Enlisting the services of a professional conveyancer is an essential part of any property transaction. So, when is the best time to contact a conveyancer? It is recommended to engage a qualified conveyancer whenever you are buying or selling a property, buying an apartment or house off the plan, updating a title, subdividing land or seeking advice regarding land tax, titles and stamp duty in Melbourne and surrounds.
What is property conveyancing in real estate?
Conveyancing is the legal process of transferring ownership of a title of land to a new owner (purchaser or buyer), whether it be from a person or entity. A licensed conveyancer is a person who oversees and manages the actual transaction and the preparation of any legal documents required for the transaction. A conveyancer must also ensure the documents comply with legal regulations in your state or territory.
Conveyancing in Victoria is a complex process including various financial, administrative and legal duties, and an experienced conveyancer will help you navigate these complexities while providing sound knowledge and advice to help you avoid any potential pitfalls.
A conveyancer in Victoria is involved in preparing or reviewing a sales contract, home loan, and other related documents needed when someone is buying or selling a home, land, or investment property. There is a significant amount of work involved in this process, and it is therefore recommended to seek the services of an experienced conveyancer.
Should I engage a conveyancer in the pre-purchase stage?
Before purchasing a home or investment property, a buyer or seller must consider various factors and ensure that critical details are not overlooked. For buyers purchasing a property, a conveyancer can provide support with pre-contractual advice and searches. A conveyancer can prepare all the necessary paperwork, liaise with your lender, calculate settlement amounts and attend settlement on your behalf.
The purchase and transaction of a property to a new owner generally consists of three stages:
Enlisting an experienced conveyancer during the pre-contract stage ensures that you are prepared with professional support and advice for when the time comes to sign the contract of sale.
Gaining contract advice is an essential step in the purchase process. Legally binding contracts generally have financial consequences, and many property contracts contain special conditions for buyers. Seeking professional advice prior to signing the contract will verify any issues around boundaries, planning restrictions or legal issues which can considerably alter the potential of a property. This will also protect you from financial loss and protect your legal rights.
Right Choice Conveyancing can provide support during the pre-purchase and contract stage by offering:
- Standard contract checking to verify, review and suggest changes to the contract of sale to support your current and future interests
- Preparation of Section 32 Vendor Statements
- Pre-sale legal advice, compliance information and gathering information from authorities
- Draft legally compliant contacts of sale that best protect your interests
- Ensuring the settlement date is realistic and that other dates and obligations can be met
- Providing support with complex negotiations or drafting special conditions
- Fact-checking and protecting your interests
Before buying or selling, one must fully understand the terms of any real estate contract and get expert advice from a conveyancer regarding your particular property. Along with multiple legal sections and clauses, buyers also need to consider the property’s realistic current and future conditions.
Right Choice Conveyancing acts as a resource when negotiating your sale and aims to work swiftly with buyers during the negotiation process to finalise the purchase and ensure all fine print is read, understood and adhered to.
Can I change conveyancer before settlement?
Due to a number of reasons, a buyer or seller may decide to change conveyancer midway through a sale or before settlement. Depending on what stage of the process you are in, it could be a simple move or a more difficult endeavour. Generally, earlier in the transaction is a simpler time to implement a change.
First, you may consider an attempt to resolve any issues by voicing or elevating any concerns. If that doesn’t resolve the issue, then before proceeding you need to determine if there is any additional cost due to the delay caused by transferring to a new conveyancer. You will also need to investigate whether you are liable for and need to pay for labour already completed and ascertain how the paperwork and funds will be transferred to a new conveyancer.
To avoid changing a conveyancer during the already demanding process of buying or selling a property, it is recommended that you do your research to ensure you select the best, most experienced conveyancer for the job.
Finding an experienced conveyancer
For first home buyers, the purchase and settlement process can be daunting and complicated. The Right Choice Conveyancing team is here to provide you with knowledge, support and the best advice to protect your interests and avoid any potential issues.
Right Choice Conveyancing offers the full range of property conveyancing for residential and commercial property to both buyers and sellers. Finding and securing an experienced conveyancing team at the earliest stages of your property search and transaction will make the process more efficient.
Contact us today to learn more about the conveyancing process or engage our services. We look forward to hearing from you!