If you have chosen to sell your home yourself, or purchase a home via FSBO, then conveyance is a process that you might want to educate yourself on. Conveyance is the actual process whereby a home is transferred from the old owner to the new owner. By the process of conveyance, the buyer of the home will eventually, after the contracts are complete; have clear and authentic title to the property in question. This is a process that under normal circumstances is seen to by the involved realtors and a number of attorneys and other legal professionals, including the mortgage lender.
While the actual act of conveyance has different elements depending on the State that the property is in, the basics of the process is much the same. At this time it is usually the representatives of both the buyer, seller and mortgage company that meet to exchange the deeds to the property. Of course, in a FSBO situation, this could very well be done by the actual buyer and seller. However, the deeds to the property are only the beginning of the documentation that must be dealt with during the conveyance. Other critical matters such as title insurance, promissory notes, pro rata property taxes...
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