Conveyancing, or the transfer of property from one party to another, is not as easy as many people think. If you're going through this process as a buyer you would do well to consider hiring a conveyancer, no matter the price of the land and even if you're purchasing it from a friend or family member. Consider how and why a conveyancer can protect your rights through this process.
1. Property searches can be arranged
A conveyancer can perform property searches that protect you in a number of ways. One is that they can ensure that the property is owned free and clear by the seller, so that you don't find out about liens or other debts on the property after the purchase.
Local searches can alert you of any changes that might affect your property. For example, if a company is planning on constructing a new motorway, that might be too close for your comfort.
This might also alert you to any flood risk, so that you can ensure you have flood insurance in place. This search can also tell you of what would be included in local water hookup requirements and drains that may affect your property. An environmental search can tell you if the property was built over a preexisting landfill as well.
2. Surveys can be arranged
Surveys of your land may be required for any type of mortgage lender, as they need to ensure that the valuation of the land covers the mortgage amount itself. Along with a survey of the land, you would need a building survey to ensure all building materials are up to code and if there are repairs that are needed. A conveyancer will be familiar with the types of surveys that are recommended for the type of property you're purchasing and arrange to have these done.
3. Contracts and deposits are arranged
Typically there are deadlines that need to be followed when it comes to contracts, and a deposit is usually required for the purchase of any property. A conveyancer will understand the legal requirements of preparing these contracts and of handing over a deposit to a seller.
This will protect your rights as a buyer since you will have the deposit sent as required, and know that you can get it back if the seller cancels the sale. You can also be assured that the contract is worded properly so that there are no hidden costs or other surprises in your property purchase.
Learn more how you can benefit from conveyancers by contacting some like Ray Swift Moutrage & Associates.
Share16 March 2015
My name is Jeanette Kennan. I have been a high school legal studies teacher for many years. As such, I am fascinated by legal cases I come across in the media. Family and friends often consult me about minor matters related to the law and although no expert, I can often point them in the right direction. It occurred to me that there may be other people out there who are not aware of basic legal issues. After all, you probably don't think about legal matters related to death, accidents or crimes until you find yourself in a crisis situation. This blog is designed to give you some introductory information about a range of legal topics. Hopefully, it will help you to be prepared and informed should a legal concern arise. I really appreciate you breaking in to my humble little site. Please enjoy.