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DIY conveyancing

Can I DIY Conveyancing in Victoria? 

While technically, you can do conveyancing yourself, conveyancing is not something you should “DIY” like an IKEA flat-pack. (Depending on who you are, flat packs might be a struggle too!

In Victoria, DIY conveyancing is possible, but it requires a deep understanding of Victorian property laws and a subscription to PEXA (Property Exchange Australia), which may not be easily obtained. Visit PEXA for more details. As there is significant amounts of money at stake, it is best to trust a licensed professional to handle the conveyancing process. 

It’s not this easy! 

Choosing the Right Conveyancer

To ensure a smooth conveyancing process, it’s essential to:

  • Select a qualified and experienced conveyancer or legal practitioner who makes you feel comfortable.
  • Check references and inquire about the quality of their services.
  • Get written quotes and clarify all administrative costs (“disbursements”).

 

Risks of DIY Conveyancing

You may not know what you are doing, and that could lead to you losing money. Property can be an emotional purchase decision, and engaging a professional can sometimes protect you against your own emotions.

By engaging a professional who is emotionally impartial to the purchase. The old saying “buy in haste, repent at leisure” is always something to have at the back of one’s mind, before making a high-involvement purchasing decision such as buying a property. 

Some risks associated with DIY conveyancing include losing your deposit, failing to comply with legislative requirements, or failure to comply with Victorian land tax provisions. 

Why Use a Professional Conveyancer?

A licensed conveyancer in Melbourne can handle essential tasks such as preparing or reviewing the Section 32 statement and other legal documents like the contract of sale. Conveyancers are licensed professionals who are authorised to:

  • Undertake conveyancing work.
  • Provide contractual advice
  • To find a licensed conveyancer in Melbourne or verify their credentials, search the Public register of licensed conveyancers.
  • Be a member of AICVIC

Section 32 Statement (Contract Review)

Before selling a property in Victoria, a Section 32 statement must be provided to the buyer. This statement, required by the Sale of Land Act 1962, includes crucial details about the property such as mortgages, easements, zoning, and others. Accuracy in the Section 32 statement is vital; inaccuracies can lead to legal repercussions or allow the buyer to withdraw from the sale. For more information, please read another one of our website blogs. 

Typically, the selling agent makes this document available to prospective buyers who can have it reviewed by their conveyancer or legal practitioner. 

Our office has decades of experience preparing and reviewing section 32 statements. Engaging in DIY conveyancing can be risky without specialist Victorian property expertise. Consider the benefits of professional assistance to navigate your Victorian property transactions safely and effectively. 

Please call our office for further guidance 🙂 

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