Processes
In most cases, Brisbane Conveyancing firms will start their processes once a contract to buy or sell a property has been signed. There are two major stages to the process of Conveyancing:
- The Buyer and Seller enter into a contract agreeing on a price and a settlement date. At this point the Buyer and Seller normally engage a Solicitor/ Conveyancing firm to ensure the necessary searches are performed on the property and the property is able to be transferred from the Seller to the Buyer free from encumbrance.
- Completion of the contract occurs on the settlement date and is the process of checking the legal documentation and paying the purchase price to the Seller. Once completion has occurred the Buyer is then able to register the property into their name. In Brisbane (Queensland), this is done at the Titles Office (Department of Resource and Environment Management). The Titles Office holds the Register of Land Title for all of Queensland and it is the responsibility of the purchaser (or their Brisbane Conveyancing firm) to ensure that the property title is transferred. Most commonly, Buyers need finance to assist with paying the purchase price and therefore financiers will take on the responsibility of title registration.
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