How to choose the best conveyancer to help you sell your property.
Conveyancers are either solicitors or companies accredited by the government to supervise the smooth transfer of a property between a seller and a buyer. Not all conveyancers are created equal, though, and it can be difficult to separate the good from the bad.
What is a conveyancing lawyer?
A conveyancing lawyer advises and acts on your behalf in matters of property law. The costs vary, depending on the amount of time spent on each brief but you can reasonably expect to pay somewhere between $700 and $2,500 for such service.
A conveyancer has a number of tasks to complete during the home buying process. At a glance, a conveyancers responsibilities include:
- Organising everything you need during settlement to ensure the sale is legitimate and you are getting everything you are entitled to.
- Checking and organising mortgage documents and the contract of sale. A conveyancer will check for clauses within the contract that may not be in the best interest of the purchaser.
- Carry out a title search on your behalf to make sure there are no encumbrances or other mortgages on the property before you go ahead and buy it.
- Organising a land survey for you to make sure the property is actually where you expect it to be as regard boundaries.
- Check with your local council to make sure the structure complies with council building regulations.
- One of the main jobs of a conveyance is to liaise between you and the lenders solicitor. By doing this they will save you time and be able to deal with the proceedings easily.
- Making sure the process is transparent. A conveyancer will explain every step in the home buying process and outline what your and their responsibilities are during this process.
Learning more about Conveyancing with Geri Forsaith from Sydney Property Conveyancing
Geri Forsaith from Sydney Property Conveyancing explains what a conveyancer is, what a home purchaser should look for in a conveyancer and how much it should cost to engage their services.
When will you need a Conveyancer?
It’s important to engage the services of a licensed conveyancer right from the moment you decide to purchase a home, but it’s helpful if you have an existing relationship with a conveyancing professional before that. If you have an existing relationship, you will have already made a judgement about the conveyancer's professionalism and quality of service.
Spotting a Good Conveyancer
A good conveyancer will:
- Perform a meticulous research on titles and records. If you are the buyer, this is extremely important. A good conveyancer will see to it that all areas are covered by looking out for dubious contracts or title deeds. As a seller, your conveyancer should be able to advise you if there are any government prohibitions, limitations or taxes concerning your property. A good conveyancer should be able to identify these things. Moreover, he should be able to clearly define the rights and obligations of both parties.
- Do the job in a timely and efficient manner. Property sales are often time sensitive, so a good conveyancer should finish the transaction efficiently and in a short period of time.
- Lessen the stress by giving expert advice. A good conveyance solicitor is someone who is proactive giving you expert and practical advice on what to do in every step of the process. He should also provide updates regarding the progress of the transaction and give you his personal number for any questions or problems that may arise.
- Be technologically equipped to keep up with the challenges. Conveyancing involves tracking down the progress of the transaction. A reputable conveyance firm should be equipped with systems to allow their clients to easily monitor and follow up the progress of the buy or sell transaction.
- Charge a fixed rate. When a conveyance solicitor gives you an hourly charge for his services, be very careful, because you might be paying more than necessary. A trustworthy conveyancer will charge you a fixed rate, which should include his basic and disbursement fees. Agreeing on a fixed rate will prevent any additional charges that could blow out your budget.
What about DIY conveyancing?
Since it involves lot of legalities and stages, the conveyancing process will be much smoother if handled by a person who has legal know-how. There are, however, DIY conveyancing kits available online. Deciding to handle conveyancing yourself can potentially save you money and time. It can also give you a sense of control, as you'll have firsthand knowledge of the progress of your transaction. The downside of handling conveyancing yourself, though, is that the process can be overwhelming and complicated, resulting in mistakes that could cost you more time and money than DIY conveyancing will save you.