A conveyancer is vital in situations involving the law and legal matters in real estate. When you’re out to buy a new home, you might want to look for a right solicitor aside from a helpful real estate agent.
While looking for a new home may seem exciting, it can be full of legal issues, especially if you’re not familiar with the legal policies involved with buying a new home. The same is true when you are about to sell a property.
It is crucial to acquire the services of a conveyancer when buying and selling properties. In essence, a conveyancer is a licensed professional that has extensive knowledge and understanding of real estate law. They provide expert advice and information about buying and selling property, draft legal documentation, and assist clients from beginning to the end of a settlement proceeding.
Solicitors may also step up and function as conveyancers, but this is not at all a requirement. At the least, a conveyancer must be a licensed professional in the territory where you are planning to buy or sell properties.
A Brief Introduction to Conveyancing
Conveyancing is a term that refers to the legal process of buying and selling land. Ergo, a conveyancer is a licensed professional who has an in-depth understanding of the laws surrounding the selling and buying of property.
Experts recommend for landowners to obtain the services of a conveyancer as soon as they decide to sell or buy a property. In most territories, including Victoria, conveyancing is mandatory before putting a house on the market.
Buying and selling property in Melbourne may seem simple and straightforward, but this is actually a very complicated process to implement without the help of a conveyancer. Buying and selling property is a complex process that requires a deep understanding of the intricacies of real estate laws. Also, one needs to know how to communicate and negotiate with involved parties for a transaction to be successful altogether.
One crucial element that will require extensive knowledge and experience when selling a residential home is that of property laws. Property laws are different across different Australian territories. With this in mind, it becomes more crucial for property owners to obtain the services of an experienced property conveyancer to manage the proceedings from start to finish.
Conveyancers are known to have comprehensive knowledge of the ins and outs of the real estate industry. They will be able to facilitate transactions on your behalf with less hassle and delays.
What are the Advantages Offered by a Conveyancer?
Here are some of the advantages that property owners such as yourself will get from acquiring the expertise of a licensed property conveyancer:
1. Extensive property research
Conveyancers will execute a thorough research on a property, including its history and any pertinent information of the home that a client is about to purchase. Also, conveyancers confirm the presence of any issues that may be attached to a property.
If you decide to apply for a mortgage, your lender will require a valuation of the property. You can choose to have your lender have their surveyor to do the job, but many experts advise that you should hire your surveyor to formulate a report on the property that you’re interested in buying or selling.
2. Prepare, verify, and submit documentation
A conveyancer will be responsible for the preparation and completion of legal documents for both parties. All paperwork needs to be reviewed before any final decisions are made. An expert conveyancer will be helping you in making the right decisions.
Aside from dealing with your real estate’s legal issues, it is also the responsibility of your conveyancer to contact the seller. The seller’s solicitor or conveyancer will give your conveyancer a draft copy of the contract as well as any other requests of the seller. Make sure that you and your conveyancer check this list thoroughly to make sure that you are accepting a fair deal and contract.
3. Organising finances
Conveyancers remind clients of additional expenses that are associated with buying and selling property. Apart from the price tag attached to a house, one must take care of other processed that may cost additional spending such as stamp duty, surveyor’s fees, search fees, registration fees, and insurance. It should be emphasized that adequate insurance must be enforced to deliver excellent protection to the client.
A conveyancer will assist you in making sound decisions before signing a contract with a buyer or seller. If you have little to no knowledge about real estate law, a hired conveyancer will render much-needed assistance to understand further the terms and conditions included in the contract.
They also provide sound professional advice as to which financial option is best suited for a business transaction, hence helping the client get the best deal from buying and selling a property.
4. Negotiating with real estate agents
A conveyancing expert can help you deal with real estate agents. Real estate professionals play an integral role in transactions that involve selling and buying of properties.
A conveyancer with adequate experience in the Melbourne real estate market can provide you with recommendations as to which real estate agents are best to work with for your situation. They will also ensure that you are not misled or short-changed by real estate agents as a result of your lack of knowledge when it comes to property transactions.
Make sure that the conveyancer that you’ve chosen has a lot of experience dealing with real estate property transactions. If you’re looking for an excellent conveyancer that can help you deal with complicated law and legal matters, it helps to hire the one that is a member of the Australian Institute of Conveyancers that is licensed to provide his or her professional services in Victoria. Also, it is best to check the assurances register to identify if a conveyancer has had any report of assurance of an alleged breach.
The fees that you’ll need to pay vary per conveyancer, although keep in mind that a conveyancer who charges cheaply could not always guarantee excellent service or representation.