The process of buying or selling a property can be complicated, especially if you’re a first time buyer or seller. In this blog, we’ll be exploring some important roles that a conveyancing attorney can play in helping you navigate the property transfer process, as either a buyer or a seller.
What is a conveyancing attorney?
Conveyancing attorneys, also referred to as transfer attorneys play an important role in the process of buying/selling immovable assets such as land and buildings. Their responsibility is to ensure that the transfer process meets the required legal obligations and that the transfer process runs as smoothly and efficiently as possible. Additionally, they guarantee the protection of their clients throughout the transaction process.
The Roles of a Conveyancing Attorney
To protect the interests of their clients
The conveyancer is responsible for protecting the interest of their clients at all times. This means they have to ensure that the ownership of the property is legal and valid and that there are no possible third-party claims against the immovable property. In order to do this effectively, they must examine all the documentation pertaining to the property, and be prepared to deal with any other legal issues that may arise in connection to the transfer of ownership.
Conveyance attorneys are also responsible for informing their clients about everything they need to know before entering into an agreement. These may include all the essential documentation required, legal and compliance costs, and the sequence of the conveyancing procedure. They must also ensure that all parties involved are aware of the terms and conditions of the agreement. This helps to make the transfer process an amicable experience, while satisfying the buyer/seller’s needs.
Dealing with the administrative aspects involved in the property transaction process
The conveyancing process comes with a lot of paperwork, documentation and administration. This is compulsory as it ensures the viability of the purchase process, and the conveyancing attorney will oversee each step of this process – keeping you updated with the latest progress. It is also the conveyancing attorney’s duty to draw up the transfer documents and obtain the required Rates Clearance certificate, Home owners or Levi Clearance certificates as required, an Electrical and Gas Compliance Certificate, bore hole and Beetle certificates if applicable, to ensure the purchaser takes transfer of an unencumbered property on registration. These are important aspects in the transfer process as it protects the buyer/seller by ensuring that there are no defects with title deeds or contracts.
Paying the Conveyancing Fees on Behalf of Their Clients and Collecting the Full Purchase Price
There are various costs involved in the conveyancing process. It is therefore the conveyancing attorney’s role to monitor all financial aspects related to the transfer transaction, including cancellation of any existing bonds, payment of Transfer Duty, rates and levy/Home owners clearance figures, agents commission and the Sellers proceeds. In ensuring client satisfaction, the attorney is also responsible for collecting the full purchase price on the agreed upon date stated in the offer to purchase. Once all the purchase agreement conditions have been met, the buyer and seller will sign all the transaction documents. Additionally, the buyer will sign the bond documents.
Delivery of the Title Deed
After a period of approximately 3 months, the deeds office will deliver the original title deed and bond documents to the conveyance attorneys. The conveyance attorney will then send these documents to the bank. However, if the buyer has fully paid for the property, the documents are delivered to them for safekeeping.
Due to the complex nature of the conveyancing process and all the risks involved, it’s advisable to seek professional help from a reputable conveyance attorney. Contact our team of experienced and reputable conveyance attorneys to assist you with your transfer process.