CONVEYANCING NEWCASTLE AND THE HUNTER VALLEY
WHAT IS CONVEYANCING?
What is conveyancing ? When do we need it? Let's start at the beginning. JRA legal are a practising law firm whilst based in Newcastle, provide conveyancing services to the whole Hunter Valley. Conveyancing is the process involving the transfer of property from one person to another. A New South Wales law provides that all transfers or transfers of property are made in writing and that each sale and transfer of property must be made under the laws of the state or local territory. Professional conveyancing lawyers such as JRA legal Newcastle make sure that the transfer of ownership of property complies with these laws. JRA Legal and conveyancing cater to both residential conveyancing and commercial conveyancing. The transfer process consists of two phases, the exchange of contracts and the settlement, including the settlement period and the settlement date.
The settlement period refers to the time elapsed between the exchange of the contract and the delivery of the key to the new owner. The settlement period allows enough time to complete any paperwork, finalize the finance, move from the property, clean the property, perform any repairs and check all the legal paperwork and checks. As noted above, conveyancing is a legal process and must, therefore, be handled by a licensed conveyancer or conveyancing solicitors. This protects the rights of all parties and makes sure that all the legal documents are lodged and are in compliance with all legal obligations.
Three basic steps in conveyancing, research, negotiation, and documentation. This ranges from verification of the sales contracts, requesting local councils to obtain an updated survey, building, and a construction certificate, to asking the relevant government departments for additional information and attending the final settlement. Conveyancing solicitors such as JRA Legal Newcastle are specialists in conveyancing and property law for all types of commercial and residential property. With our main office in Newcastle, we cover a range of council areas in the greater Hunter Valley area. We provide professional quality conveyancing services to the Newcastle, Cessnock, Lake Macquarie, Maitland, and Port Stephens council areas. Whether you're a first home buyer, a seasoned investor, buying or selling property, buying or selling commercial property or residential property, JRA Legal are the Newcastle conveyancing firm who make the process of conveyancing in Newcastle and the Hunter Valley easy. JRA legal Newcastle offer mobile conveyancing services for the greater Newcastle and Hunter Valley areas, we can come to you. If you want a professional, friendly, reliable and local conveyancing services, then call us now.
JRA is a family business who rely on its customers for repeat and referral business, our customers come first. We at JRA are happy to answer any queries you may have regarding the conveyancing process or you would like us to simply outline the costs and provide a conveyancing quote. JRA legal is a quality conveyancing law firm who understand we all have busy schedules, that is why we are available after hours and on weekends to take your calls and to call you to keep you updated with your matter. JRA are the solicitors who specialize in property matters, wills and estates planning, and conveyancing. As experts we take the stress out of the process wherever you are located.
WHEN DO YOU NEED A CONVEYANCER or CONVEYANCING SOLICITOR?
Some people decide not to engage solicitors until there is a signed sale contract because most of the work is done after this point. It is advisable to engage your lawyers or solicitors in Newcastle or The Hunter Valley as soon as possible, such as JRA legal Newcastle. There are many benefits of using lawyers early in the process. Sale contracts are binding legal documents, solicitors will ensure all the necessary special conditions are included and the contracts adhere to state and territory laws and regulations. Sale contracts are binding. Before the client signs a contract, a licensed conveyancer or solicitor will check it and advise on any potential issues with buying the property. By providing this essential legal advice, assisting buyers in knowing what they are dealing with before they sign a contract. Having your solicitor check the contract before signing minimises the risk of a regretful purchase. The settlement date impacts both the buyer and seller. Solicitors can help sellers determine the best settlement date before they sell the property, ensuring that the transfer goes as smoothly as possible. Conveyancing is a legal process and timeframes are strict in the conveyance process. Performing a conveyancing step late can often cause legal implications. A professional or lawyer will manage the whole process and ensure that each step is completed by the required date. Engage your solicitors as soon as possible so you don't inadvertently create any legal repercussions by missing important deadlines.
WHAT IS THE DIFFERENCE BETWEEN A CONVEYANCER & CONVEYANCING SOLICITOR?
When a property changes ownership the legal process of that change is called conveyancing. This process can be completed by either solicitors or licensed conveyancers. Many people don't know the difference between the two. Experienced buyers who have bought and sold many properties in their time, may not exactly know what a conveyancer does or what is involved in the conveyancing process. We get a better view if we explore and compare the roles of a licensed conveyancer and a conveyancing solicitor, we can see what differences there are between the two. Why does it matter whether you work with solicitors or a licensed conveyancer? Both licensed conveyancers and solicitors can provide legal services for residential conveyancing and commercial conveyancing matters.
Licensed conveyancers must have completed a minimum of 2 years of study at the tertiary level on real property law, obtaining qualifications such as an Advanced Diploma of Conveyancing. Licensed conveyancers must also have completed at least 2 years' practical experience in conveyancing work, including at least 1 year under the supervision of a licensed conveyancer. A licensed conveyancer specialises in 'real property' related law. Conveyancing solicitors have the skills and experience to undertake the legal work involved in a conveyancing transaction. Conveyancing solicitors must have completed a minimum of 4 years of study at the tertiary level to obtain a Bachelor of Laws.
Conveyancing solicitors or lawyers can practice in many areas of law, they have specific knowledge about property law, inclusive of conveyancing. Lawyers also have a broader knowledge of the law in general. A conveyancing solicitor has the skills and experience to undertake the legal work involved in the conveyancing transaction. If the transaction goes pair shaped solicitors may have the expertise and credentials to handle any other legal issue, whereas a conveyancer would need to refer it to lawyers or solicitors. The key distinction between these two types of professionals lies in the legal expertise. If you do decide to use a conveyancer instead of a solicitor, it's important to be aware of the differences. Most crucially, there are certain tasks related to property transactions and real property law that can only be executed by a lawyer. This means that as your solicitor, we can advise you as our client on all aspects of a conveyance, and also on issues that might arise relating to the purchase or sale of the property. These could include things like certifying and managing the paperwork when a power of attorney is required to sign a property sale contract. Solicitors can advise you on the potential tax or family planning implications of a property transaction. Solicitors can give guidance on how the sale of a property might impact your divorce proceedings. The range of legal services we provide as qualified lawyers mean our services expand into other areas of property and contract law, including tax, equity, and deceased estates.
This gives you as a property buyer or seller the peace of mind that no matter what situation unfolds throughout your property experience, we can offer a full range of advisory services. As one of the top conveyancing solicitors and lawyers in Newcastle NSW, you can rest assured JRA Legal and Conveyancing has got it covered.
WHAT DOES A PROFESSIONAL CONVEYANCER OR CONVEYANCING SOLICITOR DO?
During a property sale, both the buyer and the seller will need to engage the conveyancing services of a licensed conveyancer or conveyancing solicitor, as sale contracts are legal documents and include legal obligations for both parties. The main role of a conveyancer is to prepare the legal documents as required by the law. These legal documents are required for any property transaction whether it be a commercial matter or a residential matter. Your lawyer is to provide advice as required and where needed. Depending on whether you’re buying or selling, a conveyancer may do the following in the sale or conveyancing process.
Conveyancing lawyers prepare necessary legal documents. This is for both residential conveyancing and commercial conveyancing. Several legal documents are required during a property sale. Each of these is vital to the process and must be in line with state and territory laws. A conveyancing solicitor has the skills and experience necessary to prepare all required documents and provide advice on any document that must be signed by their client. Both the seller and buyer will need documents prepared before the transfer of a property is complete. JRA legal Newcastle has expertise in all these areas. In NSW, a lawyer or solicitor will prepare the Contract of Sale to enable the selling agent to market the property. The conveyancing solicitor will need to do a lot of research before preparing the vendor's statement. This includes title and planning searches. Contract of Sale must include a copy of the title documents, drainage diagram and a current zoning certificate (s149) issued by the local council. Also, if the property has a swimming pool or a spa, then various certification forms must also be attached. Exemptions may apply to this, for example, if the property is a lot in a strata or community titles scheme, or has been purchased off-the-plan. Once a buyer has agreed to terms the Contract of Sale is finalised. This document sets out the terms and conditions agreed upon between the buyer and seller clearly and concisely. The Contract of Sale can be prepared by a conveyancing solicitor such as JRA legal and conveyancing.
What's included in a Contract of Sale?
A Contract of Sale is a legally binding agreement. That is why we advise having your conveyancers or solicitors look over these before signing them. Several details will be included in a typical Contract of Sale. To be included are the conditions of the sale, such as financing information or additional building inspections required. The contract will include the names of the vendor and purchaser. The solicitors and licensed conveyancers will include the property's address. The conveyancers will include the sale price of the property and the amount of deposit that must be paid. Also in the contract is the agreed date for the property settlement, whether the property will be available as vacant possession, or if it is subject to a lease. Also outlined in the contract will be any personal property sold as part of the deal. In addition to the above conveyancing solicitors act on your behalf by responding to buyer requests and provide you with specialist legal advice when needed.
WHAT DOES A CONVEYANCER OR CONVEYANCING SOLICITORS DO WHEN BUYING?
A Conveyancing lawyer will prepare and lodge necessary legal documents
Explain legal documents prepared by the seller’s conveyancer or conveyancing solicitor
Conveyancing solicitors conduct property research, including planning and title searches where required
Ensure each step is completed by the due date or request extensions on your behalf
Hold deposit in a trust account and make payments on your behalf
Conveyancing lawyers calculate rates and tax adjustments
A conveyancing lawyer will act on your behalf by responding to seller requests
Advise when the property is settled
The conveyancing solicitor will advise your bank or financial institution on when payments will be made
PREPARATION OF LEGAL DOCUMENTS
Several legal documents are required during a property sale. These should be prepared by your solicitor. Each of these is vital to the process and must be in line with state and territory laws. A lawyer has the skills and experience necessary to prepare all required documents and provide advice on any document that must be signed by their client. Both the seller and buyer will need documents prepared before the transfer of a property is complete.
Preparation of Legal Documents When Selling
When selling a property, a conveyancing solicitor will prepare the following documents for the seller:
License agreement (in cases where the buyer takes possession of the property before the settlement date)
Any other legally required documentation. The contract of sale will include any special conditions requested by the seller and the buyer. These can include the following in the contracts of sale, sunset clause, subject to a prior contract terminating, subject to finance, subject to building and pest inspection, subject to settlement of a sale of another property or subject to sale of another property. An experienced conveyancer will need to do a lot of research before preparing the vendor's statement. This includes title and planning searches.
Preparation of Legal Documents When Buying
When buying a property, an experienced conveyancing lawyer or conveyancer's will prepare the following documents for the buyer: Transfer documents, statements of adjustments, settlement statements and provide and legal advice when required, Legal jargon and processes can be both confusing and daunting. A conveyancer's role largely consists of document preparation, but they are also excellent legal advisors when it comes to property law. Having a trusted conveyancer on your team will help you feel confident that things are progressing as they should be and that you are meeting all of your obligations.
WHAT HAPPENS ON SETTLEMENT DAY
Settlement is an important part of the conveyancing process, and it can be a big problem if settlement is delayed. One example of this is when a buyer is unable to settle on the agreed date. The buyer is then liable to pay interest (calculated daily) on the outstanding sale amount until settlement occurs. However, this can be avoided if the seller agrees to waive the interest payments or extend the settlement date. Throughout the settlement process, communication is key.
Leading up to settlement, JRA Legal and Conveyancing Newcastle will do the following on behalf of the buyer and seller:
Organise a suitable time for settlement: Although the settlement date has already been set and included in the sale contract, the conveyancers will find an appropriate time for settlement to occur. This needs to be suitable for banks or financial institutions, as well as the buyer and seller.
Contact bank or financial institution: the buyer’s conveyancer will contact the bank to ensure funds are cleared and available to pay the seller. They will also book settlement with the bank and provide any necessary information.
Contact the real estate agent: once all money owing on the property is paid, the conveyancer will contact the seller’s real estate agent and advise that they may hand over the keys to the buyer. The seller’s conveyancer will also confirm this with the real estate agent.
If you are holding the money yourself, you must make this available to your conveyancer 24 hours before settlement day. This gives the conveyancer enough time to complete everything before the settlement deadline. When you require a top conveyancer in Newcastle, JRA Legal and Conveyancing are available after hours and on weekends. JRA Legal and conveyancing assure you of friendly service at all times, are highly professional and well regarded. JRA Legal and Conveyancing Newcastle are reliable, local and affordable. JRA Legal are the conveyancing lawyers who are fast, efficient and make sure YOU the clients are looked after from start to finish.