Real Estate: Buying and Selling

Conveyancers handle the legal and financial processes involved in real estate transfers. Some property buyers and sellers often underestimate the value conveyancers bring to the property transfer process. If you hold this opinion, below is a piece with several compelling reasons to engage conveyancing services when buying property. 

Assessing the Property's Legality 

As a buyer, your primary concerns when purchasing property are its size, location, amenities, and architectural appeal. In most cases, the seller uses emotional advertising tactics to compel you to buy the property as soon as possible. For instance, during the home visit, they could show you how the property will enhance your family's lifestyle. For example, they could create a picture of how the kids will enjoy the property or how you have adequate space to host guests or prepare family meals. 

These tactics often make buyers forget the legal aspects of the exchange. For example, does the property build process comply with the building code? Does the seller have renovation and occupation permits? Do the details in the title document correspond with those at the land registry? Do the zoning regulations allow such properties in the area? Does the property or surrounding area have easements that could affect future land use plans? As a buyer, this legal jargon could seem boring and complicated. However, your conveyancer performs due diligence on the property and buyer to ensure you do not encounter legal issues or disputes after signing the contract of sale. 

Fairness 

Your conveyancer is a shield that protects you from underhand tactics by the selling party aimed at short-changing you during the transaction. For example, a seller could convince you to sign a contract of sale that does not have any contingencies. In this case, you do not have any legal reprieve if you find out that the property has structural or legal issues before completing the transfer. As such, you stand to lose your initial deposit. Likewise, the selling party could use the contract of sale to convince other interested parties to pay more for the property. In this case, you become a victim of gazumping. A conveyancer guarantees fairness in the transfer process by protecting your interests and ensuring the selling party complies with the conditions of the sale agreement. 

Mortgage Application

Although you might have an excellent relationship with your bank, you do not have any bargaining chips when negotiating mortgage rates and conditions. Conversely, a conveyancer has long-term relationships with banks since they recommend their clients when applying for mortgages. Therefore, the conveyancer is likely to secure lower interest rates and better repayment terms. It goes a long way in helping you make long-term savings as you buy property.  

For more information, contact conveyancing services near you.