The Benefits Of Hiring A Conveyancer
Conveyancing deals with the legal details of buying and selling property. More often than not, prospective property owners are often conflicted over whether they should hire a conveyancer when closing real estate deals. Below are a few compelling reasons why you should hire a conveyancer when buying property.
Getting Value For Your Money
Most property buyers get disappointed when they realise that they got less than what they bargained for. However, this should not be the case if you engage an experienced conveyancer. Once you show interest in a property, the conveyancer will appraise the property to ensure it is priced within market rates. The conveyancer will also request a home inspection to determine whether the property requires any repairs before you move in. For example, the property could have a shifting foundation, salt damping, pest infestation, clogged drainage or leaking roofs. If this is the case, the conveyancer will ask the seller to reduce the asking price or repair the property before the closing date.
Avoiding Legal Liabilities
The property must abide by the local laws. Otherwise, you risk prosecution. The conveyancer will assess the property documents to ascertain the legality of the development. For instance, they will examine zoning regulations to ensure that the area is zoned for such developments. The conveyancer will also ensure the builder followed the local building code and the strata bylaws. If not, you may have to renovate or pull down the property. Most conveyancers will have professional liability insurance that protects you from legal liabilities caused by errors and omissions on the conveyancer's part.
Conveyancers understand the buyers and sellers want to close the deal in the shortest possible time. There are several ways in which a conveyancer can help you save time as you buy the property. Experienced professionals have long-term relationships with local council officials and building surveyors. As such, they can assess property documents within a few days. Most buyers do not know which loans they should apply for and the banks that offer low-interest rates. Consequently, they spend too much time researching and making numerous loan applications. A conveyancer will assess your situation and advise which loan products serve you best. Besides, the conveyancer will contact the bank and apply for the loan.
When hiring a conveyancer, conduct some due diligence to ensure that they have a licence to operate in your state and membership to a professional conveyancing association. Additionally, check internet reviews to assess how the conveyancer treats their clients.