Buying a house is a thrilling experience. You get to visit many properties each with its own uniqueness. Once you narrow down to a house of your choice, the tedious process of acquiring the property commences. At this point, the parties involved may choose to engage professional conveyancing services. A conveyancer is charged with transferring property from one owner to the other and can only represent one of the two sides. Once hired, the following are his or her duties.
To the buyer:
- Engage with the seller's conveyancer to acquire a contract pack.
- Address legal documents such as the memorandum of transfer and contract of sale.
- Conduct a search on the property and identify any issues with its certificate of title.
- Calculate the rates and taxes charged on the property.
- Receive a mortgage offer and ensure that the client has adequate funds to complete the transaction.
- Exchange contracts with the seller's conveyancer and deposit funds.
To the seller:
- Prepare legal documents such as the contract of sale.
- Represent the seller to the buyer by responding to issues pertaining the sale.
- Exchange contracts with the buyer's conveyancer and receive money on behalf of the seller.
A guide to seeking professional conveyancing services
Since buying property is not an everyday activity, you may find it difficult to find an appropriate conveyancer. However, these tips will make it easy for you.
- The best way to find a conveyancer is through referrals. Ask friends, family, or colleagues who have previously used the service to recommend someone to you. If you have no one to ask, you can look for one online or request a real estate agent to recommend a person.
- Inquire what type of property the conveyancer specialises in. Ensure that he or she is adequately versed in the kind of property you are buying or selling.
- Ask the conveyancer whether he or she has membership in the Australian Institute of Conveyancers. If not, do not consider them any further.
- Finally, ask about the fees to be charged, how long it would take for them to settle, and how they intend to communicate.
Professional conveyancing services make it easy to buy or sell property. For a fee, the legal component of property transfer is handled to the client's satisfaction. Referrals are the best way to get a conveyancer, however, ensure that he or she is licensed, has knowledge on the property you wish to buy, is licensed, and charges within your limits.