Why do you need a conveyancer, anyway?
Buying or selling property is not a simple matter of transferring ownership. As anyone who has been through it before can attest to, the whole process can take a huge chunk of your time to coordinate, especially if difficulties or setbacks arise.
As such, it’s important that you have a qualified support team around you to make the process as seamless as possible. Hiring a conveyancer falls into this category – but what does a conveyancer actually do for you?
Conveyancing is the legal process of transferring property from one person or entity to another. Though you don’t legally need a conveyancer to buy or sell a property, they can help make the process much less stressful. Furthermore, a professional and experienced conveyancer offers a number of other benefits:
#1: Conveyancers can help save you money
Technically speaking, you will spend a little money to hire a qualified conveyancer. But the complexity of the conveyancing process means that this small outlay will be recouped (and then some) during the transaction, particularly due to the high risk of making mistakes while attempting to do it yourself.
Conveyancers help you avoid unwanted and expensive complications with your property transaction, which can lead to more savings down the track. For instance, as conveyancers perusing your contract, we may notice in the strata report that the apartment you are buying requires substantial and costly repairs. Alerting you to this early in the process can allow you to rescind the contract if you wish, rather than being stuck with a property that turns into a money pit.
#2: Conveyancers can save you time
Conveyancing matters can take a fair amount of time and effort to review, analyse and finalise. You have to deal with real estate agents, vendors, banks, mortgage brokers, building inspectors and government agencies. Aside from that, you also need to understand all the legal, financial and governmental documentation involved, or you’ll risk putting yourself in hot water with your property purchase.
Hiring an experienced and qualified conveyancer will save you hours of paperwork and legwork as they take care of almost all the legal work for you. They liaise with real estate agents and building inspectors, keep your settlements on track with the vendor, and arrange reports for government agencies, all on your behalf.
#3: Conveyancers provide you peace of mind
A quality conveyancer always has your best interest in mind, so you can be sure that they will perform their tasks to the best of their abilities and expertise.
This means you no longer have to worry about preparing and lodging legal documents, as your conveyancer will do this for you. They are also responsible for the checks that should be undertaken to find any easements, as well as the investigations of other key areas involved in the transaction. They will even handle the practical financial aspects of your property transaction, such as liaising with your lender to draw cheques for settlement and calculating adjustments to be paid at settlement.
If things go sideways, having a licensed conveyancer on your team provides you with priceless peace of mind, as you can rest assured that they will handle things for you and guide you towards a positive outcome.
A conveyancer is indeed an important asset when you’re buying or selling a property. Just make sure that you deal with a licensed and experienced conveyancer who knows the ins and outs of your local property market.