A transaction involving real estate can be one of the most important transactions you ever undertake and professional residential conveyancing attorneys are able to help you with it. Understandably, you want to take the utmost care in these types of transactions which involve large sums of money.
Whether you’re selling or buying a property, it’s crucial to have an adequate team of professionals to help you get past each stage of the sometimes complex process. While many people think of residential conveyancing attorneys as useful towards to end of a transactional process, there are several key benefits to engaging their services earlier on.
Let’s take a look at the top reasons you need residential conveyancing attorneys.
Selling
If you have decided to sell a property, one of the first things you should do is get yourself a conveyancer or lawyer. It’s important not to wait too long hiring a conveyancer as you can’t complete the sale of the property without the Vendor’s Statement.
The Vendor’s Statement needs to be prepared by a lawyer or conveyancer, so it’s good practise to engage them to do this for you as early as possible. In many cases someone selling a property will also engage a residential conveyancing attorney to prepare a Contract of Sale.
The Contract of Sale is an important document that can take some time to prepare so it’s best not to leave this job until the last minute. Make sure that you engage your professional early in this process so they have adequate time to accurately prepare this important document.
Another good reason to get a residential conveyancing attorney early on in the selling process is because they can assist you with finding the best possible settlement date prior to any offers being made. They will need some time to facilitate the release of your mortgage with the bank if you have one.
The bank can often take more time to do this than people think. Those planning for an early settlement should prepare in advance for the requirements of the bank.
It may also be beneficial to hire a professional early on when selling a property under special circumstances, such as it being part of a deceased person’s estate. You will need to allow more time in order to get a Grant of Probate and you cannot set a settlement date until it is acquired.
A residential conveyancing attorney will also be able to help you with any special conditions and terms included in the Contract of Sale as defined by the Grant of Probate. Since selling a property can be so complex depending on the situation, a residential conveyancing attorney is best engaged early on so as to avoid any hiccups.
Buying
A property buyer will benefit from hiring reputable residential conveyancing attorneys prior to a contract being signed. It’s always a smart move to have them look over a contract and Vendor’s Statement so they can identify and intricacies you might not have noticed.
They may be able to find strange terms or conditions that you could not point out. They can make sure that all the details regarding the property, like planning restrictions or restrictive covenants are fully disclaimed. This can prevent you from buying a property and discovering that there is a proposal to build busy road in your backyard.
As is clear, there are several key advantages to hiring a residential conveyancing attorney to help you with either buying or selling. It’s important to be patient when engaging their services as they need adequate time to make sure that your transaction goes smoothly.
