Category Archives: Conveyancer

Conveyancer vs Solicitor: What’s the Difference?

When navigating the world of property transactions in Sydney, whether you’re buying or selling, one of the most crucial decisions you’ll face is choosing between a conveyancer or solicitor. Both professionals play significant roles in the legal aspects of property transactions, but there are key differences in their services, qualifications, and responsibilities. Understanding these distinctions is essential, especially when seeking reliable conveyancing services in Sydney.

In this blog, we’ll explore the differences between conveyancers and solicitors to help you make an informed decision.

What is a Conveyancer?

A conveyancer is a licensed professional who specialises in property law and is trained to handle the legal process of transferring ownership of real estate from one person to another. They focus primarily on conveyancing transactions, which include the preparation of legal documents, conducting searches, and managing settlements.
Conveyancers often work on straightforward property transactions, such as residential property sales and purchases. They are highly skilled in handling the legalities involved but have a more limited scope compared to solicitors.

What is a Solicitor?

A solicitor, on the other hand, is a fully qualified lawyer who can offer legal services in various areas of law, including property law. While conveyancers specialise only in property-related transactions, solicitors can provide legal advice on broader issues, such as estate planning, litigation, or contract disputes.
Solicitors tend to handle more complex transactions, particularly when there are legal issues that extend beyond property law. For example, if the property deal involves complications like disputes, encumbrances, or financial issues, a solicitor’s legal expertise may be necessary.

Key Differences Between Conveyancers and Solicitors

1. Scope of Services

The primary difference between a conveyancer and a solicitor lies in the scope of services they offer. Conveyancers focus solely on property law and conveyancing processes. They are well-equipped to handle standard property transactions, such as residential sales or purchases.
Solicitors, in contrast, provide a wider range of legal services. In addition to conveyancing, they can advise on areas such as wills, trusts, and disputes, making them a versatile option for complex legal situations. If you require conveyancing services in Sydney but anticipate complications that go beyond property law, a solicitor might be the best choice.

2. Qualifications and Training

Conveyancers undergo specific training and are licensed to practice conveyancing. They complete courses focused on property law, and once licensed, they are authorised to handle property transactions independently. While they are experts in their field, their qualifications are limited to conveyancing.
Solicitors, however, must complete a law degree and undergo further professional training to become fully qualified lawyers. Their qualifications allow them to practise in a wide range of legal areas, including but not limited to conveyancing. As a result, solicitors have a deeper and broader understanding of the law.

3. Cost

Cost is another factor where conveyancers and solicitors differ. Conveyancers usually charge lower fees than solicitors because their services are limited to conveyancing tasks. For a simple property transaction, hiring a conveyancer may be more cost-effective.
However, if the transaction becomes complicated, hiring a solicitor can save you time and effort in the long run. Solicitors tend to charge higher fees due to their broader legal expertise and the additional legal services they provide.

4. Legal Advice Beyond Conveyancing

One key benefit of hiring a solicitor is the ability to receive legal advice on issues that extend beyond the property transaction. If any legal disputes or complexities arise during the sale or purchase of the property, a solicitor can provide comprehensive legal counsel.
Conveyancers are not qualified to offer advice on non-conveyancing matters. If the transaction becomes legally complex, you may need to engage a solicitor in addition to your conveyancer, which could lead to higher overall costs.

5. Handling Complex Transactions

For straightforward property deals, a conveyancer is typically sufficient. However, if the transaction involves legal disputes, business dealings, or complicated financial arrangements, a solicitor is better equipped to manage such complexities.
For example, if you’re purchasing a commercial property or a property with outstanding legal issues, a solicitor can address all the associated legal aspects, ensuring a smoother process.

Which One Should You Choose?

When deciding between a conveyancer and a solicitor, consider the complexity of your transaction and the level of legal advice you may need. For simple property transactions like residential sales, a conveyancer will often be more than adequate and offer cost savings.
However, if your transaction is more complex or involves potential legal disputes, hiring a solicitor may provide you with peace of mind. Their broad legal knowledge and ability to offer legal advice beyond conveyancing will be invaluable.
Whether you opt for a conveyancer or solicitor, make sure they are licensed and experienced. For reliable conveyancing services in Sydney, it’s crucial to choose a professional who understands your needs and can guide you through the process efficiently.

FAQs

1. Can a conveyancer provide legal advice?

A conveyancer can offer advice related to property transactions but cannot provide legal advice on matters outside of conveyancing. For broader legal advice, you’ll need a solicitor.

2. Do I need a solicitor for all property transactions?

No, you don’t necessarily need a solicitor for every transaction. For simple residential transactions, a conveyancer is sufficient. However, for complex transactions, a solicitor’s services may be required.

3. Are conveyancers cheaper than solicitors?

Yes, conveyancers generally charge lower fees than solicitors. If your transaction is straightforward, opting for a conveyancer can save you money.

4. Can a conveyancer handle disputes during a property transaction?

A conveyancer can manage the legal process of the transaction, but they may not be able to provide advice or representation in disputes. A solicitor is better suited for legal disputes.

5. What’s the difference in qualifications between a conveyancer and a solicitor?

Conveyancers are trained and licensed specifically for property transactions, while solicitors are fully qualified lawyers who can practise in multiple areas of law, including property law.

6. Should I choose a conveyancer or solicitor for my Sydney property transaction?

It depends on the complexity of your transaction. For straightforward property deals, a conveyancer may suffice. For more complex transactions, or if legal issues are anticipated, a solicitor may be a better option.

Conclusion

Choosing between a conveyancer and a solicitor largely depends on the complexity of your property transaction and your legal needs. Conveyancers are ideal for straightforward transactions, offering cost-effective and efficient service. Solicitors, however, provide a more comprehensive range of legal services, which can be invaluable in complex situations. Regardless of your choice, finding experienced conveyancing services in Sydney is essential to ensuring your property transaction goes smoothly. Call us at (02) 8084 2764 or fill out the online form to get in touch with our best Family Lawyers.

Role of Conveyancer in Property Purchasing/Selling

Are you buying yourself a house for the first time, or are considering long-term investment? Perhaps you are purchasing a property for your business venture or commercial service. If any of the above, it’s important you ensure you have essential knowledge on the process and concept of conveyancing.

Conveyancing is the transferring of ownership of property from one individual to another. A Conveyancer’s role in this process is to conduct title searches, acquire title deeds, drafting and exchanging relevant contracts, and essentially assist with handling the legal procedures involved with buying or selling a property. Conveyancers help to seal the deal where you are left feeling satisfied with the end result, and have a clear understanding of the conditions of your purchase or sale.

Platinum Lawyers Conveyancing in Sydney are done by a qualified team of Lawyers and solicitors who are available to help you with the legal aspects of your property. We consistently work towards building a strong rapport with all our clients. Conveyancing is made simple when you choose our reliable service – at low costs and fixed fees.

By having a qualified professional Conveyancer from Platinum Lawyers, you have access to the information you need for engaging in acquiring a property, including the stages before and after this process. Our Conveyancing Sydney services provides pre-purchase advice services for the stage before committing to buying a property. This in itself is a huge undertaking, and by understanding this, we make ourselves readily available for assistance with this process to protect you and your assets.

Our conveyancers at Conveyancing Sydney will work with you on a range of steps involved in the conveyancing process. Here’s a basic breakdown of the common set of steps involved in conveyancing:

Title Searches
Title searches are conducted as a protection method for both the buyer and seller of the property. This is to ensure that there are no associated legal obstacles involved with the property in question. After these obstacles have been evaluated is when it may be fine to proceed with the conveyancing process.

Preparing Documents
Many documents must be prepared, signed and stored during the conveyancing process. Some examples of such documents include requisition documents, mortgage and lease documents and transfer documents. The benefit of having a conveyancer is that they will know exactly when and where this paperwork is required.

Contracts
Contracts can be a challenging block in the road when an individual attempts the conveyancing process by himself or herself. Our conveyancers have exceptional knowledge on what to look for in initial contracts and agreements for property purchase and selling. Our conveyancers assist you with initial contract signing that is made as an offer, which is given to the seller for their consideration.
Contracts detail the name of your property, the names of the buyer and seller, pricing, deposits, owed balances and any special conditions that can take place.

Cooling Off Period
After the contracts have been signed and exchanged, a cooling-off period is implemented, which lasts 5 days. During this time, the buyer has the flexibility to withdraw from the contract that they have committed to, without facing significant consequences. Our Conveyancers are available to answer queries regarding this timeframe and address concerns regarding your property contract.

Settlement
Settlement can be considered the end of the conveyancing process. The property and title deed are released to the new owner. Payments are also processed. Our process involves our conveyancing solicitor officially storing the deeds on behalf of the owner and buyer. The deal is sealed and the conveyancing process ends. Your file is stored by us for up to 7 years.

Bearing in mind the length of the process, when it comes to conveyancing, it’s vital to have good communication channels between the conveyancer and the buyer (or seller). Platinum Lawyers is made up of readily available solicitors, who will respond to any of your urgent queries or requests as you will need them.

Platinum Lawyers offers experienced conveyancers, expert advice and competitive costs within the legal market. When it comes to quoting costs, we aim to provide conveyancing as a fixed cost. Our fees include all the necessary steps taken to complete the conveyancing process; from the start until the very end. This also covers disbursements, such as the council certificate, water certificate, land tax search and the final title search. Our focus lies in simplifying your purchase or sale of property, so we follow the same method with our pricing and options.

If you would like further information on our conveyancing services, feel free to get in touch with our team at (02) 8084 2764.  initial consultation is without obligations and free of charge.

How To Choose A Conveyancer?

When buying or selling a property it’s essential that you use a conveyancer. You don’t legally need one, but  can decipher the legal jargon making it a smoother process for everyone involved. With a number of conveyancer services available in Sydney it’s hard to know which one to choose. Platinum Lawyers have a team experienced in conveyancing to provide you with a great service taking the hard work out of buying and selling. Here’s how to choose a conveyancer.

Research Your Options

 Ask your family and friends who they have used when buying and selling property and the experience that they had. Recommendations are always a good place to start. Choose a couple of conveyancers in Sydney and explain your requirements and see which one you would feel comfortable using. Where property is involved a large sum of money is exchanging hands and you want to make sure you get it right. Find a trustworthy and experienced conveyancer in Sydney that can give you accurate legal advice.

Understand Their Role

 Explain your circumstances and relay your requirements to the Conveyancer in Sydney. We will be able to simplify legal terms so that you can understand the process. Advise the conveyancer if there is anything that could hold up the transaction or affect it in any way. Remember they are there to make things easier so it’s best that you are upfront with any information you have. Some issues may include financial limits, time parameters or anything other reason. Any confusion may hinder the deal so be open and honest with your conveyancer.

Offer a Fixed Rate

 A good conveyancer in Sydney will charge a fixed rate. This gives you a clear idea of price with no surprises. Be wary of a conveyancer that wants to charge hourly as it’s hard to determine where those hours go. This may lead to you paying more than is necessary. When purchasing a house you want to account for every dollar and any surprise fees could blow out the budget. Use professional conveyancers in Sydney that charge an agreed upon amount. This price generally includes their basic and disbursement fees.

Check They Are a Member of the Australian Institute of Conveyancers (AIC)

 When looking for a conveyancer in Sydney verify that they are a member of the AIC. This ensures they have access to all the latest information so that they can best advise you. They are regularly assessed which is reassuring when choosing someone to assist with a major transaction such as purchasing or selling a property. There are several conveyancers in Sydney so question if they are a member of this body to get the most up to date and reliable information.

Why Choose Platinum Lawyers: Frequently Asked Questions (FAQ) with Answers

1. Why is it essential to use a conveyancer when buying or selling property?
   • While not legally required, a conveyancer can decipher legal jargon and streamline the process, ensuring a smoother transaction for all parties involved.
2. What makes Platinum Lawyers stand out among other conveyancer services in Sydney?
   • Platinum Lawyers boasts an experienced team specializing in conveyancing, dedicated to providing exceptional service and simplifying the buying and selling process.
3. How can I research my options when choosing a conveyancer in Sydney?
   • Begin by seeking recommendations from family and friends and researching online reviews. Choose a conveyancer who meets your requirements and offers trustworthy and experienced service.
4. What role does communication play in selecting the right conveyancer?
   • Effective communication with your conveyancer is crucial. At Platinum Lawyers, we simplify legal terms and encourage open dialogue to ensure a clear understanding of the process.
5. Why is it important to opt for a conveyancer who charges a fixed rate?
   • Choosing a conveyancer with fixed-rate pricing provides transparency and eliminates the risk of unexpected fees, ensuring you can budget effectively for your property transaction.
6. What should I consider when assessing a conveyancer’s credibility?
   • Verify that the conveyancer is a member of reputable organizations such as the Australian Institute of Conveyancers (AIC) to ensure access to the latest information and adherence to professional standards.
7. How does being a member of the AIC benefit Platinum Lawyers’ clients?
   • As an AIC member, Platinum Lawyers undergoes regular assessments and adheres to strict professional standards, providing clients with reliable and up-to-date information and service.
8. Can Platinum Lawyers assist with both Buying and Selling Property Transactions?
   • Yes, Platinum Lawyers offers comprehensive conveyancing services for both buying and selling property, ensuring a seamless experience for clients.
9. What sets Platinum Lawyers apart in terms of client service?
   • At Platinum Lawyers, we prioritize client satisfaction, offering personalized attention, clear communication, and efficient handling of all legal aspects to ensure a smooth and stress-free transaction.
10. How can I ensure a successful property transaction with Platinum Lawyers?
    • By choosing Platinum Lawyers for your conveyancing needs, you can expect professional expertise, transparent pricing, and dedicated support throughout the process, leading to a successful outcome.
11. What makes Platinum Lawyers a trusted choice for conveyancing in Sydney?
    • With a reputation for reliability, integrity, and professionalism, Platinum Lawyers has earned the trust of clients seeking expert conveyancing services in Sydney.
12. How can I get started with Platinum Lawyers for my conveyancing needs?
    • To benefit from Platinum Lawyers’ exceptional conveyancing services, simply reach out to us through our website or contact us directly to discuss your requirements and schedule a consultation.

Choosing a conveyancer in Sydney is an important decision as you are using them to assist with a significant transaction. You can research your options and understand what they are capable of doing for you. Choose a conveyancer in Sydney that can offer you a fixed rate and determine whether or not they are a member of AIC. For reputable conveyancers in Sydney get in touch with Platinum Lawyers.

Did you know that a statutory trust account is often needed to ensure everything goes smoothly in the days leading up to settlement? No. Most clients don’t do this, but it can be the difference between getting paid on time or waiting.

A statutory trust account is held by a third party where other people’s money is kept. The person who owns the cash tells how the money in the report is used.

Why Should You Always Use A Conveyancer Who Maintains A Statutory Trust Account?

When we tell clients about our Statutory Trust Account, they first want to know, “Is my money safe?” On many levels, the answer is YES!

First, lawyers are meticulous about using their statutory trust accounts. We know that it’s a privilege to handle a trust account and that it’s easy to lose that privilege. To do this, all firms must set up processes and procedures for running their trust accounts. The statutory trust account is also checked twice a year to ensure it is used correctly.

Second, the Fidelity Fund covers up to $2 million of the money put into our firm’s Statutory Trust Account. This is a fund that was set up to cover deposited funds if a practitioner committed fraud. This means that if your money is taken fraudulently from the Trust Account, the practitioner who did it would face civil and criminal penalties, including losing their lawyer licence. The fidelity fund would protect you by replacing the stolen money. Altogether, you are safe.

What Do Trust Accounts Do In Real Estate Settlements?

Buying a house is one of the few times you need a lot of money in one place simultaneously. However, due to the restrictions banks put in place to prevent fraud, it can be hard to combine these funds and make them available, even with the advances in internet banking. 

Working with a conveyancer or lawyer with a trust account means that, as a client, you have a central place to put your money so that your lawyer can write checks on your behalf on the day of settlement. Yes! 

I know that sounds late, but we have to wait for the other side of the transaction to tell us how to fill out the check. This means it’s not unusual for money to be asked for at the last minute.

When It Is Imperative

Clients who bank with a small bank deserve special attention. When choosing a Conveyancer or Property Lawyer, it is essential to consider how important it is to work with an advisor with the available facility. Even though many of the bigger banks offer offset accounts, it is rare for the smaller banks to do so. This can make it hard for you to settle on time.

Important Point To Remember

Buying a house is a stressful process; if you haven’t done it before, it’s easy to miss some important parts. It can be frustrating to get a low price upfront that doesn’t meet your needs. In the same way, the costs of waiting too long to settle (in the form of penalty interest) are very high. 

When buying conveyancing services, we advise our clients to figure out which services they need and which they don’t. They should also understand the importance of critical parts of the process, such as the searches, the trust account, professional indemnity insurance, and advocacy, so they can make an informed choice. We are proud that we were the best conveyancers in Australia at the time.

Frequently Asked Questions about How Platinum Lawyers Can Help:

1. Why Should You Always Use A Conveyancer With A Statutory Trust Account?

1. • Your money is safe with Platinum Lawyers as we meticulously handle our Statutory Trust Account, ensuring its correct usage through established processes and procedures. Additionally, the Fidelity Fund covers up to $2 million, protecting your funds in case of fraud.
2. What Role Do Trust Accounts Play In Real Estate Settlements?
   • Trust accounts provide a secure central place for your funds during real estate settlements, ensuring your lawyer can efficiently handle financial transactions, such as writing checks on your behalf on the day of settlement.
3. When Is It Imperative To Work With A Conveyancer With A Trust Account?

1. 1. It is crucial, especially for clients with small banks, to work with a conveyancer or property lawyer equipped with a trust account. Smaller banks often lack offset accounts, making it challenging to settle on time.

     4. Why Is It Important To Remember The Stress Of Buying A House?

• • Purchasing a home is a stressful process. Platinum Lawyers advises clients to understand essential components of the process, such as searches, trust accounts, professional indemnity insurance, and advocacy, to make informed choices.

     5. How Does Platinum Lawyers Ensure Client Safety Regarding Trust Accounts?

• • Our Statutory Trust Account undergoes biannual checks to guarantee its correct usage. Additionally, the Fidelity Fund covers up to $2 million, providing added protection against fraudulent activities.

     6. What Sets Platinum Lawyers Apart In Real Estate Settlements?

• • Platinum Lawyers stand out by offering a secure trust account, facilitating smoother real estate settlements, and ensuring clients have a central place to consolidate their funds.

    7. Why Do Clients Deserve Special Attention When Banking With Small Institutions?

• • Clients with smaller banks receive special attention, emphasizing the importance of working with a conveyancer with the necessary facilities to overcome potential challenges.

   8. How Does Platinum Lawyers Handle Last-Minute Financial Aspects Of Property Transactions?

• • Our trust account allows for efficient handling of last-minute financial aspects, ensuring checks can be written on behalf of clients even when details are provided late in the transaction.

   9. What Advice Does Platinum Lawyers Offer During The Conveyancing Process?

• • We advise clients to assess their needs, understand crucial elements of the process, and make informed choices regarding searches, trust accounts, professional indemnity insurance, and advocacy.

 10. What Makes Platinum Lawyers Proud In The Field Of Conveyancing Services?

• • We take pride in being recognized as the best conveyancers in Australia, a testament to our commitment to excellence and client satisfaction.

11. Why Is It Important To Initiate The Process Immediately?

• • Initiating the process promptly is crucial to ensure a timely and smooth real estate transaction. Call Platinum Lawyers immediately at (02) 8084 2764 to start the process.

12. How Does Platinum Lawyers Handle Penalty Interest Costs?

• • Platinum Lawyers emphasizes the high costs associated with waiting too long to settle, especially in the form of penalty interest, underscoring the importance of timely and informed decision-making during property transactions.

Call Platinum Lawyers immediately to start the process – (02) 8084 2764