Guides, Insights

Three things to look out for when choosing a conveyancer to ensure a smooth settlement

Last month, we provided tips for the property seller on swimming pool compliance. This month, we share how both sellers and buyers can benefit by knowing what to look out for when evaluating and picking a conveyancer.

WHAT IS A CONVEYANCER?

If it’s your first time buying a property, chances are you may not be familiar with what a conveyancer is or does. In a nutshell, they are property settlement professionals.

Your real estate agent is the ‘frontend’ professional you first meet, as they are the ones who help sellers to prepare and list properties for sale, and organise home opens.
The conveyancer is the ‘backend’ professional you usually don’t encounter until there is an agreement to transfer property between a seller and buyer, i.e., after the Offer and Acceptance Contract is signed. The conveyancer helps sellers and buyers take care of the administrative, financial, and legal aspects of the property transfer process to ensure both parties fulfil their responsibilities and exercise their rights.

WHY IS IT IMPORTANT TO HAVE A GREAT CONVEYANCER?

If a conveyancer is untrustworthy, there will be bad communication, errors, missed deadlines, delays, financial roadblocks, bad customer service, problems with finance brokers and banks, a higher risk of payment redirection scams, and general confusion and frustration for sellers and buyers.

The buyer may end up with a property in a condition that does not satisfy what is agreed at the point of signing the Contract of Sale, or, even worse, unknowingly end up without an undisputable legal right of ownership to the property they pay for.

YOU MEAN I CAN PICK MY OWN CONVEYANCER?

While real estate agents often work with preferred conveyancers, it is within your rights as property sellers and buyers to choose your own conveyancer, or at the very least be able to evaluate the one recommended by your real estate agent. Buying or selling a property is afterall a major decision, and you want competent and reliable professionals to help you make it a success.

Here are three things to consider when evaluating and picking a conveyancer.

#1 – PROFESSIONAL QUALIFICATIONS

Make sure your conveyancer has a valid Settlement Agent Licence or Legal Practice Certificate. This is obtained after:

Completing an accredited Diploma/Advanced Diploma in conveyancing, or law degree.
Depending on the Australian state, getting the equivalent of 12 months’ full time relevant work experience within 2 to 5 years of completing their Diploma under the supervision of a licensed conveyancer or lawyer. Working experience is usually obtained in a conveyancing firm or law firm.
The conveyancer has to maintain their licence or certification with adequate professional development activities every year.

#2 – RELEVANT EXPERIENCE AND EXPERTISE

Check if the conveyancer has a track record successfully settling similar properties in the same Australian state, as state laws can differ vastly. How long have they been in practice and how big is their team? You could often get a good sense of their passion and commitment to being the best in their profession, their approach to customer service, and their attitude towards innovation by how active they are in industry associations or other business activities. Check their website and online postings on social media like LinkedIn and Facebook.

#3 – APPOINT THEM EARLY!

Don’t wait until the last minute to appoint your conveyancer. As soon as you decide to sell or buy a property, assemble your team of property professionals, including real estate agent and conveyancer, to advise and protect you, especially against the technical things you don’t know that you don’t know about property transfer.

HOW KDD CONVEYANCERS HELPS

Let KDD help you succeed in all your property transactions:

We’re licensed professionals.
As a business, we have two decades of experience in conveyancing, and our team has over 150 years’ collective experience.
We are caring about getting the best outcomes for our customers, whether you’re a property buyer or seller.
Every team member was handpicked for their career achievements, passion, and great personality.
We are active and innovative thought leaders who are grateful to be recognised by our peers and industry associations with multiple industry awards.
We are entrepreneurial in bringing breakthrough proptech to our fellow conveyancers, with the vision of making things easier, faster, and safer for all parties in the property ecosystem.