For people who are new to the world of real estate deals, the concept of a conveyancer might be a foreign one. What exactly does it mean to “convey” a property, and what does a conveyancer do? Who does the conveyancer represent? Is a conveyancer a necessary part of every real estate deal, or do conveyancers only play roles in larger ones?
Never fear: we’re breaking down everything you need to know about conveyancers, from the basics of conveyancing and the law to the process of getting the right conveyancer for your real estate deal.
The role of a conveyancer
In law, and particularly in law systems that descended from English common law, “conveyancing” is a key part of some types of property exchanges. Essentially, conveyancing works as a safeguard: it breaks the process of buying a valuable thing into steps, allowing professionals to make sure that everything is set up correctly for the orderly transfer of the property.
A conveyancer is the professional who is in charge of dealing with this process. When you sign a contract in a real estate sale, the sale doesn’t go through immediately. There are still steps to be done before the deal reaches “settlement” (also called “closing” in some countries). The time between the signing of the contract and the settlement is the time that the conveyancer has to spot any issues with things like the title, mortgages, and other complicating factors.
Or, to be more precise, that’s the time the conveyancers have: because, in a real estate deal, there are going to be two of them. Both the buyer and the seller should secure their own conveyancer, and the conveyancers are tasked with protecting the person that they’re representing by looking for any potential issues that would hurt their side of … Read More ...