For most people, buying a house is the most important financial decision they will make so its best to understand everything about the house, the area and of course the legal issues involved in purchasing a home.
This Conveyancing eBook is used as a guide to explaining the conveyancing process when buying a home. Conveyancing involves legally transferring home ownership from one person to another. Understanding what is involved in the conveyancing process will help ensure there are fewer surprises along the way so you can move in and enjoy your new home straight away.
Conveyancing Guide- Free eBook
Everything you need to know about conveyancing
What is conveyancing?
Conveyancing is the legal process where ownership of real estate is transferred from one person to another.
This involves the preparation of legal documents – including a contract of sale and transfer of land document which are signed by both parties – property searches carried out on the property and attending settlement of the matter.
The parties or participants to a conveyancing transaction are:
- Vendor – the seller
- Purchaser – the buyer
- Financial institution (the bank) – where they have provided finance in exchange for a mortgage over the property
- Solicitor or Licensed Conveyancer managing the transaction on behalf of the vendor and purchaser respectively
- Finance Broker – who can be engaged to assist a purchaser to obtain a loan from a bank to purchase the property
