What does conveyancing involve?
Conveyancing begins before the contract is signed and continues through to settlement and registration of the transfer.
Depending on the property and the terms of the contract, the work may include:
- Reviewing the contract and disclosure documents
- Advising on contract conditions and important dates
- Conducting relevant title and property searches
- Explaining easements, covenants and other registered interests
- Communicating with the seller's solicitor or law practice
- Preparing and checking settlement documents
- Calculating settlement adjustments
- Managing the transfer of funds and property ownership
- Confirming that settlement has been completed
Buyers should obtain legal advice before signing a contract, not only after an offer has been accepted.
TerminologyWhat does “conveyancer” mean in Queensland?
The term conveyancer is often used informally to describe someone who works on property transfers. In Queensland, however, buyers generally engage a solicitor or law practice for conveyancing and legal advice.
A conveyancing clerk or paralegal may manage much of the day to day administration within a law practice. They work under the supervision of a solicitor, who remains responsible for the legal work and advice provided.
The practical question is therefore not whether to choose a conveyancer or solicitor. It is which solicitor or law practice is best suited to manage the purchase.
Choosing supportChoosing the right legal support
Property transactions can differ considerably. A straightforward residential purchase may require a different level of attention from a purchase involving a body corporate, trust, self managed superannuation fund, unusual title arrangement or complex contract conditions.
Before appointing a solicitor or law practice, consider asking:
- How much of their work involves property transactions?
- Will they review the contract before you sign?
- Who will manage the file from day to day?
- How closely is the work supervised by a solicitor?
- Which searches are included in the quoted fee?
- Are search fees and other disbursements charged separately?
- How will important dates and issues be communicated?
- Can they assist if the transaction becomes more complicated?
Request a written quote explaining the professional fees, searches and other disbursements.
Before signingWhy legal advice matters before signing
A property contract creates legal obligations, and the available options can narrow considerably once it has been signed.
A solicitor can review the proposed terms, explain important conditions and help ensure the contract reflects the buyer's circumstances. This is particularly important before an auction, where the successful bidder will generally be required to sign an unconditional contract and no cooling off period applies.
For most private treaty residential purchases in Queensland, a cooling off period may apply. Buyers should not rely on it as a substitute for obtaining advice before signing because exceptions, strict timeframes and termination costs can apply.
Due diligenceLegal work is only one part of due diligence
A solicitor manages the legal aspects of the transaction, but they do not necessarily assess every physical, planning or financial consideration associated with the property.
Depending on the property, a buyer may also need assistance from professionals such as:
- A building and pest inspector
- A town planner
- A surveyor
- An engineer
- A body corporate records inspector
- An accountant or financial adviser
The appropriate investigations will depend on the property, its location and how the buyer intends to use it.
Where NPS fitsWhere NPS fits
Your solicitor handles the contract, legal searches and transfer of ownership.
NPS helps coordinate the wider property assessment, understand the information being gathered and identify questions that may require input from other specialists. Each professional has a different role, and bringing those roles together helps the buyer form a more complete view of the property.