A conveyancer acting for the seller is responsible for undertaking all legal work necessary to transfer the property being sold from the seller to the purchaser.
It’s a good idea for a seller to consult a conveyancer before they sell a property.
These are some of the tasks your conveyancer should perform:
- Advise you on your legal obligations, any special conditions that might be included in a contract of sale, buyer’s cooling off rights and the seller’s right to withdrawal from sale.
- Advise on when a party can avoid settlement, the adjustment of rates and taxes and the preparation of settlement statements.
- If there is a mortgage over the property your conveyancer can advise you on the process of discharging that mortgage and paying the outstanding amount, paying outstanding accounts and change of ownership notifications.
- Review the contract before you sign, search the title to ensure property ownership details are correct in the contract and conduct the appropriate checks and searches with government departments and local authorities.
- Advise on the preparation or completely prepare the Form 1 for the seller as well as prepare and sign a Client Authorisation form.
- Verify the identity of the seller and their right to deal with the property as well as liaise with the existing mortgagee.
- Prepare a Settlement Statement on your behalf, check the deposit has been paid by the buyer, write to the land agent requesting the balance of deposit be paid if required and request a loan payout figure if the property is mortgaged and prepare a discharge of mortgage.
- Sign a transfer on the seller’s behalf, order an SA Water special meter reading, and advise the buyer’s conveyancer of the payment requirements to complete settlement.
- Account for all monies held in trust, conduct a check search of the title before settlement, facilitate settlement in the electronic-conveyancing workspace, and advise when settlement is complete.
- Send change of ownership notifications to relevant parties and pay any rates and taxes outstanding after settlement.
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