Building your Victorian team: conveyancer, broker, inspector

Assemble the essential local professionals to protect your interests during the purchase process.

The Role of the Conveyancer

In Victoria, conveyancing is the legal process of transferring property ownership from the seller to the buyer. You can use either a licensed conveyancer or a solicitor to handle this. A solicitor can provide broader legal advice, which is helpful if your purchase involves complex structures or disputes, while a conveyancer focus specifically on property transfers. They will review the Section 32 Vendor Statement, which is the most important legal document in a Victorian sale. They will also handle the adjustment of rates and taxes, ensure all titles are clear, and coordinate the settlement process through the electronic settlement platform, PEXA.

When you are relocating, having a conveyancer who is responsive to email and comfortable with digital signatures is essential. They will be your primary point of contact for legal matters and will ensure that you comply with Victorian law. It is best to engage them before you sign any contract so they can review the terms and suggest any necessary special conditions. They will also guide you through the process of paying the deposit and the final balance. Ensure they are a member of the Australian Institute of Conveyancers (Victorian Division) for professional peace of mind.

Independent Building and Pest Inspectors

As discussed in previous chapters, an independent building and pest inspector is a non negotiable member of your team. In Victoria, properties are generally sold as is, which means the burden is on the buyer to discover any defects before the contract becomes unconditional. Your inspector should provide a comprehensive written report that includes photos and a detailed assessment of the structural condition, roof, subfloor, and potential pest activity. They should also look for signs of asbestos, which is common in older Victorian homes. Ensure they carry professional indemnity insurance and are happy to discuss the report findings with you over the phone.

Do not rely on a report provided by the selling agent, as it may not be independent. If you are buying at auction, you must have the inspection completed beforehand, as auction bids are unconditional. For private sales, you can make the contract subject to a satisfactory building and pest inspection, but the wording of this clause must be precise. Your conveyancer can help you draft a clause that allows you to withdraw from the sale if major structural defects are found. This protection is vital when you haven't been able to walk through the property multiple times yourself.

Mortgage Brokers and Tax Advisors

We have already touched on the importance of a mortgage broker, but it is worth reiterating that they should be part of your early team. Beyond the broker, if you are an international buyer, you might also need a tax advisor who understands the double taxation treaties between Australia and your home country. This ensures that you are not paying more tax than necessary on your Victorian property. They can also advise on the best way to structure the ownership of the property, whether in individual names, a company, or a trust, although each has different FIRB and duty implications.

Communication is the glue that holds your team together. Ensure all your professionals are aware of each other and are kept in the loop on key milestones. For example, your broker needs to know the settlement date agreed upon by your conveyancer to ensure the funds are ready. In Victoria, settlement periods are commonly thirty, sixty, or ninety days, and your team needs to work together to meet these deadlines. Using professionals who are familiar with the Victorian market and its specific regulations will significantly reduce the stress of relocating and provide a safety net for your investment.

• Select a Victorian licensed conveyancer or solicitor
• Engage a VBA registered building inspector
• Partner with a specialist mortgage broker
• Consider a tax advisor for cross-border issues
• Ensure all parties use PEXA for settlement