What Does a Conveyancer Do for the Seller of a Home?
If you’re planning to sell your home this year, have you thought about all the legal hurdles you’ll have to overcome? The paperwork alone can become overwhelming to a point where mistakes might occur handling everything yourself. Even if you’ve heard about friends or family taking on conveyancing duties on their own, it’s not a good idea doing this on your own without legal guidance.
Hiring a truly experienced conveyancer or lawyer means you’re going to have a trusted advocate looking out for your welfare. The buyer of your home should hire a conveyancer or lawyer to assure the property transfer is a smooth one.
Perhaps you know what these advocates do for buyers, but what does a conveyancer do for the seller? This is maybe the first time you’ve had to sell your home while mistakenly thinking you can sell without complications.
Now that you’re on this road, a lot of things could go wrong without a conveyancer guiding you.
Here’s what could potentially happen, and what the conveyancer does exclusively for you, the seller.
Completing All Documents With the Department of Land Services
Not properly completing or filing your house-selling documents with the government can lead to some major repercussions later. It could frustrate not only the buyer of your house, but also lead to governmental fines.
Errors and other discrepancies only make the final settlement process more tangled and confusing. It’s just a small example of why you shouldn’t attempt conveyancing on your own.
Considering documents like the vendor’s agreement and contract of sale need complete accuracy in language and detail, it’s better to have a legal expert put them together. Semantics are extremely important in these documents. Any misunderstandings could bring future (and expensive) repercussions.
One of the things your conveyancer researches is the certificate of title. When doing a title transfer, this can take a lot of time, especially when searches require hours of time.
Your conveyancer also does searches in government department databases to find anything potentially affecting the sale of your home. It’s possible you have encumbrances or other caveats, all things your buyer wants to know about. Without listing these in your vendor’s agreement, the buyer may complain about house issues you didn’t mention. Any mortgage debts not listed creates just as much legal turmoil.
Communicating With Agencies About Zoning and Titles
While the above research by your conveyancer occurs on their own time, they may put in other time communicating with agencies about zoning issues. It may require enquiries about your house title as well if transferring a title to a buyer, or a family member.
These situations become equally complex, especially with family involved. If someone in your family who owns your home dies, it’s going to mean updating a house title. Plus, it may involve creating a power of attorney during the transfer.
Don’t deal with house title transfers and powers of attorney on your own due to the legal language involved. A legal conveyancer knows how to work appropriately with title transfers for a peaceful transition. The conveyancer frequently works with the buyer’s conveyancer to assure things go right.
Ensuring Special Conditions in the Contract
Another example why a conveyancer should create a sales contract comes in possible special conditions. Since these people usually liaise with the buyer’s own conveyancer, it’s important to know what they want in the contract. Without agreeing on the contract, it’s impossible to finalise the settlement.
It’s possible the buyer wants to negotiate on the loan payments, or has specific demands about repairing things in the home before officially settling. In this case, it connects to your vendor’s agreement where you list anything about the home the buyer should know.
Both the agreement and contract need expert writing to assure clarity and truthfulness.
Communicating With Financial Institutions for the Settlement
As the seller, you may have your banking system ready to go in formulating a buyer settlement. However, the buyer may not, requiring some communication from your conveyancer. They’ll work with all financial institutions autonomously to work out issues with payments and money transfers.
Consider two different banks may require communication with one another to make payments go through, it’s going to require a middleman. Thanks to the conveyancer being your advocate, it’s going to mean a settlement occurring sooner than possibly months later.
Preparing and Attending Your Settlement
The final step for your conveyancer is preparing a settlement statement that agrees to all terms. It may feel like you’ve climbed a mountain, yet the time it takes for a settlement could take a long time without help.
Most importantly, the conveyancer attends the settlement when everyone signs on the dotted line. In a case where you can’t attend, the conveyancer is there to represent you like a lawyer.
Book a call with one of our conveyancing specialists today and learn more about how we can get you to settlement in the most efficient and professional way.