As a Conveyancer or Property Lawyer, you would be familiar with all the due diligence required to prepare a contract. While every property will be different and require unique searches, here is a guide for all NSW Conveyancers of Searches that go into a Sale matter.
Verifying your client identity is the first step in the conveyancing process. All buyers and sellers are required to have their identity verified before transacting to prevent fraud. Applications like triVOI, can be used to easily and securely identify your clients from any location.
2. NSW Title Search
A Title Search also known as a Certificate of Title or deed reference, is a legal document that outlines the specifics of a property. It provides details of the current owner, any associated dealings, and a land description.
A title search is used to assure the current owners’ details, information on a mortgage registered and to see if the property has any issues that could change the outcome of the transaction.
3. eCOS (contract of Sale)
The contract of sale is a legally binding agreement between you and the owner of the property.
It protects both the sellers and buyers’ rights. The contract of sale includes:
- The names of the vendor and purchaser.
- The property address.
- The deposit to be paid.
- The sale price of the property.
- The date of the property settlement.
- Certificate of title information.
- If the property will be available as a vacant possession, or if it is subject to a lease.
- Conditions of the sale including financing information or if additional building inspections are required.
- Other general and special conditions/encumbrances (mortgage or a lease agreement).
4. Plans and Dealings listed on the Title Search
Plans and dealings are used to find out the land boundary information.
A plan, also known as a title diagram or survey plan, depicts the boundaries of a parcel of land when it was registered. Plans are commonly conducted by surveyors include dimensions of the land, the type of the boundary (i.e. roads, walls or fences) and possible restrictions.
A dealing is an instrument which can be registered or capable of being registered on a title of land. It relates to a transaction that has affected the land and needs to be noted on the Title.
- transfer or discharge of a mortgage
5. 10.7 Planning Certificate
Section 10.7 Planning Certificate provides information on any potential development happening on a parcel of land. This includes any zoning, the planning controls and other property restrictions such as land contamination, level of flooding and bushfire prone land.
6. Sewer Diagram and Service Location Print
Sydney Water Certificates provide more information on a property which are needed in the purchasing, development or building of a property.
- Service Location Print: This diagram shows the pipes and structures on the property and the point of connection to the wastewater system. It is used to provide further information about the property pipes. They check the point of connection, location of pipes and distance between the existing building and pipes.
- Sewer Service Diagram: This diagram shows the private sewer pipes on the property. They are used to check if the plumbing on the property has been inspected and where the private pipes are crossing the property.
7. PSR Land Tax Certificate/Section 47
A conveyancing certificate also referred to as the Section 47 Certificate, it details the current water rate charges remaining on a property. This allows for the charges to be allocated accordingly between the owners.
All these Searches, Certificates and services are available through the triSearch platform, at the industries lowest cost. You can book in an obligation-free demonstration at anytime to see how easy the platform is or click here to start searching.
You can also Contact Us via the website for any questions.