A conveyancing solicitor handles the legalities of buying and selling property. The role of a conveyancing solicitor varies slightly depending if they are acting for the vendor or the purchaser, but their role is to represent the interests of their client to ensure title is legally transferred between parties. Generally, regardless of who they are acting for, a conveyancing solicitor will provide their client with advice, but they ultimately act on the client’s instruction. They will assist you in understanding your rights and obligations during the process and can facilitate finance with your bank if necessary, and will represent you in communications with the vendor’s representative and pass information along to you.
A conveyancing solicitor who acts for the vendor had duties including: drawing up the contract of sale outlining the terms of settlement, preparing transfer documents to ensure they comply with regulations in the relevant state or territory to enable legal ownership to be transferred, conducting searches into the property, calculating the adjustment of rates and taxes, arranging the time of settlement and settling the property on your behalf.
On the other hand, when acting for the purchaser, a conveyancing solicitor will review the contract of sale provided to them by the vendor’s representative to ensure it protects your rights and reflects your instructions. They conveyancing solicitor acting for the purchaser will also conduct searches into the property to ensure any necessary adjustments are made.
Conveyancers can also be used to assist you with the process of buying and selling, however it should be noted they are only able to give legal advice on the property. In contrast, a conveyancing solicitor has a broader knowledge of the law and can advise on issues that may fall outside of the property transaction and may be better placed to handle more complex sales.