| Conveyancing Demystified |    |
| The simplest way to achieve this goal of meeting all your obligations is to be completely honest and thorough in filling out your relevant documentation. This is because the 'contract of sale' might be able to be made void by the buyer if the information provided by you is false or absent. The type of information that you might be expected to provide will differ from state to state. Some things you could be expected to answer are:- | |
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| The person you choose to take care of the conveyancing process should be thoroughly investigated, as a bad choice can be at best costly and at worst lose you the sale. Are they up front about their charges and do they inform you clearly of all the government charges? Ask them how you will get the money: will it be a bank cheque to your account or to their office? Let them have their say - ask them to go through the details - so that you can sound out their professionalism. Do they adequately warn you about the importance of having a title search done, as this is the only sure way of finding out about easements and covenants. The average charge by the government for a title search is twenty dollars, so they should not be charging too much more for this component. | |
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Some things are also up to you to make sure the process goes smoothly. An important one is to find out beforehand where your title is held. If your home is mortgaged, it will be held by your bank. Contact the bank and ensure that all relevant release documents will be available at settlement. If you cannot find it close to settlement then you may lose the sale. Find out details such as how long your bank will take to clear your (much anticipated) cheque. If you are buying and selling a home at the same time then this could be a major issue. Also it is your responsibility to carry the risk of loss or damage to the property right up to settlement, so make sure the property is still insured. |
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