If you’re looking to appoint a conveyancer, you probably have a lot of questions. That’s why we’ve created this guide. It explains conveyancing and the role of the conveyancer to help you select the right one for your needs.
If you have any questions that aren’t answered here, please call us or send us a message. We’re only too happy to help.
Table Of Contents
- What is conveyancing?
- What is a conveyancer?
- What does a conveyancer do?
- Is there a difference between a conveyancer and Settlement Agent?
- The differences between WA and other States
- What else can a conveyancer help me with?
- Buying a house, conveyancing fees
- Conveyancing costs calculator
What Is Conveyancing?
In Australia, property conveyancing is the action of preparing documents for the sale and transfer of title from one owner to another. Conveyancing services are carried out by licenced conveyancers or settlement agents. There are no set conveyancing fees in WA, conveyancing costs are based on the value and complexity of the transaction.
What Is A Conveyancer?
A licensed conveyancer is a qualified professional who holds a settlement agent’s license and a triennial certificate. Some choose to operate their own business but many work for settlement agencies, where they provide advice and information about the sale of a property, prepare documentation and conduct the settlement process.
What is a senior conveyancer?
A senior conveyancer is an experienced professional with (usually) four to five years’ of industry experience employed in a settlement agency. They manage their own client portfolio autonomously, handling the settlement process from start to finish.
What to expect from a conveyancer conducting your settlement
In the course of their duties, a conveyancer will carry out:
- land registry searches;
- searches of government departments and local authorities;
- perusal of the contract and advice on potential issues;
- stamping of required documents;
- confirmation that inspections or special conditions in the contract are finalised prior to settlement;
- calculation of adjustments of rates and taxes;
- preparation of settlement statements;
- liaison with mortgagees and financiers; and
- attendance at settlement.
What Does A Conveyancer Do?
A conveyancer is an experienced professional whose role is to execute the transfer of land from one person to another. They carry out the necessary checks, protect their client’s interest throughout the process, and ensure all legal obligations are met. In Western Australia a typical real estate conveyancing transaction for purchasing a property is undertaken by a licensed conveyancer. The transaction consists of three parts:
- Entering into a contract for the sale of the property (through the signing of an Offer and Acceptance by the buyer and seller)
- Financial settlement (exchange of money and documents)
- Registration of the transfer and other documents onto the land registry maintained by Landgate.
Is There A Difference Between A Conveyancer And A Settlement Agent?
The short answer is no, but there are rules.
In Western Australia, an individual or business undertaking property settlements must be licensed as a Settlement Agent and hold a triennial certificate issued under the Settlement Agents Act 1981. They are bound by the Settlement Agents’ Code of Conduct.
Licenced conveyancers must also have:
- professional indemnity insurance;
- maintain an annually audited trust account; and
- participate in the Compulsory Professional Development program.
A person who provides settlement services is known as a conveyancer.
Differences Between WA And Other States
In Australia, there are no universal rules for buying and selling a property. In Western Australia, most sales start with a standard REIWA Offer and Acceptance document, usually completed by the Real Estate Agent on behalf of the buyer. Once the offer is accepted by the seller, it becomes the contract.
In other Australian jurisdictions real estate sales are completed by an exchange of contracts and these documents are often prepared by lawyers.
Because most sales in WA use the standard REIWA Offer and Acceptance document, there’s no need for lawyers to be involved in the preparation of the contract.
What Else Can A Conveyancer Help Me With?
Primarily the work a licensed conveyancer undertakes is related to guiding their clients through the sale or purchase of residential or commercial property.
They can also assist with things like:
Buying A House, Conveyancing Fees
Perth conveyancers are experienced professionals with significant industry experience employed in a settlement agency. Conveyancers can represent either the buyer or seller (but usually not both) for the sale of property or transfer of title.
Conveyancing fees in WA vary from provider to provider.
In general, fees for conveyancing are calculated on the value of the property and complexity of the transaction.
A conveyancing quote usually includes professional fees, statutory charges such as stamp duty and land registry fees, and any associated third party charges.
Conveyancing Costs Calculator
To calculate the fees for conveyancing, get a quick and easy online quote here