Buying and selling of property involve a considerable amount of paperwork. After the initial discussion, the buyer and seller would approach a solicitor to make all the necessary documents for transfer of title. This process of transfer of title in the real estate property supported by appropriate documents is called as conveyancing. However, before arranging for the transfer of title, the conveyancer Adelaide based, if you live there, will examine the legality of the title of the owner of the property in question. In order to speed up the process of conveyancing, recently, Australian Government has introduced e-conveyancing through its exclusive real estate platform by the name Property Exchange Australia (PEXA).
Perform legal obligations;
In any real estate transaction, both the buyer and seller will have certain legal obligations to perform. Now, it is the turn of the conveyancer Adelaide has to ensure these obligations are clearly described in the legal contract between the buyer and the seller. Further, the conveyancer should also ensure that the interests of his client are well protected.
Transfer of title to the property:
Now, the conveyancer Adelaide market has today will prepare the legal documents that are necessary for transferring the title in the property to the buyer. By transferring the title, the sale is deemed to have been completed and the buyer gets absolute ownership of the property.
Settlement of the transaction:
The conveyancer in Adelaide always plays a crucial role in arranging a settlement between the buyer and seller. The settlement day, as it is popularly called, is the day on which the sale transaction is completed, and the title to the property gets transferred to the buyer. For this purpose, the conveyancer will coordinate with both the buyer and seller and fix a date, time and place for settlement of the sale transaction. Visit us at Blackwood & Belair Conveyancing
Deed of conveyancing:
Meanwhile, the Adelaide conveyancer will prepare a deed of conveyancing, which will be signed by both the buyer and seller on the settlement day. On this day, the conveyance will read out the terms and conditions of the settlement between the buyer and the seller. If any minor adjustments are to be made in the terms of settlement, the solicitor will incorporate such changes with the consent of both the buyer and seller. This document is also signed by the witnesses, and then the deed is notarized. This marks the end of the sale transaction. The deed of conveyancing is a legal document which shows the ownership of the particular property mentioned in the deed has been transferred to the buyer.