A legal procedure called real estate conveyancing enables the transfer of property ownership from one party to another. It’s a lengthy procedure that requires numerous legal filings, investigations, and discussions. It’s important to understand real estate conveyancing and how a conveyancer can help you throughout the process if you’re going to buy or sell a property. We’ll go over all the fundamentals of real estate conveyancing in this post, including what a conveyancer does, how it works, and where you can locate a reputable conveyancer in your area.
What is Real Estate Conveyancing?
Real estate conveyancing is the legal process of transferring the ownership of property from one party to another. This process typically involves a lot of paperwork and negotiations, as well as searches to ensure that the property is free from any liens or encumbrances. The process of conveyancing can be quite complex, and it’s important to have an experienced conveyancer to guide you through the process.
The Role of a Conveyancer
A conveyancer is a licensed professional who specializes in real estate conveyancing. Their role is to help buyers and sellers navigate the legal complexities of the process and ensure that everything is done correctly and in compliance with the law. A conveyancer can provide a range of services, including:
- Reviewing contracts and legal documents
- Conducting searches to ensure the property is free from any liens or encumbrances
- Preparing legal documentation, such as transfer of ownership documents
- Handling negotiations with the other party’s conveyancer
- Attending the settlement to ensure everything goes smoothly
The Stages of Real Estate Conveyancing
The process of real estate conveyancing typically involves several stages. Here are the main stages you can expect to go through:
- Reviewing the executed agreement of purchase and sale
- A search of titles and reviewing the same
- Submitting requisitions on the title and reviewing responses thereto
- Searching for executions
- Correspondence with the title insurance company, and completing
- its required forms and documentation, and to report to the title insurer after closing
- Examining the draft deed
- Reviewing the statement of adjustments
- Preparation of an Affidavit pursuant to the Land Transfer Tax Act
- Telephone and written correspondence
- Meeting with you to sign all the necessary documents
- Closing the transaction and registering the Transfer/Deed of Land
- Acting for you as well as the lender with respect to placing a new first mortgage in favor of
- CIBC Mortgages Inc. securing the principal sum of $x
- Receiving and reviewing mortgage instructions
- Preparation of required documentation
- Correspondence with the mortgagee and providing any required draft documents prior to closing
- Receiving funds from the mortgage advance into our trust account
- Registering the mortgage and submitting a final report to the mortgagee
Finding a Real Estate Conveyancer Near You
If you’re looking for a real estate conveyancer near you, there are a few things you should keep in mind. First, look for a conveyancer who has experience in the type of property you’re buying or selling. Second, make sure they are licensed and accredited. Finally, consider their location and availability – you’ll want someone who is easy to reach and can attend to your needs in a timely manner.
At Philer, we offer professional real estate conveyancing services to clients across Canada. Our experienced conveyancers can guide you through the entire process, ensuring that everything is done correctly and in compliance with the law. Contact us today to learn more about how we can help you with your real estate conveyancing needs.
Real estate conveyancing can be a complex and time-consuming process, but it’s an essential part of buying or selling property. By understanding the basics of conveyancing and working with an experienced conveyancer, you can ensure that the process goes smoothly and that your legal rights are protected.