If you want to buy or sell a home, land or investment property you’ll have to sign a contract. The legal work involved in preparing the sales contract, mortgage and other related documents, is called conveyancing. While you can do your own conveyancing, most people engage a licensed conveyancer or solicitor. This information explains what is involved with conveyancing.
Land and Property Information NSW is the main authority for NSW conveyancing laws. More information is available on the NSW Land and Property Information website.
Options for doing your conveyancing are:
Before you start organising your conveyancing, it’s important to do your homework first.
In NSW, conveyancers must be licensed with NSW Fair Trading. Most conveyancers hold an unrestricted licence to do the full scope of conveyancing work for residential, commercial and rural property. Conveyancers are licensed to do legal work such as preparing documents, giving legal advice on contracts and explaining the implications. Before you decide to use a particular conveyancer, check if they are licensed with us first.
Find a conveyancer in the Yellow Pages directory under ‘Conveyancing Services’ or contact a professional association under the heading 'Need more information?' below.
Licensed conveyancers must have professional indemnity insurance to protect you if they make a mistake or are negligent in their work. Also, if they are dishonest with the money you have entrusted to them, you may have access to the Compensation Fund administered by Fair Trading. For more information about the fund, go to the Property Services Compensation Fund page on the Fair Trading website.
|QUICK TIP – If you want to complain about a conveyancer, call Fair Trading on 13 32 20.|
While conveyancers and solicitors are equally qualified to do conveyancing, solicitors can also give you legal advice about other matters (such as on the contract for sale and contract terms). Solicitors, like licensed conveyancers, must also have professional indemnity insurance for your protection. To find a solicitor who does conveyancing:
To complain about a solicitor contact the NSW Legal Services Commissioner on 9377 1800 or 1800 242 958.
If you choose to do your own conveyancing, research what is required and the risks involved. Do-it-yourself (DIY) kits are available but generally provide guidance material only. You will still be personally liable if there is a problem with the sale even if you followed the instructions. You could encounter technical or legal issues not covered in the kit's material. You may also need expert advice from an experienced practitioner, such as on if certain terms in your sale contract are reasonable.
You may be held personally liable for any losses suffered by the vendor as a result of any error that you make. It may also be difficult for you to purchase the same level of insurance available to a licensed conveyancer or solicitor.
|CAUTION: If you do your own conveyancing, you take on all the responsibility for the sale progressing in a legal manner. Make sure you fully understand the sale process and relevant legislation.|
Conveyancing can involve these steps:
|IMPORTANT: Before the conveyancer or solicitor starts the work, ask for an itemised statement of the likely costs (to give you a better idea of the total).|
Fees will vary between solicitors and conveyancers as there is no official charge for conveyancing. As well as a legal service fee you will usually be charged for ‘disbursements’. These can include:
Conveyancing costs other than legal fees and disbursements may include:
Legal practitioners and conveyancers must disclose their costs to clients, including the client’s right to negotiate a costs agreement, receive bills and be advised of changes.
Australian Institute of Conveyancers NSW Division
Tel: 9633 1355
The Law Society of NSW
Tel: 9926 0333
The Office of the Legal Services Commissioner
Tel: 9377 1800 or 1800 242 958
Home Purchase Advisory Service
Tel: 1800 806 653
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