FAQs

When should I instruct a solicitor?

Knowing when to instruct a solicitor is crucial. It ensures you don't do it too early or too late when you've already had the process started and have made some mistakes along the way. You should instruct a solicitor as soon as you decide to buy or sell. You should pass the solicitor's details to the estate agent as soon as an offer is accepted.

How long is the conveyancing process?

The average conveyancing process takes 3 to 5 months. During this time, the conveyancer will run the necessary searches and legal checks and conduct negotiations and paperwork. However, the timeline can be extended if there are complications or delays during the various steps of the process. Depending on the nature of the delays, it could take up to 12 months to complete the process.

What are some of the conveyancing searches a buyer needs?

Various searches are required when buying property. In total, there are over 36 searches. But some are more important than others, depending on the location of the property and its purpose. The most important ones include the local authority search, the environmental search, the drainage and water search, and the channel repair search.

What are the critical dates to be aware of in the conveyancing process?

Although the conveyancing process has many steps, there are several important milestones you should keep an eye on. These include the contract date, the end of the cooling-off period, the financing approval date, the building and pest inspection date, and the settlement or completion date. Your conveyancing solicitor will keep you updated on these dates as they arrive.

When does the title to the property transfer to the buyer?

The process of changing the title of the property takes place after the settlement. This process can take weeks or months, depending on the time each financier takes to lodge the transfer documentation with the Lands Titles Office to record the legal ownership of the property officially. However, the buyer can occupy the property after the settlement.

When do I get the keys?

The arrangement for the handover of the keys is made between the buyer and the seller in advance of the completion date. In most cases, the keys are left with the estate agent for the buyer to collect after the funds have been received by the seller’s conveyancer.

What is the difference between exchange and completion?

The exchange of contracts takes place a week or two before completion. Exchange simply means you agree to complete the sale or purchase on the agreed date and at the set price. Completion is the day when you move into your new home or hand over the keys to the property you are selling.

Do you need a survey when buying a property?

It is recommended that you get a survey when buying property to avoid surprises. With many properties, it is important to have a home-buyers survey or a builder's survey to ensure the structural integrity of the property.