So what is conveyancing and why do you need it when buying or selling property?
Once you choose a property and secure financing, a conveyance lawyer can help you complete and remit the correct paperwork to make the purchase and transfer between two or more parties legal. Conveyancing is also used in legal matters regarding refinancing of your property.
An experienced conveyance lawyer can help with the following:
- contract reviews or negotiations
- options to purchase, rights of first refusal and encumbrances (covenants, rights of way, easements)
- residential conveyancing and mortgage/refinancing options
- draft and review purchase and sales documents
What is the conveyancing process?
Once we receive your signed contracts and conveyancing instructions from your lender, we perform our due diligence for you. We’ll check the property titles and ensure there are no outstanding mortgages, taxes, or liens on the property.
Then, we start on the transaction and sales documentation for both the seller and the buyer. This may include mortgage documents, Form A transfers, statements of adjustment, Property Transfer Tax documents, and GST certificates.
After all the paperwork is signed, we’ll facilitate and confirm the transfer for funds from the buyer to seller. To ensure the entire process is completed correctly, we perform due diligence again to ensure everything was transfers as per your wishes.
We also help sellers with a Form C (Discharge of Mortgage) paperwork and remit appropriate documents to the Land Title Office.
Who needs a real estate conveyance lawyer?
No matter how seemingly simple or complex the buying or selling of property seems, a lawyer is your best bet to ensure all the t’s are crossed and i’s dotted.
So if you’ve ever wondered “what is conveyancing,” now you know! If you have any questions about your real estate transactions, or plan to buy or sell property in the near future, contact the experienced conveyancing team at Dreyer Davison Lawyers so can help you get your paperwork in order!