Conveyancing – Risks and potential complications

Conveyancing – Risks and potential complications

A conveyance involves the transfer of property from one owner to another.

A solicitor with expertise in conveyancing will ensure that a sale or purchase of a property does not spiral out of control.

The following issues can hinder the progression of a conveyancing matter: –

Delayed settlement

This predicament can be caused by the following factors: –

• Bank issues, i.e., problems with discharging mortgage. If important documents like the Certificate of Title have not yet been provided to the correct banking department, or there are some errors in other documentation.
• Purchaser issues such difficulty obtaining finance and disputes arising from faults in the property identified after exchange.

Engaging a solicitor prior to the purchase or sale of land means that delays can be mitigated. If the settlement does not occur on the stipulated settlement date, for reason of the purchaser’s delay, the vendor’s solicitor can serve a notice to complete. A notice to complete allows 14 days from the date of service of the notice for the purchaser to complete. If the purchaser does not effect completion within 14 days, the vendor my validly rescind the contract and retain the deposit paid by the purchaser.

Defects 

It is incredibly difficult to renege on a signed contract. As such, it is imperative that you are certain of a purchase or sale before you begin your conveyancing journey.

We provide:

• review of contract services for prospective purchasers; and
• generate contracts for vendors.

Disagreement between parties

A solicitor will act on your behalf in any and all negotiations with the other party. They will ensure that any potential conflict has minimal impact on your conveyancing matter. Solicitors engage in clear, direct correspondence with the other party to clarify that all clauses in the contract are unambiguous and in the best interests of you, the client.