If you’re about to buy, sell, or refinance your property, you need a conveyancing expert to handle the process. In this article, we outline what a conveyancer lawyer is, their role in a property transaction, and when to hire one.
What is conveyancing?
Conveyancing is the legal process of transferring ownership of a property from one person to another or securing a mortgage against a property. Common conveyancing services may include but are not limited to the following:
- Property title checks
- Apply for grants if eligible
- Prepare or review the sale and purchase agreement
- Anti-money laundering checks
- LIM report reviews
- Settlement fund transfers
- Working with banks and brokers for lending
- Working with local and regional councils for rates
What is a conveyancing Lawyer?
A conveyancer, property purchase solicitor, or property lawyer is responsible for completing all legal requirements during a property transaction. Their role is to make sure everything happens at the right time and that everyone involved receives the appropriate communications.
In New Zealand, you can seek a conveyancing expert through your lawyer, a private conveyancer, or an online conveyancing service.
The role of your conveyancing lawyer
Whether you are buying or selling a property, it’s crucial to have the right support and expertise throughout. Your conveyancer will take care of the complex legal and contractual matters associated with your property transaction. In hiring a qualified expert, you can rest assured everything is done correctly and legally.
Processing legal documents
One of the primary services your conveyancer will provide is to complete all the required paperwork during your property transaction. This may include writing up the documents, reviewing reports, clarifying information, and ensuring each document is signed by the right people at the right times. Examples of paperwork include but are not limited to the following:
Sales and purchase agreements
Before signing, we recommend your conveyancing lawyer reviews the Sale and Purchase Agreement to ensure that the conditions are agreeable, realistic and understood by you. This identifies any potential issues before the transaction goes unconditional. Your conveyancer will also negotiate on your behalf and liaise with the other lawyers.
Anti-money laundering
Your conveyancing lawyer is legally required to perform Customer Due Diligence (CDD) checks and report any suspicious activity. Under the Anti Money Laundering and Countering Financing of Terrorism Act 2009, they must verify the identities of everyone involved in the transaction and review all finance details required for purchase.
LIM Reports
Your conveyancer will help you request a Land Information Memorandum (LIM) report from your council. They will also review the report and notify you of any issues that may affect the property value, such as outstanding rates, building consents, or resource consents. If concerns are raised, they will help you negotiate with the seller.
Property titles
Your conveyancer will check the property title to identify exactly what is included in the transaction. This will highlight any easements, covenants, rights of way or other relevant records, as outlined in the Certificate of Title.
Grant applications
If you are using the KiwiSaver HomeStart Grant to buy a property, your conveyancer will explain the eligibility criteria and guide you through the necessary forms. They will also coordinate with your KiwiSaver provider to ensure the funds are transferred at the appropriate time.
Communication and networking
Your conveyancing lawyer will also handle the entire transaction process, ensuring all the key people have the information they need. For example, they will work with banks and brokers for lending and with local and regional councils for rates. By hiring the right conveyancing expert, your experience will be seamless and straightforward.
Settlement
When the time comes to transfer funds from the buyer to the seller, the conveyancing lawyer will complete the necessary paperwork and confirm with the banks that the money has been transferred.
On settlement day, your conveyancing lawyer will complete the title transfer and advise the agent or vendor that the house keys can be released to the new owner. As soon as the buyer has the keys, the transaction is complete.
Online conveyancing NZ
Did you know the entire conveyancing process can be completed by Halliwells law firm while you’re in the comfort of your own home? Our online portal allows you to get all the support you need without having to leave your home to attend meetings or appointments.
Benefits of online conveyancing
- Expertise and experience
- Legal representation
- Cost-effective
- Convenient
Online conveyancing services are typically more accessible and user-friendly, with clear and transparent pricing structures. With lower overhead costs and efficient processing times, they also offer competitive prices.
Halliwells combines 127 years of expertise, support, and legacy in residential conveyancing with the convenience and cost savings offered by our increasingly popular online services. Experience it for yourself by requesting a free, no-obligation conveyancing quote today.
