3. Transparency: All parties involved in the transaction can access the platform to track the progress of the settlement process.

4. Security: PEXA employs security measures to protect sensitive information and prevent fraud.

5. Convenience: Parties can access PEXA’s platform from anywhere with an internet connection, reducing the need for in-person meetings.

Overall, PEXA has transformed the way property settlements are conducted in Australia, modernising the process and bringing it into the digital age.

In New South Wales, all retail or commercial leases over 3 years are required by law to be registered.  

In New South Wales, commercial leases are registered through Land Registry Services.

By registering the lease, it becomes a legally recognised and enforceable agreement, offering a solid foundation for resolving any potential conflicts or disagreements that may arise during the course of the lease, including as a result of the sale of the property.

Our Conveyancing Team

Brendan Pearce

Partner

We’re here to help.

Enquire online, or call us today, and we will help you explore all your options. Your enquiry is completely confidential.