Conveyancing is the legal process of transferring property from a previous owner to the new one. Conveyancers are typically involved with both the buying and selling of property. Professional conveyancers oversee the documentation process and ensure that their clients meet all legal requirements throughout the transactions. States and territories generally have their own conveyancing processes and requirements, so hiring a solicitor may be in your best interest. Legal fees can vary significantly, but conveyancing costs in Brisbane, for example, often range from $500-$1,300.
For those interested in handling conveyancing themselves, it is possible, but it’s often only recommended for the simplest of transactions, such as a straight-forward cash purchase of a property. If a mortgage is in the mix, then it’s likely the bank will insist on enlisting a professional conveyancer to protect their interests, and trying to take on a non-standard purchase will also make things more complicated. You also need to bear in mind that you’ll be personally responsible for any mistakes made during your own conveyancing. If you are still comfortable with the idea, you’ll need to understand a conveyancer’s role and what you’ll be undertaking.