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When Should I Appoint a Conveyancer When Buying a House?
In Australia, “conveyancing” is the legal term for buying and selling property. A conveyancing lawyer Brisbane is a trained specialist that understands the legalities of buying property, and it’s their job to manage the process on your behalf. For the most part, a conveyancer ensures that your new home is correctly transferred into your name and that it’s not subject to any special encumbrances.
In most cases the process of buying and selling property goes smoothly. But, when hundreds of thousands of dollars are involved, it’s essential to get the details right. Once you’ve appointed a conveyancer, they’ll accompany you on your property-buying journey to provide the advice and services you need. With their help you’ll be able to avoid the common pitfalls and minimize the risks that come with buying property.
Do I Need a Conveyancer?
There’s usually no legal obligation to hire a conveyancer when buying a property. However, buying a property is a complicated process, and a mountain of legal paperwork comes with it.
While you can get DIY conveyancing kits, the time and expense of preparing the documentation yourself often far exceeds the amount you’ll spend on a professional conveyancer. Plus, if you go the DIY route, you’ll be liable for any mistakes you make, meaning you aren’t protected from any of the risks that come with buying a house.
It’s essential to speak to a conveyancer before signing any contracts. Contracts often contain hidden details that can go unnoticed if you’re unsure what to look for. Your conveyancer will be able to provide advice about the contract and help you make an informed purchase decision.
When Should I Appoint a Conveyancer?
It’s always recommended that you appoint a conveyancer as soon as possible for most people. That means finding a conveyancing service before they begin their house-hunting journey. Australia’s property market moves extremely quickly.
If you want to avoid missing out on opportunities, you’ll want to have your conveyancer waiting in the wings. That way, you’ll have instant access to their services if you find a house you like and want to make an offer!
Before you appoint a conveyance, you need to do your research. Recommendations from family and friends can be useful, but don’t do business with the first one you meet. The best way to choose a conveyancer is to look for someone with lots of industry experience. Experienced conveyancers have seen it all, and they’ll be your best resource for avoiding the risks that come with property buying.
How Can a Conveyancer Help?
Conveyancers play a critical role when you’re buying a home. They mainly manage the purchase process and ensure the property is properly transferred into your name. Along the way, they’ll provide other services, such as researching the property title to look for encumbrances like easements, covenants and other restrictions.
While an encumbrance doesn’t need to stop you from buying a property, it can greatly change the way you use the land, so it’s important to have all the details before you sign the contract. If everything with the sale looks good, then your conveyancer will manage the settlement process and ensure the money is transferred properly.
Appointing a conveyancer early on means you’ll be able to access a huge range of services as soon as you need them, including:
- Purchase contract advice;
- Property title research;
- Checking for encumbrances;
- Managing the trust account that’s holding your deposit;
- Calculating rates and taxes;
- Handling the settlement process;
- Representing you in dealings with the vendor or real estate agent.
Appoint a Conveyancer When Buying a House: Pre-Purchase Contract Review Services
You can’t buy a house without signing a contract, and you need to know precisely what you’re getting into before putting your name on the page. Pre-purchase contract reviews are the most important service offered by your conveyancing lawyer Brisbane.
Purchase contracts can be full of little hidden tricks and clauses that will affect you, so it pays to have yours reviewed by a professional. In most cases, the seller will be required to disclose encumbrances such as covenants, but the details of these things can get buried in the contract.
Your conveyancer will read and interpret the contract and can advise on how you should proceed, potentially saving you from purchasing a property that doesn’t meet your needs.