Course Title: Finalise the conveyancing transaction

Part A: Course Overview

Program: C5337 Diploma of Conveyancing

Course Title: Finalise the conveyancing transaction

Portfolio: BUS Portfolio Office

Nominal Hours: 30

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM7920C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term1 2016,
Term1 2017

Course Contact: Robert Sheen

Course Contact Phone: +61 3 9925 5759

Course Contact Email: robert.sheen@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to complete conveyancing transactions and ensure all matters including arranging settlement, determining contingency strategies, completing transactions and implementing post-transaction procedures, as appropriate, are completed.

It applies to individuals who use specialised knowledge, systematic approaches and strong organisational skills to prepare and process transactions efficiently.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the relevant regulator for specific guidance on requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

BSBCNV505 Finalise the conveyancing transaction

Elements:

1 Arrange the settlement

2 Determine contingency strategies for settlements where contractual obligations remain unfulfilled

3 Complete transaction

4 Implement post-transaction procedures, as appropriate


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence
Evidence of the ability to:

  • arrange and attend or electronically attend settlement in accordance with all instructions and requirements including:
    • adjustments of relevant outgoings and other fees
    • confirmation of final payments
    • checking documents for accuracy
  • complete settlement transaction that meets:
    • agency or practice organisational policies and procedures
    • legislative requirements of settlement transactions
    • client requirements
  • monitor progress where actions are delayed, extended or rescheduled and determine contingency strategies for settlement where contractual obligations remain unfulfilled
  • implement post-transaction procedures as appropriate
  • communicate effectively with a range of personnel.

Knowledge Evidence
To complete the unit requirements safely and effectively, you must:

  • identify the roles of relevant parties in a settlement
  • describe file reconciliation procedures and other financial procedures relevant to settlement transactions
  • describe the key features of:
    • formal and informal industry codes of practice governing settlement procedures
    • legislation, regulations and common law relevant to settlement transactions
  • outline practice, policy and procedures in relation to transaction settlement and client management
  • explain monitoring procedures and possible solutions where actions are delayed, extended or rescheduled
  • identify and describe key regulations and procedures of relevant government agencies relating to settlement transactions.

Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the conveyancing field of work and include access to:

  • common office equipment, technology, software and consumables
  • suitable records showing the completion of a settlement transaction.            

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.