In brief, conveyancing is the process of transferring ownership rights of a property from one person to another.
At Direct Mobile Conveyancing all of our staff are experienced in the processes and legal requirements to transfer any property in Victoria, whether you are selling:
When you decide to sell your property the first step is to arrange the preparation of your Vendor’s Statement (Section 32 Statement). You cannot legally sell your property without this document.
A Section 32 Statement is a disclosure statement that you must provide any prospective Purchaser with before they sign a contract. The Section 32 Statement must be prepared in accordance with the state laws governing conveyancing. This is important as a Purchaser can rescind a Contact of Sale if this is not prepared properly or if some of the statutory regulations are excluded.
The state laws governing conveyancing require you to disclose specific information to your buyer before they sign a contract.
Below is an overview:
Copy of the title showing your right to sell.
Copy of the land dimensions.
Details of any restrictions.
Details of any easements.
Zoning details and relevant council.
Building approvals.
Owner builder/registered builder details.
Rates affecting the land.
Body Corporate details.
Details of any notices affecting your land.
It is paramount that all areas of the legislation are satisfied as your Purchaser will have legal remedies against you if you fail to comply with the requirements.
How long does it take to prepare a Section 32 Statement?
Generally we require 5 working days to search the property through the relevant statutory authorities and Land Titles Office. Once this has been done we will finalise the Section 32 Statement and Contract of Sale. This time frame may vary depending on whether you have carried out any work at the property through a registered builder or as an owner builder.
We will assist you with completing the questionnaire that enables our office to prepare the Section 32 Statement. We will then search the property through the relevant authorities to verify the information.
We will attach a Contract of Sale which includes conditions to protect your interest in the event that the Purchaser does not satisfy his/her legal obligations.
We will assist you with the contractual terms that may form part of the negotiations.
Deposit Bond
Vacant Possession
Receipt of Rents and Profits
GST Inclusive
GST Exclusive
Settlement
We will also provide you with a step by step breakdown of how the conveyancing process works and what you need to do.
Once your property has sold we will handle all facets of the transaction. In brief this includes:
The Purchaser's representative will ask a series of questions called Requisitions on Title, we will assist you with answering these questions to ensure there are no problems concerning the transfer of the said property.
We will arrange a Discharge of Mortgage and ascertain the amounts that need to be paid to any lending institutions involved. This enables transferring the title to your property to be completed upon settlement.
When the signed Transfer of Land document is received from the Purchaser's representative we will prepare the necessary transfer documentation required by the statutory authorities.
Prior to settlement we will receive a Statement of Adjustments from the Purchaser's representative. We will ensure that all Council/Water rates are paid up until the date of settlement and the Purchaser will pay for the remaining charge period.
We will attend the settlement on your behalf and once completed notify you and the relevant authorities of your disposition.
Once your property has sold and we have received a fully signed Contract of Sale from the Real Estate Agent we will serve the Section 27 Statement (release of deposit document) upon the Purchaser’s representative.
Pursuant to the Sale of Land Act the Purchaser will have 28 days to submit any objections to the release. Generally the Purchaser will object if you have a mortgage as they will require evidence that the total debt associated to the title is less than the sale price. Your lender will then be required to provide a letter supporting the mortgage particulars.
Please note, you are not guaranteed access to the deposit prior to settlement. However we will assist you where possible to access the funds.
Thank you for the opportunity to provide you with information regarding our fees and services.
At Direct Mobile Conveyancing we will provide you with a FIXED QUOTE for your conveyancing at the start of your transaction. Our fixed quotes are based on the standard conveyance and will include our service fee and GST. Disbursements will be charged as applicable to your transaction.
In brief this includes:
Arranging the Section 32 Statement and Contract of Sale.