Benefits of Using a Conveyancer When Purchasing Property
As you may already know, buying and selling property is not as easy as most people think. You don’t just exchange ownership contracts and pay a lump sum of money – there’s so much more that has to be taken into consideration!
On top of that, even if you have bought one or two properties in the past, you still cannot say that you know exactly how the market works. You don’t know all its inner and most intricate workings.
In this respect, it sis always a smart move to hire a conveyancer to help you with advice, information, documents, and go through the settlement process.
What Is A Property Conveyancer ?
A conveyancer is a licensed professional that knows real estate law. The process of conveyancing implies the legal process of selling and buying land. The conveyancer is that person who understands perfectly the laws referring to property sales.
As a matter of fact, there are states that recommend you hire a conveyancer as soon as possible. Moreover, in Victoria, New South Wales, and Tasmania, you are required to engage in conveyancing before you put a house on the property market.
The Benefits of Using a Conveyancer
A conveyancer can do quite some things for you, saving you time and probably money as well. For example, they can:
1. Prepare and/or clarify certain documentation required for the purchase of the property.
2. Research the Contract of Sale and make sure there is nothing that will negatively affect you.
3. Assist with ordering pest/building inspection reports.
4. Research the property itself, as well as its certificate of title.
5. Check for easements or for any other information that you may need or require.
6. Place your deposit into a trust account.
7. Calculate the required taxes and rates.
8. Conduct/Coordinate a property settlement.
9. Represent your interests in conversations with vendors or real estate agents responsible for the sale of the property that you want to buy.
10. Assist your mortgage and finance broker with settlement.
Obviously, these are the most common services that a conveyancer can offer you. In short, they can help you with any aspects related to the purchase or sale of a property.
On top of that, even though you can do the conveyancing on your own, keep in mind that you can be held liable for any oversights and mistakes that you make.
For example, a conveyancer knows that deceased estates are ruled by other regulations than usual – you may not know that and have to face certain consequences later. Moreover, each territory and state come with different requirements in terms of conveyancing.
How Much Does A Conveyancer Cost
Depending on the level of service you require, this can be anywhere between $500 – $2,000. Even though conveyancer fees can differ –– their services are worth the money. The fact that they will be held liable for any mistakes ensures you that they’ll do a good job and have your best interest as a priority.
The Bottom Line
When it comes to benefits, you can see conveyancers as those overseeing the whole process implied by the purchase of a property. Naturally, you could oversee it yourself, but it is much better to have someone who understands the law by your side and authorised to coordinate settlement with your bank.
Need a Conveyancer? Here at Highline Lending, we have relationships with some of the best conveyancers who share the same high levels of service, perfection and results. We’d be more than happy to put you in touch with them ensuring your property transaction is a smooth process.
If you are yet to purchase a home and only need a home loan to do so, maybe our team can help you! We feature a team of experts ready to guide you through the process of finding the best possible loan for you.
Reach out and contact us today – we’re more than happy to help you!
Contact us on 02 8530 1107 or submit your scenario online
