Conveyancing is a process referring to the transfer of a property from one owner to another the legal way. This involves the whole process from exchanging contracts until the new owner moves into the property. Conveyance requires a lot of legal processes before it gets completed.
It could be a complicated task for those without experience in conveyancing but with a conveyancer, everything will go smoothly for both you and the buyer. How does a typical conveyance process go? Read along to learn and know more about it.
Get a Solicitor
When you have decided that you want to sell a property, the first thing you need to do is to find good conveyancing lawyers Melbourne to help you through the process. Orient them first about the specifics of your property for sale so that it will be easier for them to deal with potential buyers. Once you found a potential buyer, they will be the ones to handle most of the work especially on the legal side of your sale.
Once your solicitor gets a copy of the title and contract of your property, they will see to it that everything is clear to them by asking questions to the seller. This is to make sure that there will be no negative or adverse issues that might affect the sale of the property. They will also check if everything is in places such as rights, permissions, and many more.
Keep Your Mortgage Secure
Your solicitor needs to know all the detailed information about your property for sale since it is essential when you’ll be applying for mortgage. That way, both the solicitor and lender can confirm the same information, preventing the lender from questioning and reconsidering their offer. Your conveyer will then deal with all the legal actions needed to secure your mortgage.
After all the processes above, your conveyancer will then give you a copy of all the essential documents needed for your sale – from the property information form, mortgage deed, title, and a lot more. However, before everything comes to this stage, there will be thorough inspecting, enquiring, and money laundering checks to be sure that your property for sale is clean. The client also needs to provide a payment deposit which will be paid during the contract exchange.
Once everything is settled and clear between the seller and the buyer – from searches, inquiries, legal papers and funds, the two parties can now set a date on when they will complete the deal and exchange contracts. Your conveyancer will then complete all the processes that is needed to be done such as arranging funds and setting final searches.
If you have a property for sale whether it is residential or commercial, hiring a conveyancing lawyer to help you handle the entire process is definitely worth it. Aside from making things smoother and more convenient for the seller, you can also be sure that the process will proceed in a faster rate.