Here are the duties of a conveyancer when appointed to act in the settlement on a sale of property. Your Conveyancer will also attend to numerous other matters that arise and answer any queries that you may have to ensure that your property settlement is carried out as efficiently and as smoothly as possible.
- Carry out Government and Semi-Government searches including a title search from Land Services SA
- Where there is a mortgage, caveat or any other registered charge on the Certificate of Title, your Conveyancer will take written instructions from you instructing the charge. In the case of a mortgage this would be a request to the Bank to issue a pay out figure to your Conveyancer for the amount payable at settlement to discharge the mortgage to provide a clear Title at settlement.
- Confirm with the Real Estate Agent that Special Conditions of the Contract have been fulfilled. As we don’t visit the property we need to rely on you or the agent to confirm that anything required has been completed.
- Complete your Verification of Authority Requirements to establish your right to sell the property.
- Complete your Verification of Identity Requirements and ensure you have signed your Client Authorisation.
- Obtain your authorisation to sign the Transfer on your behalf to complete the sale settlement.
- Prepare a settlement statement detailing the sale price and the Agent’s Commission, rates and taxes, bank loan to be repaid (if applicable), Conveyancer’s fee and any other money to be deducted from the sale proceeds.
- Take written instructions from you for the balance proceeds due to be paid to you from the property settlement.
- Arrange and prepare for settlement to either take place electronically at a mutually agreed time with the Purchaser’s Conveyancer and outgoing/incoming banks.
- The documents are duly executed and exchanged at settlement in return for the balance of the proceeds being received from the Purchaser.
- Once settlement has been completed, call you to advise you of your settlement.
- Contact your real estate agent so that they can release keys to your purchaser.
- Distribute the sale proceeds as required to the real estate agent, make rates and taxes payments and any other payments, then pay the balance to you as instructed in the ‘Payment Authority’.
- Advise Council, SA Water / Central Irrigation Trust and your Strata Manager (if applicable), about the change of ownership.
