Residential Conveyancing: What is it?
Residential conveyancing is the term used to describe the legalities surrounding the purchase or sale of a home. The final step in the conveyancing process, it involves both the buying and selling parties being satisfied with all the finalised paperwork and cheques, so that the property can be officially settled.
It might sound simple, but most homeowners do not have the professional background to independently deal with the legal intricacies of residential conveyancing. It is therefore wise to invest in a solicitor, who a buyer will likely have anyway if a mortgage is helping them to buy a home.
At Cape Settlements, we provide guidance from the start to finish of this process. From your real estate agent to your solicitor and your banker or broker, we work alongside all involved parties so that your residential settlement occurs when it should…leave the fine print legalities to us!
The Settlement Process
Before a property settlement takes place, in the majority of cases, the buyer and seller will have already signed a sale contract. The standard Western Australia contract of sale is comprised of two parts: 1) Contract for Sale of Land or Strata, and 2) Joint Form of General Conditions. Here both parties will find a summary of the terms and conditions relating to the settlement; this includes the date, sale price and the deposited amount.
Then we step in, working alongside all involved parties as a means of making sure that you meet your settlement obligations on time. We arrange things like stamp duty, council rates, water rates, and fees relating to the property itself, so that you can stick to the settlement schedule, all while keeping your day job!
Working as your residential conveyancer, think of us as the settlement agent who liaises between you and the other authorities involved in the settlement, including:
- The other party’s settlement agent
- Your real estate agent
- Your bank
- A mortgagee, if there is one
The ‘middleman’ between you and the other parties involved, we never leave you out of the loop, providing regular updates on the settlement’s status quo. With this comes peace of mind that everything is running as planned, and that you won’t encounter any hair-pulling problems on the way.
Being an independently-owned-and-operated family business, at Cape Settlements we know how big a decision it is to buy or sell a home. Marking a significant transition in your life, this can be an emotional time, and so we make it our duty to ensure this process is a seamless and stress-free one.
Viewing each transaction as unique, every one of our clients receives a highly personalised service. Get in touch with our highly experienced team today, and we’ll walk you through the process specific to your residential settlement transaction.