Introduction

Selling a house can be just as complex and stressful as buying one, especially when it comes to navigating the legal aspects of the transaction. This is where a conveyancer plays a crucial role. But what exactly does a conveyancer do when selling a house? In this blog, we’ll break down the key responsibilities of a conveyancer during the sale process, from preparing the Section 32 vendor statement to ensuring a smooth settlement.

What Is a Conveyancer?

A conveyancer is a legal professional who specializes in property transactions. Their role is to manage the legal aspects of selling real estate, ensuring that the transfer of ownership is conducted smoothly and in compliance with the law. When you hire a conveyancer to assist with the sale of your property, they handle everything from preparing legal documents to liaising with the buyer’s conveyancer, allowing you to focus on the other aspects of selling your home.

Key Responsibilities of a Conveyancer When Selling a House

Here’s a breakdown of the key tasks your conveyancer will manage when you’re selling a house:

1. Preparing the Section 32 Vendor Statement

One of the first tasks a conveyancer will undertake when you decide to sell your property is to prepare the Section 32 vendor statement. This document, required by Section 32 of the Sale of Land Act 1962, provides prospective buyers with crucial information about the property, such as title details, zoning information, easements, covenants, and outgoings.

Your conveyancer will gather all the necessary information, conduct relevant searches, and compile it into a legally compliant Section 32 statement. This ensures that all required disclosures are made, protecting you from potential legal disputes.

2. Drafting and Reviewing the Contract of Sale

The Contract of Sale is the legal document that outlines the terms and conditions of the property sale. It includes details such as the purchase price, settlement date, and any special conditions that apply to the sale.

Your conveyancer will draft the Contract of Sale, ensuring that it reflects your interests and complies with legal requirements. They will also review any conditions proposed by the buyer’s conveyancer and negotiate on your behalf to ensure that the contract is fair and favorable to you.

3. Handling Legal Documentation

In addition to the Contract of Sale and Section 32, there are several other legal documents involved in the sale process. Your conveyancer will handle all the necessary paperwork, including:

• Transfer of Land: This document officially transfers ownership of the property from you to the buyer.
• Discharge of Mortgage: If you have a mortgage on the property, your conveyancer will arrange for it to be discharged at settlement.
• Adjustment Calculations: Your conveyancer will calculate any necessary adjustments for rates, taxes, and other outgoings to ensure a fair settlement.

By managing these documents, your conveyancer ensures that the sale proceeds smoothly and without legal complications.

4. Liaising with the Buyer’s Conveyancer

Communication between the seller’s and buyer’s conveyancers is crucial to the success of the transaction. Your conveyancer will liaise with the buyer’s conveyancer to coordinate the exchange of contracts, address any issues that arise during the process, and ensure that both parties are on the same page leading up to settlement.

This coordination helps prevent misunderstandings and delays, ensuring that the sale moves forward efficiently.

5. Coordinating with Financial Institutions

If you have a mortgage on the property, your conveyancer will work with your lender to arrange for the mortgage to be discharged at settlement. They will also coordinate with the buyer’s financial institution to ensure that the funds are transferred smoothly and on time.

This step is essential to ensure that the settlement occurs without any financial hiccups.

6. Managing the Settlement Process

Settlement is the final step in the property sale process, where the ownership of the property is transferred to the buyer, and the purchase price is paid to the seller. Your conveyancer will manage the entire settlement process, including:

• Calculating Final Payments: Your conveyancer will calculate the final payments due, including adjustments for rates, taxes, and any other outgoings.
• Coordinating the Transfer of Funds: They will ensure that the funds from the sale are transferred to your account promptly and accurately.
• Registering the Transfer of Ownership: After settlement, your conveyancer will lodge the necessary documents with the Land Titles Office to officially register the transfer of ownership.
  
  

7. Providing Post-Settlement Support

Even after settlement is complete, your conveyancer continues to provide support. They will ensure that all post-settlement tasks, such as finalizing payments and closing out any accounts, are handled efficiently. If any issues arise after settlement, your conveyancer will be there to assist you in resolving them.