FAQs
Frequently Asked Questions about Conveyancing
1. What is Conveyancing ?
Conveyancing is the process to transfer the legal title or ownership of land from one owner to another.
2. Why do I need a Conveyancer?
Whilst the definition of Conveyancing may appear simple the complexities involved through a conveyancing transaction can leave the inexperienced or amateur in a load unexpected trouble.
3. What is a Statement of Adjustments?
A Statement of Adjustments is prepared by the Purchaser’s representative to calculate the amounts owing for Council rates, Water rates, Owners Corporation fees (where applicable) amongst other things.
Adjustments are calculated so that each party bears their share. (Vendor is liable for everything up to the date of settlement and the Purchaser is liable for everything post settlement)
4. What is Title insurance ?
Title insurance provides protection to home buyers in the event of Title or Mortgage fraud. There has been a number or recent television current affairs programmes outlining the increasing title fraud. Title insurance can also cover, but not limited to; Unapproved Building Works, Planning and Title Defects and Boundary and Survey Issues.
We recommend: Stewart Title.
5. Do I need to attend settlement ?
No you will not be required at settlement. We attend your settlement electronically via the platform PEXA; where we monitor the exchange of relevant documents, Land Title Registry and financial settlement.
6. What is Stamp Duty ?
Stamp Duty is a tax imposed by the Victorian Government on the transfer of a property, whether its by way of contract or some proprietorship transfers will incur stamp duty.
7. Does Ideal Conveyancing retain the services of a Backing Solicitor?
As a member of the AIC, Vic Division; we retain Michael Benjamin as our Backing Solicitor.
8. Do you hold Insurance?
In compliance with the Conveyancers Act 2006 we hold Professional Indemnity Insurance for $2,000.000.00
What Our Clients Say
Christopher Kearon
General Manager – Consumer Business
Melbourne Football Club
I could not be more thankful for Ideal’s rather prompt assistance with helping me to not only sell my house smoothly but also to manage other properties at the same time for me. Ideal made a rather daunting situation seem absolutely seamless. Their communication was excellent and at no stage was I ever unaware of what the short term looked like. Thank you to the Ideal team I cannot wait to use your services again
Michael Harold
Being a Real Estate Professional, its important to me that the timely production of correct documentation is always readily available as the outcome of every transaction is dependant upon it. Angela and the Team at Ideal Conveyancing provide the right paperwork, on time, every time and see the transaction through to its successful conclusion and are always on hand to guide the process should something untoward occur. I thoroughly recommend Ideal Conveyancing and have no hesitation in referring them to family, friends and clients.
Paul Dabb
Licensed Estate Agent & Auctioneer
We have been employing the services of Ideal Conveyancing for the last 18 years & have found that no matter what obstacles are brought before us, Ideal Conveyancing always ensures a stress free process, they are a pivotal partner to our business.
Steve Bezzina
Director, Vision Developments
Peake Real Estate