What exactly is conveyancing and why is it considered so very important and vital? It is important for us to find the answer for this before being able to find out more about the roles and responsibilities about these individuals. Put in plain and simple words, conveyancing is about the various processes that have to be gone through for smooth transfer of ownership of properties from seller to the buyer. The process usually gets starts once there is an in-principle agreement between the seller and the buyer to transfer the ownership for some consideration. While the seller would want to get the right price for the property the buyer would be keen on getting a property that is perfect from all points of view. But what is the right price and what is a perfect property? There are various points that go into determining the above two main issues. It is the role of the conveyancers to ensure that the main two issues mentioned above are fully satisfied for the both the stake holders.
Now coming to specific responsibilities and roles of conveyancers, they could be classified into three major categories, i.e. legal, administrative and compliance related. The legal aspects are usually taken care of by the real estate lawyers and property valuers. The administrative and compliance related matters are the responsibilities of real estate documentation specialists and other administrative and support staff.
The main role of real estate lawyers is to examine the property from a legal point of view. They scrutinize each and every property document and ensure that what is stated in the document is factually correct on the ground. This would call for examination and personal verification of the property. Let us now try and understand something more about the importance of property valuers. Their role is also very important and it is all about giving a clear picture about the fair market value of the property in question. Though the market is certainly a good indicator about the value of the property it has to have a legal stamp and an okay from an expert. It is here that the role of property valuers becomes very important. In almost all the cases valuers’ reports are taken as the basis for calculating property taxes and stamp duty amounts.