Conveyancing is the transfer of ownership of any property or estate from any person/s or company (as the case may be) to another.
Conveyancing not only applies to those people who are selling or purchasing properties, but can also be the result of a gift or a devise by Will of a deceased estate. The role of SDA Conveyancing is to ensure that a clear Electronic OR Paper Title is conveyed in a simple yet effective and complete matter.
The world of Electronic Conveyancing
For over a decade, the idea of replacing the previous practice of handling bank cheques and legal documents at settlement with an electronic system has been an aspirational dream. However, after the commitment of many hours of work and resources by Governments, Conveyancers, Solicitors, Banks and Private Investors, PEXA (Property Exchange Australia) has arrived.
Settlement in PEXA is similar to the way settlements occur in the Stock Exchange. It means a safer, quicker and more efficient method of electronically settling a transaction, transferring funds and registering documents.
This firm will always be responsible for the legal work required to be undertaken to ultimately achieve a satisfactory settlement on your behalf. Whilst certain aspects of the electronic part of the conveyance may be undertaken by our office, this firm has chosen to use the services of a specialized electronic settlement agency to complete the work associated with the final settlement processes.
We also believe that it is ultimately a more efficient way to complete settlement (similar to when matters were settled in the original paper based format and a settlement agent was appointed).
With the Government mandated deadline of August 2019 to move all property transactions online (with the majority having already moved online from October 2018), part of the requirement for matters being conducted in the electronic format is for the execution of a Client Authorisation Form allowing your legal representative and settlement representative to transact and act on your behalf in the electronic platform in accordance with government requirements.
Part of the purpose of the Government’s requirement for the introduction of electronic settlement, was an attempt to regulate and ensure that fraud is minimized. This is being achieved by the introduction of a Verification of Identity (VOI) requirement for all sellers and buyers of property.
If you have any queries in relation to this aspect of the transaction, please contact our office.
A Contract of Sale is the formal document prepared by any vendor of property and sets out all the terms and conditions of the Sale. including Vendor details, Purchaser details, property details, sale price, settlement date, contract conditions.
A Section 32 Vendor's Statement is the form of document prepared by any vendor which discloses all relevant and government legislated information required to be disclosed to any Purchaser of property. It details information such as Property Title details, confirmation of vendor/s ability to deal with the land, any and all registered covenants and easements, planning schemes and zoning, building information, rates/water/owners corporation etc and so much more.
The importance of this document cannot be underestimated The information contained in this document is VITAL to both vendor and purchaser alike. It may impact on a vendor's ability to successfully transact a sale of their property OR a purchaser's proposed future use and enjoyment of the property they have just purchased....
Tel: + (61) 03 9455 2011
Mobile: + (61) 0417 146 356
Web: www.sdaconveyancing.net.au and
Mailing Address: P O Box 312, Heidelberg, Vic, 3084
Appointments: By Arrangement Only
Firm: SDA Conveyancing - licence No. 000778L
Director: Sue D'Alessandro - Licensed Conveyancer No. 000777L
Copyright © 2019 SDA Conveyancing - All Rights Reserved.