What is conveyancing? | Buying property in Australia - NAB
What is conveyancing?
Conveyancing is the legal process that makes sure a property changes hands correctly. When you buy a home, it’s not just about paying the price. There are legal checks, contracts and official records that need to be handled so the property is legally yours. This process protects both the buyer and the seller.
Conveyancing usually starts after you agree on a price and sign a contract. Understanding this process early helps you plan your timeline and budget, which is important for your home loan. If you want to see how this fits into the full buying journey, our first home buyer’s guide provides the complete step-by-step journey.
Understanding conveyancers and their role
What is a property conveyancer?
A conveyancer is a licensed professional who manages the legal side of buying or selling property. They make sure the transfer of ownership follows all the rules and that you’re protected. While some people use a solicitor, conveyancers specialise in property law, which often makes them a more cost-effective choice.
Conveyancer’s responsibilities
When you hire a conveyancer, they review the contract of sale, check the property title, and make sure there are no hidden issues like unpaid rates or restrictions. They also arrange property searches, prepare documents for settlement and manage the transfer of ownership. Having this done correctly helps keep your home loan settlement on track.
Conveyancing costs
Fees vary based on property type, location, and complexity. You will usually pay for professional fees plus disbursements, such as title searches and certificates. Solicitors may charge hourly rates while conveyancers often offer fixed fees, which can help you budget. This is your chance to also explore the other upfront costs involved in buying property.
When to hire a conveyancer
It’s best to hire a conveyancer as soon as you start looking seriously at buying a home. They can review the contract before you sign, which helps you avoid costly mistakes. Waiting until after you sign can limit your options if something is wrong with the terms. They’ll also guide you through important deadlines, like cooling-off periods and settlement dates.
How to find a property conveyancer
Start with personal recommendations, then check licences, experience in your area and reviews. Compare quotes, ask what is included and confirm communication preferences, such as updates by email or portal. Choose someone who explains things clearly, answers questions and provides a realistic timeline.
Checklist of questions to ask your conveyancer
Before you hire a conveyancer, use this checklist to make sure you have all the important details.
What are your fees and what do they include?
Ask for a full breakdown so you know exactly what you’re paying for.
Do you offer a fixed-price service?
This can help avoid unexpected costs.
How will you keep me updated during the process?
Find out if they prefer email, phone calls or an online portal.
What happens if there are delays or issues with the property title?
Make sure they explain how they will handle the problems.
Are there any extra costs that I should know about?
Ask about searches, settlement fees and disbursements.
How long will the process take?
Get an estimated timeline for each stage of the buying process. And what happens if settlement is delayed.
How will the funds be transferred?
Your conveyancer will explain the payment process, including how settlement funds move securely between your bank and the seller.
Ready for your next step?
It’s important to understand that conveyancing is just one part of buying a home. Having the right financial plan is just as important to make sure settlement goes smoothly. If you’re in the market for a home loan, speaking with a NAB banker can help you align your budget, loan approval and settlement timing. Our team is here to guide you through the financial side while your conveyancer handles the legal details.
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The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial and taxation advice before acting on any information in this article.
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