Buying a new house is often an exciting time for first-time home-buyers, though the process can be intimidating as it can look like a minefield of legal knots, paperwork, and expensive out-of-pocket fees along the way.
The process between the offer on the house down to when you receive the keys can be tricky as it involves various financial and administrative duties, which is where hiring the right conveyancer comes into play.
A professional conveyancer can help oversee the final stages of your property purchase, which allows you to steer clear of potential pitfalls along the way. While investing in a conveyancer is not required by law, having one by your side ensures a smooth-sailing journey towards your dream home.
WHAT IS CONVEYANCING?
Think of conveyancing as the last dash to the finish line in the home-buying process. By definition, it describes the transferring ownership of a legal title of the land to the new owner – be it from a person or entity. Consequently, the passing of a property consists of three stages:
- Pre-Contract
- Pre-Completion
- Post-Completion
It can be a highly complicated process, which is why hiring a professional to help guide you through the conveyancing trial can make a world of difference in your overall experience.
WHAT IS A CONVEYANCER?
A conveyancer is a licensed professional that is responsible for providing advice and accurate information regarding the sale of a residential property. They don’t necessarily have to be solicitors, though their training allows them to conduct the same tasks.
With that in mind, a conveyancer ensures you can submit all the requirements at critical dates during the process. In addition to keeping you up to speed, they are also tasked with dealing with the other party’s lawyers to smoothen any potential issues.
While you can save a few hundred dollars by handling the dirty work yourself, having a conveyancer by your side can save you the trouble of losing the property and 10% of your deposit in case anything goes wrong in the process.
This is because a conveyancer comes with professional indemnity insurance, which means you can seek some form of coverage in the off-chance your dealings fail to close correctly.
WHO SHOULD HIRE A CONVEYANCER?
Anyone who is traversing the real estate landscape can benefit from having a professional conveyancer as their guide. This includes those who are buying or selling a property, subdividing land, updating a title, registering, changing, or removing an easement.
The process may seem like simple paperwork at first glance, but a lot of painstaking detail, documentation, and back-breaking effort happens when legally transferring property ownership. First-time home-buyers may be stuck in the process for weeks, but a professional conveyancer can prepare, clarify, and lodge legal documents with better efficiency, reliability, and speed.
IN CONCLUSION
Hiring a conveyancer can help you unlock the doors to your dream home faster as they are responsible for helping you navigate the tricky waters of the settlement process in home-buying. In addition to managing your legal documents, they can also represent your interest with a vendor and handle your financial institution during the final stages of payments.
While you have the option to undertake the tasks yourself, having a trustworthy conveyancer by your side can make a world of difference in getting a better deal for your future home.
If you are looking for residential conveyancing lawyers in Brisbane, contact GLG Legal today! We’re happy to help.
