Question 1

What is a cooling off period and how does it affect me?

Accepted Answer

A cooling off period is a period of two (2) business days after the sevice of the Form 1. During this time the purchaser can choose to 'cool off' and exercise their right to terminate the contract without any consequences.  The method and options to cool off are set out in the Form 1.

Question 2

What does a conveyancer do?

Accepted Answer

Conveyancing is the term used for the legal and statutory process required to affect the transfer and ownership of real estate from one person or entity to another.
 
The preparation, execution, verification and lodgement of various Real Property Act Forms  prepared under the Real Property Act guidelines and standards are important elements of conveyancing.
 
We provide guidance and explanations in an easy to understand way, avoiding overly complicated  terms to help you understand what you are signing when entering into a contract answering your questions that may arise. 
 
Following your instructions, your conveyancer will assist you to meet your legal obligations with settlement and guide you with your rights and obligations of the contract.
 
The understanding and interpretation of the title of the property is one of the most important elements of conveyancing.
 
Your conveyancer will conduct the appropriate searches  relevant to the property rates , taxes and government obligations and answer any inquiries you may have and ensure you have an understanding of your obligations under the contract and the cooling off period.  Your form 1 can provide information of any site contamination, encumbrances and easements that may be affecting the property.  It is the an owners obligation to prepare this and have served on a potential buyer and it is the buyers due diligence and at their own discretion to make any further enquires relevant to the purchase, we highly recommend a building and pest inspection take place before settlement and the cooling off period where possible,  giving purchasers the opportunity for peace of mind and/or an opportunity to address any concerns prior to settlement with the owners via the real estate agent.  
 
This is a list of some of the tasks a conveyancer will complete on your behalf.
 
- Verify your identity
- As you to sign a client authorisation
- Search the Certificate of Title
- Provide advice on the effect of the contract for the sale of land
- Prepare and cerify legal RPA documents to affect the transfer
- Stamp required documents
- Calculate the adjustment of rates and taxes
- Prepare settlement documents
- Liaising with mortgagees and financiers
- Attend at settlement whether in person or electronically
- Store relevant documents
 
Some conveyancers also provide a range of services in relation to:
 
- Buying and selling commercial and industrial property
- Commercial and retail leases
- Contracts for the sale or purchase of a business
- Subdivisions and new titles

Question 3

Can I buy and sell a house on the same day?

Accepted Answer

Yes, this needs to be a condition of the contract, purchase is subject to sale, you can have both settlements on the same day. The sale of your property goes through first. Then we will attend to finalising the purchase of your new property simultaneously.

Question 4

What are your qualifications?

Accepted Answer

The qualifications of your Conveyancer will differ from state to state,however, all states and territories require a tertiary qualification for all conveyancers.  It is best practice that Conveyancers obtain an Advanced Diploma of Conveyancing Services in (SA). Kailah Fuhlendorff has obtained these qualifications and it is a pre requisite for all Registered Conveyancing Staff to have completed this qualification at Innovative Conveyancing.

Question 5

What is the difference between a Solicitor and a Conveyancer?

Accepted Answer

Licensed Conveyancers specialise in Real Property Act Transfers. They do not carry out business as a legal representative and cannot assist in areas of property law or any related areas such as litigation or wills. In general, most people use a licensed conveyancer because it is a specialised area in terms of the preparation of the RPA forms and you will need  the guidance of an expert in the conveyancing area to complete the property transfer.

Question 6

Do you only look after residential buyers and sellers?

Accepted Answer

No, conveyancing is a diverse industry that requires many transactions and aspects of conveyancing services from deceased estates, subdivisions, matrimonial transfers and Real Property Act applicatons for change of name preparation of private contracts and Form 1 (cooling off papers).  We work closely with real estate egents, brokers and bankers and guide people through the process relative to their property transaction and circumstances.

Question 7

Do you offer online conveyancing?

Accepted Answer

Yes, also referred to as electronic conveyancing or e-conveyancing, online conveyancing allows parties to log in remotely to view and monitor their conveyancing transactions and share documents. It is a fast method of communication between your conveyancers and lenders.  For a long time, this was referred to as the future of the profession, however we are now proud to say that it is the new and preferred way to transact.

Contact us on 08 8263 3957

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