What is a Settlement Agent (Conveyancer) and what do they do?
Simply put a settlement agent undertakes the responsibility of the transfer of your property. But unfortunately the process is not quite as simple as it first may seem.
A settlement agent duties include (but not limited to):
- Title searches of property;
- Search any encumbrances etc on the property;
- Preparation of legal documentation;
- Preparation of a settlement statement showing the funds due/required at settlement;
- Checking all documents are correct;
- Complete other available searches;
- Liaise with lending institutions to ensure they are ready before the due settlement date (where possible);
- Follow up special conditions of the contract;
- Adjustment/payment of all outgoings due on the property;
- Attend settlement to complete exchange of all documents and moneys;
- Keep clients informed at all times during the process.