Below we will discuss and lay out the entire conveyancing process in 16 stages. We advise you to first read part I and part II to completely understand the following stages.
STAGE 1
– The Buyer signs an offer to purchase property from the Seller through an Estate Agent.
STAGE 2
– The Buyer applies at a Bank for a Loan.
STAGE 3
– The Estate Agent sends the Sale Agreement to the Transferring Attorney.
STAGE 4
– The Transferring Attorney contacts the Seller’s Bank and will request the Original Title Deed as well as the Cancellation Figures.
STAGE 5
– The Buyer’s Bank instructs their Bond Attorney to register a Mortgage Bond.
STAGE 6
– The Seller’s Bank instructs their Cancellation Attorney to cancel the Seller’s Bond.
STAGE 7
– The Transfer Attorney will request a Rates Clearance Certificate from the Local Authority.
STAGE 8
– The Transfer Attorney assembles and prepares the Documents.
STAGE 9
– The Buyer is called by the Transferring Attorney to sign the documents.
STAGE 10
– The Buyer will pay the Transfer Costs and their share of Rates and Taxes.
STAGE 11
– The Transferring Attorney will instruct the Lodging Attorney to lodge the Documents in the Deeds Office.
STAGE 12
– The Lodging Attorney will then contact both Cancelling and Bond Attorney to ensure that all the documents are lodged on the same day.
STAGE 13
– The Deeds Office Examiner will carefully check and review all of the above documents.
STAGE 14
– The Deeds Office Examiner then contacts the Cancelling, Bond and Lodging Attorney in order to inform them that the Documents are ready.
STAGE 15
– The Documents are then registered the following day.
STAGE 16
– The Transferring Attorney will then finally send the Title Deed to the Buyer’s Bank.