Property & Conveyancing FAQs
- What is conveyancing?
- How long does a conveyance usually take?
- Why does a conveyance typically take 4-6 weeks?
- What is the process involved?
- What is the cost?
What is conveyancing?
In law, conveyancing is the term used to describe the process involved in the transaction of land or property from the seller to the owner. In Australia, there are several processes and requirements that need to be met in order to complete a transaction and professional assistance comes highly recommended.
How long does a conveyance usually take?
A conveyance typically takes between 4-6 weeks. The conveyancer will work through a checklist, as well as any special agreements made out between the buyer and the seller, before the transaction is complete.
Why does a conveyance typically take 4-6 weeks?
A contract usually has a number of stages which have to be completed before the next stage can begin. Often they are made subject to a buyer being approved for finance and maybe building and pest inspection. Searches are required to be undertaken by the Solicitors to ensure the property being bought is clear from any nasty surprises. These all take time to activate.
What is the process involved?
- Contract is received and initial letters are sent and all important dates are diarised
- Searches are conducted
- Ensuring any special conditions mentioned in the contract are complied with
- Arranging all adjustments for rates/land tax and other expenses
- Arrange for release of mortgage etc
- Arrange for settlement
- Preparation of legal documents to transfer
What is the cost?
Cost will vary having regard to each transaction and whether you are buying or selling.
Contact OMB Solicitors today
If you require conveyancing services on the Gold Coast or anywhere else in Australia, please do not hesitate to contact us.