FROM THE BLOG

When it comes to property transactions in Victoria, it’s common to hear about two key professionals: conveyancers and solicitors. Both play a crucial role in ensuring a smooth and legally sound property transaction. In this blog post, we’ll explore the key differences between conveyancers and solicitors to help you understand their roles and when to engage their services.

1. Conveyancer: The Property Transfer Specialist

Role: A conveyancer specialises in property transactions and is responsible for handling the legal and administrative aspects of transferring property ownership from the seller to the buyer. They focus specifically on property-related matters.

Responsibilities:

• Drafting and reviewing and negotiating contracts of sale.
• Providing legal advice on property transactions.
• Handling disputes and legal issues related to property.
• Performing property title searches to ensure clear title.
• Conducting due diligence on the property’s legal status.
• Managing the settlement process, including the transfer of funds.
• Handling stamp duty calculations and payments.
• Liaising with real estate agents, other parties, and authorities involved in the transaction.

Qualifications: Conveyancers in Victoria must hold a Conveyancer’s License, which involves completing specific education and completing practical legal training to meet the requirements set by the Victorian government.

2. Solicitor: The Legal Expert

Role: A solicitor is a legal professional who can handle a wide range of legal matters, including property transactions. They have a broader scope of practice beyond property and real estate law.

Responsibilities:

• Drafting, reviewing, and negotiating contracts.
• Providing legal advice on property transactions.
• Handling disputes and legal issues related to property.
• Representing clients in court if necessary.
• Addressing complex legal matters outside of property transactions.

Qualifications: Solicitors undergo extensive legal education and training in a wide variety of legal subjects, including criminal law, tax law and copyright law, earning a Bachelor of Laws degree.

3. The Key Differences:

• Scope of Practice: Conveyancers primarily focus on property-related matters, while solicitors have a broader legal practice encompassing various areas of law.
• Legal Expertise: Solicitors have a broader knowledge of legal matters having spent time  studying and practicing in other areas of laws such as wills and probate, criminal law, and civil disputes.
• Specialist Practice: Conveyancers specifically study and practice property law, and generally have a more in-depth knowledge on conveyancing matters given that they’ve studied that area of law for longer.
• Cost: Conveyancers often offer more cost-effective services for property transactions. Solicitors may charge higher fees due to their broader legal expertise.

4. When to Engage Each Professional:

• Conveyancer: Conveyancers are suitable for most property transactions but some conveyancers do not hold the additional qualifications required to undertake conveyancing work for sale of business. They provide a cost-effective and efficient solution for routine property transfers.
• Solicitor: Engage a solicitor if you require additional legal advice in respect of complex taxation matters. If a dispute has arisen between the buyer and seller which needs to be settled in court, you will to engage a solicitor to specialises in litigation which is beyond the scope of conveyancing and common solicitors.

Conclusion

In Victoria, both conveyancers and solicitors play a vital role in property transactions. Understanding their differences can help you make an informed decision when it comes to engaging their services. Whether you choose a conveyancer or solicitor, the most important factor is the amount of experience and knowledge the individual file manager has. This will ensure a successful and legally compliant property transaction.

Further information on conveyancers can be obtained from the State Revenue Office website here: https://www.consumer.vic.gov.au/housing/buying-and-selling-property/selling-property/conveyancing-and-contracts-for-sellers or by contacting ConveyancingX.