Looking to Buy or Sell a Property?
We Are the Conveyancing Lawyers In Melbourne to Speak to!
If you are looking at selling your home, buying a property or transferring your interest in a property, we are here to help.
As experts in conveyancing, our property law team is here to ensure that your property transaction is completed smoothly and effectively, and according to all local laws.
What Is Conveyancing?
Conveyancing is the legal process of transferring the ownership of a property from one person or entity to another. It involves a series of tasks and legal obligations that must be fulfilled in order to ensure a smooth and legally valid property transaction.
The Conveyancing Process
The conveyancing process in Victoria typically includes the following steps:
- The process starts with the pre-contract stage where the preparation and negotiation of the Contract of Sale is done, which outlines the terms and conditions of the property transaction. It also includes conducting property searches to gather information about the property, such as the title and plan, zoning, planning permissions, and any encumbrances or restrictions
- Next is the exchange of contracts, where the contract of sale is signed and exchanged between the buyer and seller, once the parties have agreed on the terms and conditions of the sale. At this point, the transaction becomes legally binding, and a deposit is often paid by the buyer
- After that comes the pre-settlement stage, where various tasks are carried out to prepare for the settlement, including calculating adjustments for council, water and other rates and taxes payable on the property, conducting final property inspections, coordinating with financial institutions if a mortgage is involved and arranging for payment of the balance of the purchase price
- Lastly comes the settlement, where the legal ownership of the property and title is transferred from the seller to the buyer. This step involves the payment of the purchase price, completion of all necessary documentation, and registration of the transfer of ownership with the relevant land registry authority.
What Does a Melbourne Conveyancer Do?
A conveyancing lawyer specialises in providing legal assistance and advice when settling property transactions.
Their role is to guide clients through the legal aspects of buying or selling property and ensure that the conveyancing process is completed smoothly and in accordance with the law.
A conveyancing lawyer’s role can range anywhere from reviewing the contract, preparing all the legal documents and assisting with settlement, to a wide range of related services that include giving legal advice, help with negotiating better terms, and managing the whole process from A to Z.
The Difference Between a Lawyer and a Conveyancer
While initially it may sound the same, there is actually a distinct difference between a Lawyer who undertakes conveyancing work (Conveyancing Lawyer) and a Licensed Conveyancer (Conveyancer).
Conveyancers hold a conveyancer’s licence authorising them to handle and advise on matters that are limited to conveyancing and property transfers. Although Conveyancers are not qualified to provide legal advice, assist with complex legal issues, assist with dispute resolution or represent you in court, typically they offer their services at lower rates and can settle all types of property transfers or refer you to a lawyer if any legal issues arise.
In contrast, a Conveyancing Lawyer must hold a law degree as the minimum educational qualification, must be admitted to practice law in court and can help you with many aspects of your property transaction that a conveyancer can not, such as:
- Providing comprehensive legal advice on a range of issues that may arise during the conveyancing process including advice on contract terms, default, litigation and dispute resolution, potential risks, and other issues that may arise, or that can be identified early and avoided entirely
- Complex transactions and issues that arise when it comes to off-the-plan purchases, subdivisions, related party transactions, commercial property transactions, and more
- Broader legal issues that may impact the property transaction, such as family law, estate planning, tax implications, business law and lease issues and matters relating to deceased estates
- Negotiation. Lawyers are trained to effectively negotiate on behalf of their clients, from negotiating contract terms to negotiations through the dispute resolution process
- Lawyers can use their legal experience, training and negotiation skills to effectively navigate towards a resolution or to identify and avoid complex legal issues before they arise
- A Conveyancing Lawyer can represent their client through all stages of a property matter to advise on and settle all possible scenarios
Do You Need to Use a Conveyancer for Melbourne Property Transactions?
While it is legally possible to handle your own conveyancing in Melbourne, it’s generally not recommended unless you have a thorough understanding of the law and the conveyancing process.
Conveyancing is typically a complex process, involving numerous legal documents, strict timelines, and important procedural steps, which, if not followed correctly, can lead to legal and financial repercussions.
It can also be very time-consuming, involving numerous tasks such as property searches, liaising with other parties, and ensuring all deadlines are met. Having a professional who is experienced in efficiently handling these tasks can save you a lot of time and stress, and ensure you don’t miss any crucial details.
There can also be significant financial risks involved in a property transaction. A small oversight or error could end up costing you a lot of money. An experienced conveyancer will help manage these risks.
While hiring a conveyancer or conveyancing lawyer does involve costs, many people find that the peace of mind, time saved, and potential risks mitigated are well worth it. An experienced conveyancing lawyer may even be able to save you money on the property transaction, making the cost well worth it.
Additionally, all registered lawyers and licensed conveyancers hold professional indemnity insurance.
Common Issues That Arise During the Conveyancing Process
During the conveyancing process, several common issues tend to arise that can complicate or delay the transaction, including:
- Issues with the property’s title, such as undisclosed encumbrances, liens, or conflicting ownership claims, which can pose challenges during conveyancing.
- Disputes related to property boundaries or survey discrepancies can arise, leading to disagreements between neighbours or uncertainties about the property’s size and boundaries.
- Restrictions imposed by local planning authorities, such as zoning regulations, building permits, or planning overlays can affect property use and development. Buyers must ensure compliance with these restrictions, and any non-compliance issues must be addressed before proceeding.
- Difficulties in obtaining finance or mortgage approval can cause delays in the conveyancing process. This includes challenges with loan applications, valuation issues, or changes in lending criteria.
- Building and pest inspection reports can uncover issues like structural defects, termite infestations, or other building-related problems. These findings may require further negotiations between the buyer and seller, or in some cases, termination of the contract if the issues are significant.
- Disagreements or disputes over contract terms, special conditions or amendments can arise between the buyer and seller. Resolving these issues may require negotiation, compromise, or in some cases, legal intervention.
- Delays in settlement can occur due to various reasons, such as incomplete documentation, outstanding financial obligations, or unforeseen complications. These delays can disrupt timelines and cause frustration for both parties.
- Failure to comply with legal requirements or regulations can pose problems during conveyancing. This includes issues such as failure to disclose important information, non-compliance with building codes, or non-payment of taxes or rates.
- Failure to meet contractual obligations, such as providing required documents or making agreed-upon repairs, can lead to disputes and potential termination of the contract.
Dealing with these issues on your own, especially if you do not have extensive experience, can not only be extremely stressful but also costly if not handled correctly. This is where having a conveyancing lawyer on your side becomes well worth it.
What Makes Our Conveyancing Lawyers Your Best Choice?
When you engage us to manage your property conveyance, you are in safe hands. Our priority is to protect your interests, explain the process in plain English and keep you updated every step of the way.
We are here to ensure your experience with transferring the legal title of your property is stress free and seamless. But if there are bumps along the way, you can take comfort knowing that we are on your side, and by your side.
Our conveyancing lawyers have a deep understanding of property law, regulations, and the conveyancing process in Victoria. We have years of experience handling a wide range of property transactions and are familiar with all the potential challenges and their solutions.
We pay close attention to detail, ensuring that all documents are accurately prepared, reviewed, and submitted. We thoroughly analyse the Contract of Sale, property searches, and other legal documents to identify potential issues and protect your interests.
Effective communication is vital in conveyancing. Part of our process includes communicating clearly, promptly responding to all of your queries, and keeping you informed about the progress of the transaction. We explain legal terms and concepts in a way that our clients can easily understand.
We always prioritise your best interests and understand that every transaction is different. We take the time to understand your specific needs and circumstances, provide tailored advice, and work diligently to achieve your goals.
Our extensive experience allows us to anticipate any potential issues and takes proactive steps to address them. By conducting thorough due diligence, identifying risks and providing solutions we are able to mitigate or resolve problems that may arise during the transaction.
How Our Conveyancing Team Will Help You
Our team goes above and beyond the standard requirements of typical conveyancers, helping you will all aspects of the conveyancing process including:
- Contract Preparation and Review: We assist in the preparation and review of the Contract of Sale, which includes terms and conditions of the property transaction. This ensures that the contract accurately reflects the intentions of the parties and provides you legal protection.
- Property Searches and Due Diligence: We conduct various property searches to gather information about the property, such as titles and plans, planning permissions, zoning restrictions, easements, and any encumbrances or liabilities associated with the property. We then review these search results to identify any potential issues or risks and advise you accordingly.
- Legal Advice: We provide legal advice throughout the whole process, including explaining complex legal terms and obligations, advise on legal rights and responsibilities, and answering any questions or concerns you may have.
- Negotiations and Amendments: If there are negotiations or amendments required in the Contract of Sale, we represent your interests and assist in negotiating favourable terms. We will ensure that any changes made to the contract are legally valid and properly documented.
- Financial and Mortgage Arrangements: We will liaise with financial institutions, mortgage lenders, and other relevant parties to facilitate the financial aspects of the transaction.
- Settlement and Completion: Once we reach settlement, we will ensure that all necessary documents and payments are prepared, coordinate with the buyer’s or seller’s legal representatives, attend settlement on your behalf, and oversee the transfer of funds and legal ownership of the property.
- Registration and Post-Completion Matters: After settlement, we will ensure all relevant authorities are notified of the change of ownership including the State Revenue Office, council and water authorities and any owners corporation associated with the property.
- Legal Representation and Dispute Resolution: In the event of legal disputes or complications arising during or after the conveyancing process, we are here to provide legal representation and assist in resolving the issues through negotiation, mediation, or, if necessary, litigation.
Basically, we offer a complete A-Z management service of the entire conveyancing process, ensuring a stress-free process for you no matter what comes up.
Our Conveyancing Services Include
Buying & Selling Property
- Contract and s32 Vendor Statement preparation
- Established houses
- Vacant Land
- Units and apartments
- Commercial property (factories, warehouses and offices)
- Licence agreements
- Caveats
- Retirement Villages
Pre-Purchase Legal Advice
- Review and advice on the Contract of Sale and s32 Vendor Statement
- Advice on off-the-plan contracts including apartments, units and vacant land
- First Home Buyer guidance
- House and land packages
- Stamp duty considerations including First Home Buyers Grant (FHOG), First Home Buyer stamp duty exemption or concession, principal place of residence stamp duty concession or exemption, pensioner stamp duty concession or exemption and other potential stamp duty concessions or exemptions that may be available
Property Transfers
- Transfer between brothers and sisters, parents, children and grandparents
- Transfers between same sex couples
- Transfers between spouses or domestic partners
- Deceased estates - transfers to an executor, surviving spouse or beneficiary of a will
- Change in the manner of holding from joint proprietors to tenants in common or vice versa
- Transfers between family trusts and companies
- Advice on stamp duty exemptions for transfers between spouses and related parties including stamp duty exemption eligibility on transfers as a result of relationship breakdown or divorce
Retail and Commercial Leases
- Retail Leases
- Commercial Leases
- Landlord Disclosure Statements
- Transfer and Assignment of Leases
- Renewal and variations of Leases
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FAQ Regarding Conveyancing
What is a Contract of Sale and Section 32?
A Contract of Sale and a Section 32 Statement are two key documents in the process of selling a property in Victoria. Both of them are required for the transaction to be legally completed.
Contract of Sale
This is a legally binding agreement between the seller and buyer of a property. It outlines all the terms and conditions of the sale including price, the deposit amount, the settlement date, any special conditions and what is included or excluded from the sale (like fixtures and fittings).
Once both parties sign this contract and the buyer pays the deposit, they are committed to the terms of the sale.
Section 32 Statement
Also known as a Vendor’s Statement, a Section 32 Statement is a document provided by the seller to the potential buyer, usually before the Contract of Sale is signed. Its name comes from Section 32 of the Sale of Land Act in Victoria, which requires sellers to provide certain information to prospective buyers. This information includes:
- Details about the property’s title, including any encumbrances like mortgages or easements.
- Any planning restrictions or zoning information.
- Outgoings like council rates, water rates, land tax and body corporate fees (if applicable).
- Any notices or orders issued by authorities affecting the property.
- Information about services connected to the property.
The purpose of a Section 32 Statement is to provide transparency to the buyer and protect them from purchasing a property that has issues they were not aware of.
The Section 32 Statement is a legal requirement, and if the seller fails to provide an accurate Section 32, the buyer may have rights to withdraw from the contract before settlement.
When Should I Engage a Conveyancing Lawyer?
The best time to engage a conveyancing lawyer is at the early stages of buying or selling a property.
Some key points when you should seriously consider hiring a conveyancing lawyer include:
- Before signing any contract – this is specifically important for buyers
- Before listing a property for sale in order to prepare the legal documentation and meet all legal obligations
- Before bidding at an auction, have a lawyer review the documents. If you are the winning bidder, you are legally obligated to complete the purchase.
- For all Off-the-Plan purchases
- When dealing with complex transactions such as commercial property, strata properties or properties with encumbrances or caveats.
What Documents Are Involved In the Conveyancing Process?
There are several key legal documents that must be prepared, exchanged and registered during the conveyancing process in Victoria, including:
- Contract of Sale which outlines the terms and conditions agreed upon by the buyer and seller
- Section 32 Statement (Vender’s Statement) which is prepared by the seller and provides important information about the property to the buyer
- Transfer of Land Document which is prepared by the buyer’s lawyer and is used to legally transfer the property from the seller to the buyer. This document needs to be lodged with
- Land Use Victoria for registration
- Stamp Duty Forms, which are necessary for the buyer to pay stamp duty on the property
- Notice of Acquisition, which is prepared by the buyer’s lawyer and notifies the local council and other authorities about the change of ownership
Loan documents, including the Loan Agreement and - Mortgage Deed, which are required if the buyer is taking out a mortgage to purchase the property
- Adjustment Statement, which is prepared by the buyer’s lawyer to adjust the rates and taxes on the property between the buyer and seller at the settlement date
- Settlement Statement, which outlines the final figures that the buyer needs to pay on the day of settlement.
How Long Does the Conveyancing Process Usually Take?
The conveyancing process in Melbourne typically takes around 60 to 90 days (2 to 3 months) from the date the contract is signed until settlement.
However, this can vary based on several factors including any special conditions in the Contract of Sale, the length of the settlement period agreed upon by the buyer and seller, the responsiveness of the parties involved, and whether any unforeseen complications arise.
What Happens If There Are Issues Discovered During Property Inspections?
If issues are discovered during property inspections, there are several potential courses of action that the buyer can take:
- If significant problems are found, such as structural issues, pest infestation, or needed repairs, the buyer may be able to negotiate a lower price to account for the cost of addressing these problems.
- The buyer can negotiate for the seller to repair significant issues before the sale proceeds.
- If the contract includes a building and pest inspection clause, the buyer may be able to withdraw from the purchase if major issues are identified and they’re unwilling or unable to deal with them.
- If the issues discovered are minor and the buyer is comfortable proceeding with the purchase, the transaction can move forward as originally planned.
- If issues arise during the property inspections, these should be discussed with your conveyancing lawyer so that they can advise you on the best course of action in your particular situation.
What Is the Cooling-Off Period, and How Does It Affect the Transaction?
The cooling-off period is a specific amount of time after a contract of sale is signed during which the buyer can cancel (or ‘rescind’) the contract. In Victoria, the cooling-off period for a residential property contract is three business days, which starts the day the buyer signs the contract.
If the buyer decides to cancel the contract during the cooling-off period, they must provide written notice to the seller or their agent, and they are entitled to a refund of the purchase price, but the seller can keep $100 or 0.2% of the purchase price, whichever is greater.
Property transactions not subject to a cooling-off period in Victoria including commercial properties, sales by auction and sales made within three clear business days before or after a public auction.
The cooling-off period is designed to protect the buyer, allowing them some time to consider the purchase and seek professional advice if they haven’t done so before signing the contract. If the buyer has any doubts or second thoughts about the transaction, this period provides an opportunity to cancel the contract without significant penalties.
Can I Change My Melbourne Conveyancer During the Process?
Yes, you can change your conveyancer during the process in Melbourne.
Keep in mind that changing your conveyancer partway through a transaction can be a complicated process, and it could potentially create delays. It’s essential to ensure that the reason for making the change outweighs the potential complications.
If you need to change your conveyancer, the process is typically as follows:
- Formally inform your current conveyancer in writing that you are terminating their services and the date from which this is applicable
- Settle any fees owed for the work they have completed up to this point. You may need to negotiate this with them.
- Engage your new conveyancer and sign a new client agreement with them. It is a good idea to explain the situation and why you changed conveyancers so they can address any concerns or issues.
- Transfer all documents and files from your old to your new conveyancer or lawyer.
- Inform all other parties involved in the transaction (such as the real estate agent, the other party’s conveyancer or lawyer, and your lender) about the change.
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