Friday, July 1, 2022
HomeFinanceBuying and Selling: How Property Conveyancing Can Help You

Buying and Selling: How Property Conveyancing Can Help You

When you picture a real estate investor there are a couple of images that immediately spring to mind: rich, old men furnished with generational wealth and clad in pinstriped suits.

The image that springs to mind is sort of an unholy melange that lands somewhere in between the monopoly man and Donald Trump. 

Are you in the market for a new home? Or perhaps you’re looking to sell, and then buy.

Whether you’re upsizing, downsizing, undertaking a sea or tree change or buying for the first time, it’s always exciting. The prospect of a new home and new memories is fun.

But there are many things to consider when buying and selling real estate. Things such as disconnecting and reconnecting utilities, dealing with the bank or broker, changing schools and more.

That’s why you should engage some conveyancing services to assist with the legal mumbo jumbo and paperwork that comes with buying and selling property.

In this useful article, we’ll explain how property conveyancing can help you in this task.

They Deal With the Technical Stuff
A conveyancer can navigate the legal aspects of real estate for you, to save you the headache.

For example, if your property has an easement on it, this could make selling your property a bit tricky.

An easement means that another party can access your property, for instance, the water company may have pipes under your property. This can prevent extensions or renovations. 

A conveyancer can research to see if there are easements on your property and provide advice on what to do if there are.

They Look After the Paperwork
A conveyancer will look after all the paperwork related to buying and selling real estate. They will prepare and lodge the legal documents required to sell your home, such as the contract of sale and/or the memorandum of transfer. 

The contract is especially important, as it needs to benefit the seller while also being fair to the buyer. A conveyancer will make sure this process is simple and smooth. 

Title or Property Search
When buying a property, your conveyancer will conduct a title search or property search, and issue a certificate. This certificate will give details about the state of the title, including measurements, as well as details on the current owners and any dealings to do with the property. 

They may also collate other documents pertinent to the property, such as planning restrictions, road access information, zoning regulations and more.

This is particularly useful if you are planning to develop the land, as it needs to be zoned correctly and not subject to any restrictions. 

Calculate Rates and Fees
When you are buying a home, the vendor may have already paid the council rates or water bill for the period when you will own the home. In this case, the conveyancer will calculate the portion of these that you need to reimburse the vendor for and adjust the final settlement amount to reflect this. They can also do this for you if you are selling your property. 

Attend the Settlement Meeting
Your conveyancer can attend the settlement meeting, where the lenders will be present, to ensure that the paperwork is lodged correctly and the settlement occurs without a hitch.

They do this when buying and selling real estate, so often at a settlement, both parties’ conveyancers will attend. 

A Conveyancing Conclusion
We’ve covered how property conveyancing services can help you when buying or selling real estate. A conveyancer will look after the legal documentation, and other paperwork required.

They can conduct a title search, which is helpful if you’re buying property. They will also calculate any rates and fees that vendors are owed at settlement, as well as attending the settlement meeting to ensure that everything goes smoothly.

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Source: Information, Drawings and Images
All article information is sourced and available for review from referenced locations.

– Information and Images supplied.

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