How conveyancing works

This simple table explains the steps for conveyancing and how it works.
Horrocks Solicitors You
Receipt of Contract We obtain Title Search and a Registered Plan Search
We contact the seller’s solicitor and notify them that we are acting for you
Take out building and public liability insurance to product your property
Before the due date, you execute any building, pest or other inspections that you included in the contract and notify us of the results
Arrange unconditional finance prior to due date and notify us of:
– who is financing
– which branch
– contact details
– tell us if you are refinancing another property
– loan details and your contribution
Going Unconditional If inspections were favourable, we notify the seller’s solicitor that the conditions were met
Notify agent that the contract has gone unconditional
If all the conditions have been met, the contract goes unconditional
You liase with financier to ensure that the mortgage documents are signed by you and delivered back to them as soon as possible.
Approaching Settlement We obtain and check the rest of the searches required
If your financier requires additional searches, we notify you of the cost and then obtain the searches for them
Work with financier toward correct provision of funds for settlement to occur
Prepare settlement figures with relevant parties
If are going to be living in the home or unit….ensure that you signed and have witnessed Form 2.1 (Stamp Duty) Declaration) for the Office of State Revenue ASAP)
Arrange settlement time and location with your financier and seller’s solicitor
Advise financier of cheque details for settlement
Receive correspondence from us and if required, complete and sign Information Statement and Form 2.1 (Stamp Duty Declaration) and return it to us immediately
Work with your financier to ensure they are ready for settlement ,have no outstanding issues and documents correctly signed and received by them
Forward balance of settlement monies to be paid to seller, stamp duty and fees by way of bank cheques as directed by us.
Before Settlement Advise you of the cheque details required at settlement If required, you arrange bank cheques for settlement, stamp duty and our fees and get them to us
Settlement Generate stamp transfer document
Attend settlement on your behalf
Send letters to confirming settlement to agents and relevant parties
Remit stamp duty to Office of State Revenue
Post Settlement For cash purchases, lodge Transfer at Dept of Natural Resources
Notify you in writing with details of settlement figures and tax invoice for our account
Receive letter and tax invoice for our work
Enjoy your new home!

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