There are different types of property that you can buy or sell such as residential and commercial properties. You may even be interested in the purchase or sale of a piece of undeveloped land. Different types of properties require a different set of procedures to be followed in order for the property to be transferred.
You may decide to handle a purchase or sale transaction on your own, but it can be very tedious and time consuming. This is because you may not be experienced in handling such a transaction. In addition, there are many documents and processes involved, and there are legal obligations that you are required to satisfy. You are therefore better off hiring a property lawyer in order to ensure your transaction is handled accurately and that it satisfies all the required legal aspects.
Conveyancing Assistance When Buying Property
If it is your first time to purchase property, it is a good idea to hire property conveyancing services. There are several documents that you will need to prepare in order to successfully complete the transaction. Your property lawyer will prepare transfer documents so that the property can be legally transferred to you. He will also look through the contract of sale and the vendor’s statement and will highlight important aspects of the document that need your attention.
The lawyer will also assist you in getting financing for the property and providing all the documents required for the mortgage to be finalized. Your lawyer will organize the settlement and ensure that the payment has been done and that the keys to the property have been handed over to you.
When selling property, your lawyer will prepare the contract of sale and will include all the special conditions that are required to avoid any conflict with the buyer. He will also prepare a vendor’s statement which includes disclosures that are to be made to the buyer. A search therefore has to be made on the title by the lawyer to get all the necessary details that will need to be included in the vendor’s statement. He will make sure that the title is clear and that any mortgage that is tied to the title is removed.
Your lawyer will give the contract of sale and vendor’s statement to the buyer. He will receive the transfer document, settlement statement and statement of adjustments from the buyer. He will finalize the settlement and will inform the water authority and the council that the property has been sold.
Fees That Are Paid During Transactions
The purchase or sale of any property involves the payment of various fees which your lawyer can make on your behalf. When buying property, you need to pay fees when searches are conducted and registration fees on the mortgage and transfer. There is also a stamp duty that is paid on the transfer and fees that are charged on the required certificates. If you are selling a property, you need to pay fees when conducting searches and you will pay fees for certificates. Able Defence Lawyers have the best property lawyer who will provide you with excellent legal advice to ensure that your transaction is completed legally and accurately.