Conveyancing is the term for the legal and statutory processes required to transfer ownership of property from one person or entity to another. It involves the preparation, execution and lodgement of various legal documents to enable a swift and legal sale or purchase.

With the shift to e-conveyancing, the whole process of conveyancing from exchange of contract to settlement can be completed electronically. We provide services to our clients through the best technology to ensure timely access to quality conveyancing services without the need to travel. We’re happy to work with you wherever you are, whether by phone, online or in-person. So, it is not necessary to attend the office, but you are most welcome to arrange an appointment to meet us.

We recommend that you seek legal advice before signing a contract. We can review the contract and provide legal advice in relation to the standard terms and conditions of the contract as well as any special conditions and terms. We can also advice if any special conditions need to be included or excluded for your benefit and protection.

Electronic conveyancing involves replacing manual, paper steps of conveyancing with digital documents and online settlements. E-conveyancing enables the clients to access their documents through their phone, electronic signing of contracts, fast online settlement and receiving payments quickly after settlement.

Process of E-Conveyancing:

We are now operating via the online platform known as PEXA – Property Exchange Australia. PEXA’s world-first digital settlements has revolutionised the way we exchange property in Australia. This is the latest technology in electronic conveyancing. PEXA is now saving everyone time and money. By providing quicker access to the proceeds of a sale and near real-time tracking on property settlements, the network of financial institutions, legal and conveyancing firms and government authorities help settle properties with out the need to attend a physical settlement. It enables instantaneous electronic lodgement of paper instruments with the Land Titles Office and notification of the change of ownership to rating authorities as well as funds transfer to the mortgagee bank, proceeds of sale to the vendor and payment of rates and land tax, all at once!

PEXA Key is a free app that helps buyers and sellers navigate through their property settlement with clarity more easily. Packed with tools and resources, including a settlement countdown, so you will never miss a beat. PEXA Key security provides extra protection against phishing and fraud for the clients.

PEXA Key will:

• Display settlement date and notifications
• Clients and practitioners can securely share account details
• Access to “What to Expect” articles
• Allow clients to plan their move with the “Moving Checklist”

In order to establish your entitlement to transact on PEXA, we are required to verify our client’s identity. The purpose of carrying out verification of identity (VOI) is to reduce the risk of identity fraud and the registration of fraudulent land transactions. A firm must take reasonable steps to identify a client themselves not relying on the verification from another firm. Once verification is completed, it is valid for 2 years. Alternatively, you can complete the verification process at your nearest Australia Post Office for a fee.

Client Authorisation Form is a prescribed form required to be used by subscribers to obtain the authority of their clients to complete conveyancing transaction using an Electronic Lodgement Network. Once we have confirmed your identity, you are required to sign a Client Authorisation Form. It authorises us as your representative to sign transfer documents on your behalf; submit or authorise submission of documents for lodgement with relevant Land Registry and authorise any financial settlement involved in the conveyancing transaction using the online platform known as PEXA.

A Section 32 Vendors Statement refers to the legal document provided by the seller to the potential buyer before a contract is signed. It contains all the information about the property that is required by law that the seller must disclose to the buyer. It must include all the information that may affect the state of the property, especially where such information may affect the decision of the buyer. The name of the document comes from the legislation governing Vendors Statement, Section 32 of the Sale of Land Act. The statement should not be confused with the Contract of Sale, which is a separate document.

The Day of Sale is the date when the Contract of Sale has been signed by both parties (Seller & Buyer).

According to Section 31 of the Sale of Land Act, a purchaser who signs a contract or contract note for the purchase of real estate can terminate the contract within 3 clear business days from the day the purchaser signed it. Purchaser is entitled to a refund of all the money you paid EXCEPT for $100 or 0.2% of the purchase price (whichever is more) if the purchaser ends the contract in this way. However, there are exceptions to Cooling-Off rights. The 3-day cooling-off period does NOT apply if;

• you bought the property at a publicly advertised auction or on the day on which the auction was held; or
• you bought the land within 3 clear business days before a publicly advertised auction was to be held; or
• you bought the land within 3 clear business days after a publicly advertised auction was held; or
• the property is used primarily for industrial or commercial purposes; or
• the property is more than 20 hectares in size and is used primarily for farming; or
• you and the vendor previously signed a contract for the sale of the same land in substantially the same terms; or
• you are an estate agent or a corporate body.

A Deposit Bond is a guarantee or bond that is used in substitute of a cash deposit. It can be used for all or part of the required deposit, up to a maximum of 10% of the purchase price. It is a guarantee to the Vendor (the person selling) provided by an Insurer and can be organised through a banking institution. At settlement you as the Purchaser are required to pay the full purchase price including the deposit amount. The use of a Deposit Bond does not remove your obligation to pay the full deposit upon settlement. If you default under the Contract of Sale and are required to pay the deposit, then the Vendor can claim the guaranteed amount from the Insurer. The Insurer will then pursue you (the Purchaser) to recover the money paid on your behalf.

The Section 27 Deposit Release procedure can allow a vendor to gain access to a deposit before settlement. However, the process is not as simple as it may at first appear. A Section 27 Deposit Release Statement, containing particulars of any mortgage and any caveat, can be prepared, and then served on the purchaser. If the purchaser provides a signed release the deposit may be released to the vendor. The purchaser will be deemed to be satisfied with the particulars provided if the purchaser does not object within 28 days.

A covenant is a contractual agreement, creating an obligation to the owner of the land that the covenant affects. It is passed over with the property when transferred. A covenant is used, in most cases, to preserve rights and regulate standards outside the range of easements (see below) and can either be positive or negative to the owner of the land. Covenants can include particulars such as the minimum floor size of a house, the materials used for building, or even the use of objects on the property such as business signs.

An easement is an interest in land that allows a person to have beneficial use of another’s land for a specific reason. It is therefore a restriction on the land over which the easement is held. Easements come in many forms and property related services, but some of the most common in residential areas are sewer and drainage easements, and the combined use of a single driveway for two adjoining properties. Some easements provide the right of passage for another over the other’s property. Some easements require maintenance, meaning that to ensure the easement still applies, it must be used; such with the right of passage. If that passage becomes unused, then that easement may be lost with time. The particulars of an easement will be stipulated in the Title to which the easement applies. Purchasers should also note that there may be unregistered easements such as sewers, drains, water pipes, gas pipes and underground and/or overhead cables.

Stamp Duty is a tax paid to the State Government upon the transferring of ownership in property. It is payable by the buyer of a property and the amount to be paid is determined by the purchase price of the property. Depending on whether you are buying a house to live in, or as an investment the amount of transfer duty payable will also differ. There are also currently concessions available to First Home Buyers, Health Care Card Holders or Pension Card Holders in Victoria.

Disbursements are the costs incurred by your conveyancer during the process of buying or selling your home. These costs are out of pocket costs above the legal fees that conveyancers charge. Disbursements cover a range of activities that are carried out during the conveyancing process including:

• Obtaining certificates from the government (e.g. title and plan searches) and other relevant authorities (e.g. council, water, state revenue office etc).
• Obtaining strata reports and Owners Corporation certificate where required

For a sale, these certificates are required for disclosure in Section 32 Vendors Statement. For a purchase, these certificates are required to complete adjustments at settlement.

At settlement, when ownership of lot changes, the purchaser becomes responsible for all rates and taxes for the property. Rate adjustments relate to the calculation of rates and taxes owing at settlement. All the rates and taxes on the property will be split between the Vendor and the purchaser proportionately as per the date of settlement. The seller is liable to pay all rates and taxes due on the property up to settlement and the purchaser is responsible to pay all rates and taxes after settlement.

Settlement is the final stage in the conveyancing transaction. It is facilitated by legal (conveyancer or solicitor) and financial representatives (banker/broker) for both the buyer and seller. In Victoria, the Settlement is now mandatory to occur in an online workspace (PEXA). PEXA enables Conveyancers, Lawyers, and financial institutions to transact together online.

Representatives for all parties will liaise to review and complete the required Settlement documentation within the PEXA workspace by the scheduled settlement date/time slot. When everyone at settlement is satisfied with the documentation, the signed documents are electronically submitted to the Land Title Office for registration. This is when the matter is declared “settled”.