How to engage conveyancers and protect your rights

In our previous article, we have discussed the difference between Lawyers and Conveyancers. Some of you may be wondering what consumer protections you have and how we are regulated.

In this short article, we’ll give you an overview of how conveyancers are regulated and what you can expected when engaging a conveyancer.  

Make sure your conveyancer is licensed!

In Victoria, licensed conveyancers’ must adhere to the regulations under the provisions of the Conveyancers Act 2006 and Conveyancers (Professional Conduct) 2018, and subject to annual supervision by the Consumer Affairs of Victoria.

To be eligible for a conveyancer’s license you must:

  • Be covered by a minimum of $2 million professional indemnity insurance by the current approved broker

Completed one of the qualifications below:

  • 12 months full-time experience under supervision by an Australian legal practitioner or fully licensed conveyancer
  • Law Degree
  • Advanced Diploma of Conveyancing from the Business Services Training Package
  • Diploma of Financial Services (Conveyancing) by RMIT or Victoria University
  • Associate or Advanced Diploma of Business (Legal Practice)

The above requirements mean that a qualified licensed conveyancer would have gone through rigorous professional training and be monitored on an ongoing basis. Therefore, this will ensure clients receive a high standard service and be covered by insurance if anything does go wrong (knock on wood).

How are you protected?

In your property transaction, your rights and interests are best protected by conveyancers, we ensure that any information relating to your transaction will be delivered to you transparently. When there is a dispute, we will always place your need at our highest priority.

If, on the off chance, there is an issue, Austbrokers Countrywide is the insurance company appointed by Consumer Affairs Victoria to place insurance cover on behalf of all licensed Victorian conveyancers. So you will be covered by insurance. If you engage a licensed conveyancer, your transaction will always be covered by professional indemnity insurance because it is a legal prerequisite to hold a conveyancer’s license. 

How can we define a good conveyancer?

At Wealthsource, we believe a competent conveyancer is someone who has strong integrity, is able to keep every transaction transparent, knows the importance of teamwork, and will always be respectful and responsive to you. We believe conveyancers should always protect the client’s best interests. It is our responsibility to make sure that all the information is up to date with all parties and have recorded anything that relates to your property.

What services do we offer?

Our conveyancing services include: Purchase, Sale, Title Transfer and Subdivision of Land. We can act on behalf of either the vendor or the buyer, addressing matters with all parties involved in the transaction. The major work for a conveyancer is to provide information and advice to the client and prepare legal documentation for property transactions.

Feel free to contact us for an obligation free quotation and find out how we can help you buy, sell, or transfer your next property.