FAQ: Steps involved in Selling a Property
- Thread starter Olly
- Start date
McGlinchey Lawyers
In NSW the vendor must attach a copy of the title search from the Department of Lands to the contact. The purchaser carries out searches to ensure that the vendor has disclosed all the information in the contact that they are required to by law. The searches are commonly called title searches but they are really searches with third party bodies ( eg roads and traffic, education department ) to see if any of these departments have major plans which impact the property. In some cases, if information has not been disclosed by the vendor, the purchase can rescind the contact.
The process of Conveyancing varies from state to state but the above is more of less the same in all states.
In NSW the vendor must attach a copy of the title search from the Department of Lands to the contact. The purchaser carries out searches to ensure that the vendor has disclosed all the information in the contact that they are required to by law. The searches are commonly called title searches but they are really searches with third party bodies ( eg roads and traffic, education department ) to see if any of these departments have major plans which impact the property. In some cases, if information has not been disclosed by the vendor, the purchase can rescind the contact.
The process of Conveyancing varies from state to state but the above is more of less the same in all states.
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In Qld Vendor should attach one with the contract, although a lot dont.
A buyers solicitor will do one too once the contract is signed.
Then they usually do one on settlement day, just to make sure nothing like a mortgage or caveat has been lodged in between signing and settlement....
Its a title search ordering party........
