What Is Conveyancing?
If you want to buy or sell a piece of property, whether a house or piece of land, important documents and money have to exchange hands — usually the hands of a seller and buyer.
If this is your first time buying or selling a property, you might need to learn the ropes and get some help facilitating the purchase or sale. Conveyancing is the process of transferring the ownership of a property from a seller to a buyer. It is facilitated by conveyancers and conveyancing solicitors. Here's what you need to know:
Are You the Buyer?
You, of course, have to identify the piece of property you want to purchase first and find out how much it costs. Once you do, it would be in your best interest to contact a conveyancer or conveyancing solicitor.
Conveyancers and conveyancing solicitors differ in that the latter is a lawyer who can represent you in a court of law if required. Both can still help you with a property purchase, but if you realise that there might be some legal problems that need to be settled in court, you may be better off hiring a conveyancing solicitor.
What Can Conveyancers Do for You as a Buyer?
Since you may not have the experience or knowledge required to do thorough research on a particular property, it is best to leave such work to professionals. If you are unlucky, you might end up making a poor investment and losing your hard-earned money.
A conveyancer will conduct all the research required to verify that the property in question is free of risk and that your investment is secure. The conveyancer will also engage with the seller on your behalf to ensure that all the required documents are present, filled out correctly and signed.
If you are financing your purchase through a financial institution, a conveyancer also helps you get a good deal to avoid any expensive surprises.
What Can Conveyancers Do for You as a Seller?
As a seller, you might be busy running other important businesses and may not want to be interrupted by buyers who are not serious. Conveyancers can receive calls from buyers and weed out superficial buyers. Additionally, they can also ensure that you receive the full amount from the buyer without delay. It is not uncommon to come across a buyer who might delay payment, which may not be good for your financial plans. A conveyancer helps eliminate such occurrences.
Conveyancers will also represent you in meetings. The only time you might be contacted is if your signature is required or if there is a question that only you can answer.