Buying a home or investment property can be exciting, frustrating, and even intimidating.

Your conveyancer plays an important role in the purchasing process, offering advice and assistance on matters including:

• Types of title and forms of ownership;
• Your legal obligations including your insurance responsibilities;
• The meaning of any encumbrances or caveats;
• Understanding special conditions or "subject to?" clauses;
• Requesting special conditions;
• Your cooling-off rights;
• Circumstances in which a party can avoid settlement;
• Available grants, concessions and rebates;
• Fees and charges, including rates & taxes to be adjusted; and
• Change of ownership notifications.

The specific conveyancing services involved in a purchase include:

• Reviewing the contract before you sign;
• Searching the certificate of title to ensure proper ownership;
• Searching with government departments and local authorities for anything affecting the property;
• Advising on the information in the statutory disclosure statement (referred to as a Form 1);
• Compliance with all special conditions and time limits;
• The preparation, certification and stamping of documentation;
• Liaising with your proposed lenders and financiers;
• Calculation of adjustments of rates and taxes;
• Preparation of settlement statements;
• Properly accounting for all monies expended or held in trust;
• Assistance with signing the memorandum of transfer; and
• Attendance at settlement on your behalf.

It is wise to speak with your conveyancer before you sign any contract prepared by the agent. Your conveyancer may be able to alert you to matters that need to be addressed in the purchase of the property and can assist in preparing and vetting special conditions to be included in the contract.

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