FAQS in Conveyancing
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When can I contact you?
As your Licensed Conveyancer, you are always welcome to contact me by text, email or mobile telephone if you have any queries or concerns with your conveyance.
How do I buy a house?
Once you have decided to purchase a property, you should consider your ideal value price and make an offer to the vendor. You can discuss the “offer” method with the agent. Once the vendor accepts your offer, the agent will request your full details, including your conveyancer. The contract will then be submitted to your conveyancer. I will make an appointment with you to review the contract together and sign. Exchange of contracts will be arranged with the vendor. The effect of exchange will bind both parties to the terms of the contract.
What is the cooling off period?
The cooling off period is available only to a purchaser in a contract. The vendor is immediately bound by an exchanged contract. The standard cooling off period is 5 business days from the date of exchange. Hence, if exchange took place on a Monday, generally the cooling off period will expire at 5pm the following Monday. That is, unless there is a public holiday during that 5 day period, which will not be counted and the cooling off expiry date will be the next day, Tuesday.
Another important requirement with the cooling off period is, in order to enter a cooling off period, the purchaser must provide a deposit. The amount of the deposit is usually 10% of the purchase price but can be negotiated between the parties. During the cooling off period, the purchaser has the ability to rescind, walk away from, the contract for any reason whatsoever. No questions asked. However, they will forfeit 0.25% of the purchase price to the vendor in the process.
Are you the same as a solicitor?
The short answer is “yes”. A licensed conveyancer is the same as a lawyer or solicitor when purchasing and selling property. Conveyancers have a licensing system that requires us to be insured with professional indemnity insurance cover, have accrued continuing professional points of at least 5 points every year and pass a risk assessment exam every year with a minimum pass mark of 85%. We are then required to apply for our practising licence every year and prove our compliance with the conditions of approval.
Can you prepare a contract to sell my house?
Yes. A Licensed Conveyancer is the same as a lawyer or solicitor and can prepare a contract for the sale of your house.
How do I sell my house?
Contact me to discuss instructions to prepare your contract for sale. I can meet you at your sale property to do an on-site sales contract consultation and we will discuss the best elements of your property to include in your sale contract to aid the marketing process. We can also use this meeting to look through your documents when you purchased the property in case they can be used for your new sales contract and help you save unnecessary expense.
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