Buying any kind of property involves completing the necessary documents. This process is there to make sure that the seller will transfer the rights to you. They won’t have any say anymore about how you’ll use or maintain the property – whether you’re going to live in it or rent it out – when the transaction is completed.
If you want to transfer a legal property title from the seller to your name (or the other way around), you’ll need conveyancing. Perth residents understand that it’s rather complex, as there should be transparency on both sides when transferring the contract. Here’s how to make the transaction happen.
Work with a Licensed Conveyancer
Conveyancers have the knowledge and expertise in residential settlements, private and related party transactions, strata titles, subdivisions, land title office documentation, and other related matters. According to the Conveyancers Licensing Act 2003 by the Australian Institute of Conveyancers, they should have professional indemnity insurance and fidelity insurance before working with clients.
Work with a Reliable Solicitor
Solicitors charge a reasonable fee for their services, which includes a separate disbursement. These disbursements are usually fees collected by government authorities. They often – but not always – ask for fees when preparing contracts and advising mortgage documents. If you don’t know any solicitor in your area, you can contact the Solicitor Referral Service Law Society.
Do it Yourself
It’s possible to do the conveyancing yourself, but it’s not advisable because all the responsibilities will fall on your shoulders. Even though DIY kits are available from Law Consumers’ Association and Australian Property Law Kits, you have to study how they work. You’ll have to pay for the disbursements alone, as well. In addition, you don’t have indemnity and fidelity coverage for security purposes.
When transferring property titles, it’s best to choose those that’ll act according to your preferences. As such, you won’t encounter any trouble in the future.