How a Conveyancing Lawyer Can Help You

04/09/2018

How a Conveyancing Lawyer Can Help You

Ideally, conveyancing should be a simple process. If there’s a willing buyer and a willing seller, they should simply exchange money and change the property titles. But this isn’t the case, as there are many transactions involved that make it a complicated process. For this reason, it’s recommended that buyers and sellers seek assistance from conveyancing lawyers in Melbourne when making transactions. This article discusses the role of lawyers in the conveyancing process.

 

 

 

 

 

 

 

The Conveyancing Process

Conveyancing is not a simple ‘give and take’ process. Rather, it involves a series of transactions. Understanding the process will help you better understand the role of a conveyancing lawyer:

  • Title searches –The purpose of title searches is to ascertain that the real owners of the property being sold are the ones listed on the title deed. Besides listing the owners of the property, the title deed contains other essential information such as the official description of the property. If you’re not thorough in this step, you risk being deceived by dishonest sellers.
  • Checking restrictions on the property – Before you buy property, it is essential to establish whether there are any restrictions that limit how you will use the property. Examples of such limitations are heritage listings and easements.
  • Ensuring stipulations – Next, you should ensure that the other party fulfils their stipulations in the sale contract. For example, if the seller is required to repair the property before selling it to you, make sure this is done before paying for the property.
  • Dealing with financial matters – If you’re the buyer, ensure you have an arrangement for any outstanding financial burdens such as land tax, council rates and water charges. If you skip this step, you’ll have to pay the outstanding debts once the property is transferred to you.
  • The final step – The last step is to prepare all the legal documents necessary for the transfer of the property.

The Role of Conveyancing Lawyers

Now that you know more about the conveyancing process, it’s easier to understand the role conveyancing lawyers in Melbourne have. Here are some of the areas where they can assist:

Guiding Clients

A conveyancing lawyer leads their client through every step of the process. You may realise that almost every step of the conveyancing process described above has possible complexities. For example, some sellers may hide certain details. Conveyancing lawyers know the in and outs of the process and can therefore provide guidance and advise their clients on all the steps they need to take.

Enforcing Contracts and Sealing Loopholes

Conveyancing lawyers go through all contracts to seal any loopholes that could lead to exploitation of their clients. Remember, most parties involved in the buying and selling of property barely know each other. They’re only brought together by contracts signed during the process, so it’s important for a lawyer to ensure your protection.

Protecting the Interests of Clients

Beyond the buyer and the seller, there are other parties involved in conveyancing. These parties include banks, escrow agents, local authorities, insurance companies, mortgage brokers and tenants. Conveyancing lawyers in Melbourne defend the interests of their clients from these other parties.