Frequently Asked Questions
What is Conveyancing?
Conveyancing is the legal process of transferring legal ownership of a property from one party to another.
Why should I use a conveyancer?
Selling or purchasing property is one of the biggest financial transactions you will make. Due to the financial and legal aspects of transferring property, the process can be costly, stressful and time consuming.
A licensed conveyancer can protect your interests in the transaction and endeavour to make the process as smooth and timely as possible. At Sproal & Associates we deal exclusively in conveyancing and are not distracted by other types of legal matters. We concentrate on your dealing to ensure that we achieve the best result for you.
Are my interests protected when I use a conveyancer?
All licensed conveyancers in Tasmania are required to have professional indemnity insurance in place to ensure your rights are protected.
What is the difference between a conveyancer and a lawyer?
A qualified conveyancer must have completed an approved and recognised course of study as well as have a required period of experience. A lawyer has a broader qualification enabling a lawyer to advise on other legal matters. The benefit of using Sproal & Associates is that whilst Barry Sproal is a licenced conveyancer he was formerly a commercial lawyer having been a partner in a local legal firm for more than 20 years before obtaining a conveyancing licence and establishing Sproal & Associates Specialist Conveyancers.
Do we need to use a solicitor as well as a conveyancer?
No. Conveyancers are specialists who are educated and qualified to provide expert advice in relation to matters on conveyancing law. We do not handle other legal matters such as leases, wills, divorces, criminal matters or personal injury claims. This means our attention is not diverted by other legal matters.
Is a conveyancer cheaper than a solicitor?
Usually yes. Generally conveyancers will charge a flat fee plus any associated disbursements, whereas solicitors usually charge on a scale depending on the sale or purchase price of the property.
If I sell my property privately without using the services of a real estate agent can I use a conveyancer?
Yes. A conveyancer can prepare a contract for sale for you and deal with the purchaser or their conveyancer to arrange signing.
How quickly can Sproal & Associates prepare a contract on my behalf?
We can prepare a contract immediately. If you are buying or selling you need to have documents checked or prepared promptly. At Sproal & Associates we do not require you to make an appointment. We will see you when it suits you. If you are negotiating a sale or purchase please contact us so that we can assist you.
Do I have to pay stamp duty?
Yes, stamp duty, or duty, is payable on all property transfers. There are few exemptions. There are also no pensioner concessions. See the State Revenue Office link and the duty calculator.
When do I need to see you?
We would prefer to see you when you are thinking of buying or selling so that we can give you advice on any proposed contract, and in particular, what should or shouldn’t be included in any contract. If you are dealing with a real estate agent we would like to see you before you sign any contract. It needs to be appreciated that once a contract is signed the parties to it are bound by its terms. There is no cooling off period in Tasmania. Many purchasers are asked to sign a contract as an offer without realising that if that offer is accepted by the seller and the contract signed, the purchase is bound without reference back to the purchaser. Many purchasers are of the mistaken belief that the written offer they have made is simply a step in the negotiation process and that the contract is signed once all of the terms are agreed. This is not so.
Sproal & Associates makes no charge for providing initial advice or to review a contract. We only charge if the transaction proceeds and all conditions in the contract are satisfied.
When do I need to pay costs and fees?
All costs and fees are paid prior to or on completion of the transaction. If you are purchasing, prior to completion of your purchase we will provide you with a statement setting out the amount you are required to pay to complete your purchase. This includes the balance of your purchase price, your share of rates and land tax (if applicable), stamp duty, filing fees, search fees and costs.
If you are selling we usually, and subject to your consent, deduct our costs and fees from the proceeds of sale. Following completion of your sale the proceeds will be paid to you or your bank.
Do I need to attend settlement?
No, settlement occurs when the seller receives the sale proceeds and the buyer receives the title documents to the property. Settlement is usually attended by the representatives of the seller and the representatives of the buyer and the respective banker or financial institutions. We will contact you immediately following settlement.
Do I need to notify the Council of my sale or purchase?
No, once the transfer documents are registered at the Land Titles Office written notification of the transfer of ownership is provided to the Council, the Land Tax Branch and the Valuation Division. We advise the water authority of the change of ownership and recommend that you also contact the water authority as they do not receive notification from the Land Titles Office in the same manner as the other authorities.