Do I need a conveyancer?
When trying to settle a home purchasing agreement, the complexities of the entire process can be overwhelming. Everyone hopes for an easy, smooth, and stress-free settlement but with only hope at bay, there is no security in assuring that it will happen.
Having a good conveyancer by your side throughout the home buying or selling process can be the difference between stressing less or pulling your hair out. After all, a diligent conveyancer is often worth their weight in gold.
Whether you are purchasing or selling the property, legal assistance is required to help with the transfer of property as well as performing all aspects of due diligence relating to the agreement. The role of a conveyancer triumphs with respect to reviewing all legal documents such as the sale and purchase agreement as well as the assessment of taxes involved in the purchase of the property. Conveyancers also help ensure that payment is made in coordination with the settlement date.
Put simply, a conveyancer aids in the buying or selling aspect of the property relating to the transference of legal ownership and title of the property from one to another. As conveyancers are legally qualified professionals, your interests are protected at all times in the event of any mistakes taking place during the performance of legal obligations.
Once an agreement is drafted and the purchase price is agreed upon, the sale and purchase agreement is prepared and sent to a conveyancer. From here, the conveyancer will thoroughly examine the terms of the contract to ensure accuracy and that your interests are protected. Your conveyancer may also prepare a summary of the agreement highlighting the important terms prior to signing. This not only saves you having to read through dozens of pages of legal terminology but helps you not miss out on any important information in the contract.
Once you are satisfied with the terms of the agreement, you sign it and pass it onto your real estate agent as soon as possible. It is critical to mention that time is of the essence due to the property not being legally secured until both parties have signed the contract.
Once the cooling off period (as defined in the contract) has expired, the contract becomes legally binding. Your conveyancer then undertakes a myriad of tasks ensuring that your legal interests are protected. These tasks include preparation and lodgement of legal documents such as the transfer of land. A good conveyancer will diligently check the accuracy of the property description in accordance with the land title certificate.
Coordination of ideal settlement dates and times will be arranged by your conveyancer in accordance with the seller, purchaser, and respective financiers. Conveyancers will help settle any outstandings relating to the property by contacting your financial institutions in assurance that payments are to be made at the relevant time and place.
If you are hesitating on whether to engage a conveyancer during the sale or purchase of a property, you should ask yourself the question of whether time, sweat, and potentially tears is worth avoiding.
Article provided by Conveyancing.com
Daily Bulletin
