Conveyancing (conveyance) is the term for the process where a seller transfers this immovable property to buyer. In this both are registered and ensure that ownership is transferred by seller title name.
Conveyancing in Sydney can only do by enact conveyancing sydney license conveyancers, and a licensed conveyancer i.e. a lawyer who crack the national conveyancing examination.
While selling and buying real estate, the work of seller and buyer is:
When buyer and seller make agreement for sale, the duty of seller to appoint conveyancer because the buyer will pay the fees and information sent to conveyancer by their estate agent of real estate which was sold, including documents like id proof copy of both seller and buyer, agreement copy of sale, old owner ship deed copy, passport size photographs.
Then, we complete the document behalf of seller and buyer regarding to their real estate property and send you by mail. For
• An ownership to transfer – It must be signed by the seller, which allows transferring the ownership of his immovable property on behalf of buyers.
• Declaration of identity – Seller as well as buyer must sign on the affidavit in which there is conformation of original and real id proof those are submitted with documents of ownership.
• Stamp duty and value added VAT (tax) declaration -Purchase price done by valuation agent and they must sign on it if both the party will be agreeing on that cost. On that calculation of transfer duty will be done, and will paid by vendor. If the seller is not VAT-registered, transfer duty will be payable, and if registered in VAT, it will not payable.
• Mortgage certificate – If you’re required mortgage, not capable in paying complete cash, the banks will require your identity document. It will be applicable because we completed the documents for that also, how much you required you have to tell us, if you required.
Know conveyancer’s duty will be:
• Told to seller to pay VAT (tax), utility bills (water, gas, electricity) or levies if it is due.
Because it can be obstacle in mortgage is any one is due. And provide clearance certificate for last 3 months.
• Contact to mortgage holder and apply for mortgage and after completing mortgage formality obtain money which will be required by the buyer to purchase property.
• In last mail the documents for sign of guarantor it’s in law by government.
And then the money will be exchange by the documents between buyer and seller. The receiver will issue a receipt of transfer duty by revenue. And new deed will be register at registrar office where it will be register according to their time. When it will be register we send you the conformation mail.
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