Who is the Conveyancer When Buying a House? What You Need to Know
The term “conveyancer” is probably foreign to you, unless you regularly buy or sell a house . The term stems from the act of conveyancing, which is the action of legally transferring property from one party to another. A conveyancer will work on behalf of either the buyer or the seller, although the buyer sometimes finds more benefit of using such services. That may be because the seller usually engages with a broker or agent, and the legal requirements and knowledge of the process may be a part of their responsibilities. Buyers are generally less acquainted with the process, this is where a conveyancer is key. That leaves two questions, who is the conveyancer when buying a house and should you consider contacting one?
Should a Conveyancer be Considered?
Buying a property, updating or revising a property title and other property legalities will demand paperwork, filing, legal and licensed professionals and many other procedures. There may be some outside the legal and real estate professions who are familiar with the process, the jargon and the necessities of such transactions. Even for those few individuals, the time, energy and effort required may make the decision to utilise a conveyancer a smart one.
To the majority of people who aren’t familiar with the legal process of conveyancing, reaching out to a conveyancer may be more of a necessity. These are a few of the reasons why a conveyancer should be considered:
- Legal Preparation – There are forms to be obtained, documents to be signed and other conditional paperwork specific to each type of transaction. Having someone with the knowledge and know-how to navigate this process will save time, money and headache.
- Property Evaluation – The buyer and seller will negotiate price in most instances, but it is the valuable information provided by the conveyancer that can make the difference. Providing information and advice about the property and the purchase will better equip buyers to get a fair deal.
- Settlement – The very last signature at the settlement stage is arguably the most important. At this point everything will be verified, double checked and then – finalised. Having the experience and understanding of a conveyancer is an irreplaceable comfort and assurance at this point.
What Does the Conveyancer Do?
So what exactly does a conveyancer do, what is their role in this process exactly? The answer to that is multi-faceted, as the conveyancer wears many hats. A conveyancer acts as a mediator, legal secretary, advisor and a translator!
The conveyancer on behalf of the buyer will represent the buyer’s interest and communicate with the necessary parties involved. This can be beneficial when legal documentation is in question or when time constraints become a burden. Part of those translation skills come into play here as well, which we will discuss shortly.
The amount of paperwork required to buy and sell a home can seem daunting. So many forms and strange terms. Different agencies that need to be contacted or ordinances that need to be checked, and the list goes on. Getting the right paperwork, contacting the necessary parties and properly handling all those forms can be overwhelming. This is simply part of what a conveyancer does, and why you will appreciate having them.
Perhaps one of the most important aspects and benefits of having a conveyancer is their role as your advisor. They will offer more than their years of experience and thorough understanding of the process. They will research the title, locate and advise of any issues and guide you through every step.
This might sound a bit odd, until you read the fine print of that 2nd page of the land contract, or try to decipher the language of that easement release form. So much of buying and selling homes and properties is wrapped up in legal jargon, and it is hard to understand what you can’t read. A conveyancer will break legal jargon down into layman terms, so you understand what is being said and so you know what you are signing. That is rather important, right?
Lawyer and Licensed Conveyancer
Two options are viable for anyone buying or selling a home, a licensed conveyancer or a lawyer. Note, lawyers who solicit conveyancing work have all the legal capacity to act as a conveyancer, but be mindful that some of them may not have experience as a conveyancer.
Regardless of which way you decide to go, just be certain that you are dealing with either a reputable legal professional or a licensed conveyancer.
The Simple and Smart Answer
Should you consider contacting a conveyancer? Well first off, congratulations on your decision to buy or sell a home, this is an exciting time. Now, the simple answer to the question is, yes. Not only is the decision to use a conveyancer a simple one to make, it is also a smart step to take. Do your homework, talk to friends and family and research your options before choosing a conveyancer.
Purchasing a home or property is a considerable expense, getting the help and resources to make it a worthwhile expense isn’t optional. Work with people who you feel comfortable with, who you can trust and who will guide you into the comforts of your new residence.
If you didn’t know what a conveyancer was before you decided to buy that new home, you’ll be happy to know who they are before, during and after your move.
So, are you ready to talk to one of Titlexchange’s conveyancing team about how they can get you to settlement? Book a call with one of our friendly team now.