Are Conveyancing Professionals Worth the Investment?
When purchasing a home, conveyancing professionals are the people that will help you to transfer your new property into your own name. As simple as this sounds, this transfer process can be complicated and extremely time consuming, as it involves numerous documents, legal processes and arrangements. A good conveyancing professional will make sure that this process is smooth and completed in a timely manner.
What Does A Conveyancing Professional Actually Do?
A conveyancing professional will begin by drawing up documents. These documents are called transfer documents and are used to make sure that the property is transferred to the buyer in the correct legal manner.
They will also complete a lot of the legal work including scrutinising documents for you such as the Contract of Sale. Often these documents are complicated and written in ‘lawyer speak’, however your Perth conveyancing professional will be able to point out any terms that you should be aware of, especially anything out of the ordinary. They will ensure that there are no outstanding property liens, taxes or demolition orders. Also, the conveyancing professional will check and follow up important inspections that need to take place during the purchasing process, such as pest and building inspections. By scrutinising these documents and checking that the correct inspections have taken place, they could be saving you a lot of time and money down the track…imagine if there was a major structural issue with your new home and you didn’t find out until you had purchased the property! You could be potential up for thousands of dollars in repair costs.
A conveyancing expert also has access to all data bases required to ensure utilities and rates can been apportioned appropriately, between the buyer and the seller, according to the settlement date. Doing this correctly is important because being out by even a few dollars can delay settlement.
Finally, one of the biggest jobs of a professional conveyancer in Perth is arranging details on and around the day of settlement. They will coordinate a good time for settlement on the allocated day and deal with the bank to ensure funds are in place to pay the vendor. Once this is organised, the conveyancing professional will then contact the seller’s real estate agent to finalise details such as passing over the keys…this can all be completed by your conveyancing professional while you are finishing packing those moving boxes!
What About A DIY Conveyancing Kit?
You may be saving a few dollars using a DIY conveyancing kit, however it will definitely cost you valuable time. With no experience, the process can be long and complicated. Without industry knowledge and expertise, you run the risk of missing vital information due to not understanding the technical terms used in documentation. Also, if something is missed or a mistake is made that causes a delay in settlement, you could be liable for delayed settlement interest fees.
When you have made the decision to purchase a home, you have decided to invest a lot of money. It is absolutely worth spending a few more dollars to hire a Perth conveyancing professional to save you time, ensure you don’t miss any vital information and streamline the whole sale process.