Property conveyancing is a critical part of any real estate transaction, however, many people make the mistake of trying to go it alone, which can lead to serious problems down the track.
Conveyancing involves the legal transfer of ownership of a property from one person to another, which is usually the final part of the process. While it may not be as visible as the role of real estate agents, it’s just as important.
Here are five reasons why you should use a lawyer or conveyancer for your real estate transaction.
Ensures a Smooth Transfer of Ownership
The conveyancing process involves the preparation and review of necessary documents, research on the property, placement of deposit money in a trust account and the settlement of the property. Engaging with a specialist, such as a property lawyer, conveyancer, or settlement agent, ensures the transfer of ownership is done correctly and efficiently. This helps avoid any potential issues that could cause a delay or failed settlement.
Protects Buyers from Risks
During the conveyancing process, the lawyer conducts research to identify any issues that could affect the successful settlement of the property. These issues may include property boundary issues, land contamination issues, government leases, environmental issues, land tax, building and pest issues, unpaid levies, body corporate, litigation, or any number of other potential problems depending on the property. The lawyer or conveyancer makes sure that the buyer is fully informed and protected from any risks associated with the property, which will help provide peace of mind and allows the buyer to make an informed decision.
Not a Check Box Process
Conveyancing is not simple, and the process requires attention to detail and an experienced lawyer or conveyancer to guide the buyer through the legal issues that come with a property transaction. While some companies specialise in conveyancing and use article clerks or paralegals to do the majority of the low-level inquiries, a lawyer still needs to sign off on the work done. This ensures that a buyer is fully protected and the process is done correctly.
Protects Sellers from Unreasonable Offers
A lawyer or conveyancer acts as a safety net for sellers, protecting them from any unreasonable offers. They also ensure everything is done right the first time. A seller needs to engage with an experienced lawyer or conveyancer that will make sure the seller is fully informed and protected during the sale of their property.
Saves Time and Reduces Stress
The property conveyancing process can be time-consuming and stressful. By engaging with an expert, the buyer can relax and know that the settlement is in good hands, making the entire process less stressful. This provides the buyer with the time and energy to focus on the other important aspects of the property purchase.
Property conveyancing is a crucial step in any real estate transaction and working with a professional ensures it is handled efficiently and professionally, providing new landowners with peace of mind and a successful outcome.
