Conveyancing is a necessary form of law that deals specifically with land ownership, and there are conveyancing lawyers who specialise in helping people to buy and sell real estate. The mysterious world of conveyancing can be a daunting prospect for a first-time buyer, which is why you are advised to seek out an established conveyancing lawyer, who will work on your behalf to ensure that the property you wish to buy is free from any legal issues.
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Source an Established Conveyancing Law Firm
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Whether you are looking for conveyancing solicitors in Brisbane or Sydney, the best way to locate such a law firm is with a Google Search. One of the duties of a conveyancing solicitor is to interpret into understandable English, the contents of the legal documents, making sure that their client fully understands the commitment they are about to make.
Carrying Out Property Searches
The conveyancing lawyer would recommend a number of searches to be carried out on the property, which will reveal any legal restrictions, or whether or not the property has any debt associated with it. There could be restrictions on the removal of trees on the property, or people might have a legal right to access their land via your property. The lawyer would advise you on the types of searches to be undertaken, and with their expertise, you will only have to search for things that might be relative to that specific property.
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When a buyer and seller have reached a verbal agreement, the seller draws up a contract of sale, which will be carefully examined by both the buyer and seller’s conveyancing solicitors. A copy might be faxed to the buyer’s lawyer, or the two lawyers might use the telephone to establish that both copies of the contract are identical. The exchange of contracts involves the buyer making the agreed deposit with their lawyer, who then sends it to the seller’s legal counsel, and a with a completion date set, the exchange of contracts sees a legally binding agreement that must be completed within the agreed time frame.
Completion of the Sale
The average time frame for completion is 8-10 weeks and your lawyer would keep you informed of the progress, usually by phone or SMS. Once the balance has been paid, the title would be amended and the property title is transferred to the buyer. The conveyancing solicitor will ensure that all is above board and that their client is not at a disadvantage, and should he fail to carry out the right searches, you, the new owner, could be left at a disadvantage that could cost you thousands of dollars.
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If you are planning to acquire a property in the near future, you will need the services of a good conveyancing solicitor, who can easily be found with an online search. Once you have enlisted the help of an established law firm that deals in conveyancing, you can be rest assured that your best interests will be at the forefront of the lawyer’s mind.