A Conveyancer’s Role and Responsibilities
ADVICE PRIOR TO SIGNING
Vendor’s are NOT entitled to a “Cooling-Off” period so please ensure that your Contract will suit your needs. Take into consideration the length of Settlement (Discharging a Mortgage can take anywhere between 3-8 weeks!), Purchase Price, Deposit Amounts (more is better!) and Subject to Purchasers Sale Contracts. If you require any advice please do not hesitate to contact me on 0410 037 659.
…Receiving Instructions from your Real Estate Agent
My immediate concern will be to check that both the Contract and Form One have been prepared and served correctly upon the Purchaser. This is to ensure that the Purchaser does not have the opportunity to cancel the contract after the “Cooling-Off” period.
At this time, a Conveyancer begins to liase with your Agent, your Mortgagee and the Purchaser’s Conveyancer, co-ordinating and attending to any matters required to ensure your Property Settlement will be ready for the date nominated on your Contract.
Most Mortgagees request that Conveyancers start the process of Discharging your Mortgage. I will forward Instructions to you and forward them to your Mortgagee once they have been returned to the office.
PLEASE NOTE: Discharging a Mortgage can take anywhere between 3-8 weeks. Please return Discharge Instructions as soon as possible!
In order to legally transfer the Property from your ownership, the Purchasers Conveyancer will prepare a Memorandum of Transfer, as instructed by their Purchaser. Once this has been signed by the Purchaser, it will be forwarded to my office. I will arrange an Appointment with you to sign that you accept the Transfer.
In preparation for Settlement, I will book all parties required to attend, receive a Final Payout Figure (The amount outstanding under your Mortgage to Settlement), prepare your Settlement Statement, request Bank Cheque directions and Bank Account details from you. I then notify the purchaser’s Conveyancer of the Final Amount that we require to Settle and forward details of the Cheques to be collected at Settlement.
Settlement occurs at the Adelaide Land’s Titles Office and is attended by your Mortgagee, and the Purchasers Conveyancer. I receive your Discharge of Mortgage Documents from your Mortgagee and hand them to the Purchasers Conveyancer in return for the Bank Cheques requested.
Please Note: I am unable to be contacted during a Settlement. I “check in” on FaceBook when I am at the Land’s Titles Office so that you know where I am! Thankyou for your patience during these times!
I attend to the Banking of your Proceeds IMMEDIATELY following Settlement. Please be aware that unless organised with your Bank, Bank cheques will be cleared AS PER YOUR FINANCIAL INSTITUTIONS POLICY.
I also finalise any outstanding accounts with your Real Estate Agent, Local Council, RevenueSA (Emergency Services and Land Tax)and SAWater. I also provide these agencies with details of the new owners. You will need to notify any personal services such as electricity, gas and phone.
Approximately 2-3 weeks following Settlement, your Water Usage to Settlement will be calculated, and any refund due returned to you.
Your file is not closed until a final check of the Certificate of Title shows that all Documents have been registered with the Land’s Titles Office.
Please do not hesitate to contact me on 0410 037 659 for a written quote or with any further queries that you may have,