Legally, you don’t need to hire a conveyancer when selling your property. But it is important to get legally sound advice on your property sale, as tonnes of things can easily become tricky.
What is property conveyancing?
If you need to handle a matter related to the legal transfer of property or land, there are a few rules that you should be aware of. These include checking for any restrictions, documenting the transaction, and taking precautions or performing due diligence. Property conveyancing covers:
- Pre-Contract: This includes preparing legal documents, such as the Contract of Sale.
- Pre-Completion: This process covers mandated tasks like title and planning searches.
- Post-Completion: This stage includes ensuring that the new buyer receives the keys.
Without a conveyancer, you have to carry out all the vital tasks in those three stages. So ask yourself, do you really have the time, knowledge and resources to perform all those tasks well?
Why shouldn’t you sell a house without a conveyancer?
Whether you’re selling your primary house, rental property, or commercial building, it isn’t a good idea to do it without a conveyancer. There are two things you have to consider: cost and time.
“Do-it-yourself” conveyancing seems tempting, but the complexity of the real estate law can easily lead you to trouble that could cost you far more than a conveyancer’s fees. That includes property disputes in the future if you fail to carry out proper title searches pre-completion.
With fixed conveyancing fees and expertise to help you avoid costly complications, many conveyancers or real estate lawyers in Australia make their legal services highly cost-effective.
Handling conveyancing matters on your own often take a lot longer than expected. That’s because you don’t only need to deal with the buyer or their representative, but you also have to read and understand all the documents, including any special contract conditions that the buyer wants to include. That could lead to delays or legal errors that may put the property sale at risk.
Also, if you’re relying on the house sale to buy another property, you’ll have to manage the timing of both transactions. That way, you won’t be left out of pocket or without a house. There are many other reasons why a conveyancer is the best option for selling a property. Some of these reasons include:
– Conveyancers have the legal authority to conduct searches, issue notices, and make decisions on behalf of the body corporate.
– They are able to prepare and lodge title documents with land registries in most states.
– They can also assist with legal disputes and provide advice regarding ownership of land.
– A conveyancer can also help you negotiate on your behalf when dealing with other parties, such as buyers or tenants.
Experienced conveyancers can help you review, negotiate and finalize the sale price and terms. They can track every financial transaction and process legal documentation. Plus, they have the knowledge and skills to review legal documents and perform due diligence on your behalf.
What are the benefits of hiring a conveyancer?
To wrap up, here are the key benefits of hiring an experienced conveyancer when selling a property. A conveyancer will help:
- Prepare legal documents, including the Contract of Sale, and ensure special conditions are included and met
- Conduct title and planning searches to ensure you meet all the disclosure requirements, according to the local law
- Track the settlement process and ensure the sale is legal
- Facilitate a land survey to guarantee accurately represented property boundaries
- Assure compliance with local building regulations
- Represent you in negotiations with the buyer or their representative
Got more questions about conveyancing? Don’t hesitate to reach out to us today.