Buying Property

What is the difference between a Conveyancer and a Lawyer?

Legal knowledge and scope to act and advise clients in property matters is essentially is the key differences between conveyancers and solicitors (or lawyers). If a legal question arises or a there is a dispute about a point of law, which does happen frequently on conveyancing matters, a conveyancer has only a limited scope to be able to deal with the issue. They are not lawyers and cannot offer legal advice or prepare legal documents beyond a Contract of Sale.

The differences really come to light when a problem does arise. For conveyancers’ when an issue does arise either it is often not dealt with fully as a conveyancer has limited scope and you have to take your file to a lawyer for another opinion costing you time and money.

Often the otherside will call your bluff as they know for you to assert your rights you would have to spend money to get advice and seek a lawyer to act and quite often you can end up “rolling over” on something because of the extra work is takes to get another opinion.

When these issues arise on conveyancing matters under the supervision of a lawyer they have the ability to advise you quickly and thoroughly without the need to package up your file and take it elsewhere. The costs and time saving here is enormous.

There is no telling where and when these issues will arise and some complex transactions can be very simple and likewise simple matters can become extremely complex very quickly.

The other key difference is a lawyer usually has much more experience in negotiating difficult and complex scenarios and settling disputes. If they have extensive litigation experience, they are usually more skilled in providing solutions and getting the parties to an appropriate agreement. The weight of expertise can mean a lot when you are in difficult negotiations.

Buying a house is the most expensive purchase of your life and with penalty interest at high rates it pays to have the best advice and experience working for you and not for the otherside.

Conveyancer and lawyers are both accredited and required to hold licences, typically lawyers or solicitors will have much more experience and be better resourced. It is important to note that the conveyancers’ insurance will not cover you if they provide advice outside of their limited scope, exposing you to as a consumer to unnecessary risks.

What is conveyancing?

Conveyancing is the process of transferring ownership of a property from one person to another. The ownership of a property is registered on the Certificate of Title. The process of conveyancing generally involves:

• changing the name of the registered proprietor on title,
• removing or placing mortgages or caveats etc on title;
• payment of monies in exchange for the property;
• finalisation of outstanding rates and fees associated with the property;
• preparing legal documentation and lodging of stamp duty;
• arranging settlement with all parties; and
• advising you of your rights and responsibilities under the contract of sale to meet your contractual obligations.

What does the conveyancer and lawyers do for the buyer?

A conveyancing lawyer or conveyancer manages the purchase of a new home for you they are your legal representative. They talk to the otherside and your lender so that you can settle the property and understand and comply with your obligations under the Contract of Sale.

They will firstly check the Contract and ensure that you are advised of the terms and conditions and associated risks etc. They will prepare any the paperwork for you become the registered proprietor on title or prepare your matter for online of registration in most property purchases now. They will verify your identity or request for this to be done. They will lodge stamp duty details online with the relevant State Revenue Office. They will calculate and prepare settlement figures, called Statement of Adjustments, and check with rating authorities as to what is owing. They will advise you of the funds needed to settle and arrange for settlement to occur. If you have a lender or broker your lawyer or conveyancing clerk will liaise with them to ensure sufficient funds are available at settlement day. They will also co-ordinate settlement on your behalf.

They will also handle any queries or requests that you have or require from the vendor (seller). There may be issues that arise or requests for extensions of time for special conditions that they will arrange and seek approval for. If a dispute arises they will discuss with the otherside and seek to resolve any issues.

Once settlement is over councils, water authorities and owners corporations need to be advised of your new details and they are provided to them.

The fundamental steps are easily understood, but the details and the process does require a great deal of skill, knowledge and attention to detail and knowledge of the law.

Do I need a conveyancer or lawyer to buy a house?

Yes, you do need a conveyancer or lawyer to buy a house now in Victoria as all settlements are online and you need to lodge stamp duty details online.

Electronic conveyancing can only be done with registered users on the relevant platforms as is the case with submitting Duties with the State Revenue Offices.

The process of conveyancing may seem simple in principle but it is very complex in reality. You need specialist knowledge and legal understanding to be able to settle a property and understand all the required elements in order to settle.

There are many time frames and contractual requirements that need to be complied with and unique forms and processes when buying properties. To become very skilled requires a few years of full-time work in a conveyancing role with high volumes. Even then there will be unusual situations and problems that arise that you have not seen before.

Our conveyancing lawyers and firm handles property matters from conveyancing through to more complex commercial matters and disputes. Our team have commercial understanding are strong strategic thinkers with commercial understanding.

To speak to a lawyer about your conveyancing matter call us on 1300 900 440 or complete the enquiry form to discuss our service or to obtain a quote.