Real estate agent Geoff Grist has spent the past decade selling residential real estate on Sydney’s lower north shore and in his latest book, Journey to Sold, he shares practical tips to help you sell your property and hopefully achieve a great sale price.
In his book Grist walks readers through the entire sales process from selecting a real estate agent and presenting the property for sale through to negotiating any offers and putting up the “sold” sticker.
In Chapter Three titled “The Paperwork”, Grist explains why a conveyancer can be an important part of your property team, outlines what they do and how the conveyancing process works.
Here is an edited exclusive excerpt from that chapter, republished with permission:
What does a conveyancer do?
Along with your real estate agent, your conveyancer is responsible for your sale and how it finally comes together. The conveyancer you appoint works for you. It is their role to represent you throughout the sale, from creation of the contract of sale to the exchange of contracts, through to settlement of the title of the property.
What is the difference between a lawyer and a conveyancer?
The difference between a lawyer and a conveyancer from a real estate agent’s perspective is that a conveyancer specialises in the legal aspects of buying and selling a property (called conveyancing). They do not practise other areas of the law such as family law, corporations law or estate matters.
They are property law specialists.
How the conveyancing process works
Your conveyancer will be in contact with you to confirm details and they will prepare the legal documents that are required for the real estate transaction. This is essentially the contract of sale. Sellers will be asked to complete a “vendor’s statement” relevant to disclosure laws, and the conveyancer will conduct title and planning searches and attach any ancillary documents needed for the settlement process.
It can take several days to create a contract of sale, depending on waiting times for documentation. Importantly, your real estate agent cannot discuss your property with any potential buyer, or market or advertise the property in any manner, until they have received the contract of sale. This is the law. Agents are not permitted to “just show a few buyers through your home” without an agency sales agreement and a contract of sale: if they do, severe penalties can apply.
The contract of sale is a legally binding document prepared by the seller’s conveyancer to permit the sale and purchase of a property. A real estate agent can’t buy or sell property without one, so it’s important to make sure it is correct. On receipt of your contract of sale, your agent should check it for accuracy and completeness.
About Geoff Grist
Geoff Grist is a Sydney real estate agent with two decades of experience in the real estate industry. He is the author of several books including Journey to Sold published by Major Street Publishing (RRP $29.95).
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