Residential Conveyancing
Residential conveyancing involves the transfer of ownership of a property from one person to another. This process involves legal and administrative tasks, and it is important to have the assistance of a Licensed Settlement Agent who is knowledgeable about the laws and regulations.
Here are some steps involved in residential conveyancing:
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Contract of Sale: The first step in residential conveyancing is the preparation and signing of the Contract of Sale. This document outlines the terms and conditions of the sale, including the price, settlement date, and any special conditions.
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Title Search: A title search is conducted to ensure that the seller has legal ownership of the property and that there are no outstanding debts or encumbrances.
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Property Inspection: A property inspection is usually carried out to ensure that the property is in good condition and free from any defects that may affect its value.
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Finance Approval: If the buyer requires finance to purchase the property, they must obtain finance approval from a lender.
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Settlement: Settlement involves the exchange of funds and legal documents between the parties involved. The buyer pays the purchase price to the seller, and the seller transfers the ownership of the property to the buyer.
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Registration: After settlement, the transfer of ownership is registered with the Land Titles Office, and the buyer becomes the legal owner of the property.
It is recommended to engage the services of a Licensed Settlement Agent to ensure that the process of residential conveyancing in Perth is carried out smoothly and efficiently. They can also provide advice and guidance throughout the process, including drafting and reviewing legal documents, conducting searches, and facilitating settlement.