Conveyancing is the process of transferring ownership of the legal title of a property from one person to another.

It is the process involved in preparing and lodging a range of legal documents in order for the property to officially be settled.

The conveyancing process is normally done by a licensed conveyancer (known as a settlement agent in some states). It’s also possible to use a solicitor or even do the process yourself with a DIY kit.

The process can sometimes be complicated, and if there are any errors in the documentation it might prevent you from settling on the property, which is why most people use a professional.

Along with preparation and lodging the required paperwork, a conveyancer will also:

• Arrange building and pest inspections
• Prepare the contract of sale
• Check the property for any outstanding issues
• Pay costs on your behalf, such as the deposit and stamp duty
• Attend settlement and register the transfer of property ownership

The Australian Institute of Conveyancers (AIC) is the professional body that oversees conveyancers in New South Wales, Northern Territory, South Australia, Tasmania, Victoria and Western Australia. In Queensland and the ACT, you’re required to use a solicitor.

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At what stage do you engage a conveyancer?

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A conveyancer can be engaged at any time, but in most cases, the sooner the better.

As a buyer, if you’re buying through an auction, it’s important to have a conveyancer review the contract of sale well in advance. A conveyancer will be able to assist you in ordering a building and pest inspection and ensuring that all the documentation, such as titles, is in order.

If you’re buying through a private treaty, you should have a conveyancer conduct a pre-purchase review prior to making an offer.

Many times, a conveyancer can do searches for you, that could reveal something about the property that you weren't aware of, which could be problematic or costly to rectify. For example, you might be wanting to do a renovation that includes an extension, and a conveyancer will be able to let you know if this is going to be possible.

Some other issues that a conveyancer is potentially able to identify, prior to auction or making an offer, include:

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• unfair special conditions and default clauses
• correct completion of the particulars of sale
• finance conditions
• settlement terms
• vacant possession v subject to lease
• outgoings, including land tax
• special levies
• orders
• building permits, final approvals and warranty insurance
• measurements
• owners’ corporation
• title encumbrances
• zoning
• works in surrounding areas

For sellers, In New South Wales, Victoria and Tasmania, you need a conveyancer before you put a house on the market. In Queensland and Western Australia, a conveyancer is required when you accept an offer.

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