What is conveyancing? A plain-English guide for buyers and sellers

Conveyancing is the legal process of transferring the ownership of property from one person to another. It starts before the contract is signed and ends when the title is registered in the buyer's name and the money has changed hands. A conveyancer or property lawyer does it for you.

Conveyancing when you are buying

• reviewing the contract, and in Victoria the section 32 or in Queensland the seller disclosure statement, before you sign
• advising on the cooling-off period, special conditions and the deposit
• ordering title, planning, rates, water, land tax and strata or body corporate searches, and raising requisitions
• working with your lender so the loan is ready for settlement
• calculating stamp duty and lodging any concession
• preparing the adjustments so that you only pay rates and levies from settlement
• settling on PEXA and lodging the transfer with the land registry
• notifying the council, water authority and owners corporation afterwards

Conveyancing when you are selling

• preparing the contract of sale and, in Victoria, the section 32, or in Queensland the disclosure statement, with the certificates each state requires
• answering the buyer's requisitions and negotiating any changes to special conditions
• arranging the discharge of your mortgage
• preparing the settlement statement and agreeing adjustments with the buyer's side
• settling on PEXA and directing the proceeds to you

Who is allowed to do it

In NSW and Victoria, a licensed conveyancer or a solicitor. In Queensland, a solicitor or a firm supervised by one. You can legally act for yourself in all three states, but with a lender involved it is effectively impossible, in NSW paper lodgement is allowed only when neither side is represented and there is no mortgage, you carry no professional indemnity insurance, and a mistake on the title is yours to fix.

How long it takes

From exchange to settlement is usually 42 days in NSW, 30 to 90 days in Victoria and 30 days in Queensland, set by the contract. A contract review takes one to two business days. A property transfer between family members, with no sale, can be done in a couple of weeks depending on the lender.

What it costs

Two parts: a professional fee for the legal work and disbursements passed on at cost. At Settle Easy the professional fee for a standard residential purchase or sale is fixed, from $1,550 in Victoria and $1,750 in NSW and Queensland plus GST, with disbursements of several hundred dollars depending on the state and the property. Stamp duty is separate. See the fee pages for each state.

Online conveyancing

Conveyancing no longer needs an office visit. Contracts are exchanged electronically, identity is verified online, searches are ordered online and settlement happens on PEXA. Settle Easy runs every matter online with a named lawyer or conveyancer as your point of contact, in NSW, Victoria and Queensland.