Selling or buying a residential property, one thing is for sure… A transfer of ownership is in order, and you’ll need to make sure that the transaction will run as smoothly as possible, without causing any issues for either of the parties. Regardless of which side of the transaction you’re on, it’s in your interest to have it completed successfully.
This legal ownership transfer is called conveyancing, and it’s further explained here: https://www.realestate.com.au/advice/how-conveyancing-works/
What Is Residential Conveyancing?
Being new to this whole world, you may be wondering what residential conveyancing specifically is, and whether it is actually a necessary step in buying your home, or in selling it for that matter. Important questions, without a doubt. And, getting your answers will shed more light on what this process entails and how it precisely works.
Basically, conveyancing is the branch of law concerned with the transfer of the legal title or property from one person to another, or with granting a mortgage. This branch of law deals with preparing all the necessary documents for the conveyance process, making the transfer possible. The process of buying or selling a home is impossible without this, meaning that conveyancing is undeniably a necessary step in the whole procedure.
Do You Need a Solicitor to Do It?
Buying or selling a home is difficult enough even without this. You have to find serious buyers, or choose the home of your dreams, depending on what side of the transaction you’re on. And that’s just a part of it. Adding conveyancing to the mix means that this procedure can become even more complicated for the parties involved, which is why hiring solicitors is often the best move for everyone. If you click here, you’ll realize what those solicitors can do for you.
Now, if taking out a mortgage on a property you’re buying, most lenders will require you to appoint a solicitor. On the other hand, if taking out a mortgage is not your plan, then you may be able to do this alone. Although, as we’ve made it clear already, the process is quite complicated in itself, meaning that while you may not need a solicitor, you may still want to hire one, to make sure everything is completed the right way.
So, Should You Hire One?
Understanding when working with these professionals is required and when it is a choice is important. What happens, though, when it is a choice and you don’t know how to make it? Put differently, if this is not a requirement, then you’re most likely wondering whether you should actually hire a conveyancing solicitor.
The short answer is yes. Working with these professionals is always a great idea for numerous different reasons. First and foremost, if you’re buying, they’ll research the properties you have in mind in great details, making sure that there are no legal issues that could hinder the transferring process. They’ll also handle all the other important legal aspects, such as, for example, the ability to get planning permission in the future, should you decide to do some renovations.
Getting locked into a mortgage that isn’t exactly favorable and being, well, doomed to deal with it for years and years to come is one of the worst scenarios imaginable that could happen in the buying process. Among all the benefits of hiring conveyancing solicitors, the fact that they will organize the finances and fight for the best deal is high on the list of important ones. They’ll make sure all the expenses are clearly outlined, in addition to preparing all the necessary documents that will be required during the transferring process. So, clearly, hiring these pros is definitely the right thing to do, whether buying or selling.
How to Hire the Right One?
The key is, of course, in hiring the right conveyancing solicitor for you, and doing your research before choosing is, therefore, a must. Checking the level of experience of those you’re considering, as well as their reputation, will certainly help you make up your mind. Furthermore, interviewing a few candidates before choosing will give you a clearer idea on how well you’ll be able to communicate with them, as well as how capable they’ll be of completing everything successfully, while keeping your best interests in mind. So, do the research and then hire the right person.
