Selling off your property and buying yourself your dream home can be both a thrilling and daunting task. While you might be eager to settle in your new home hurriedly, there’s a mountain of paperwork you’ll need to take care of first.
Thus, unless you’re an established lawyer or have enough free time to work out the nitty-gritty of the property transfer, you’ll need to hire a licensed conveyancer. However, you might be unaware of who conveyancers are and how they can help you.
Read on to understand the job and responsibilities of a conveyancer.
What Is a Conveyancer?
Simply put, a conveyancer is a lawyer who specializes in the legalities revolving around the trade of property.
Thus, when you’re buying or selling a property, you need to ensure that the conveyancer you’ve hired is licensed and adequately qualified in their field to streamline the sale process. This essentially ensures that the legal rights of both parties are duly protected.
Their Primary Responsibilities
The responsibilities of a conveyancer involve handling all the paperwork and legal documents. Thus, the process of conveyancing involves a lot of complex paperwork and formalities that can be confusing for the average person.
For this purpose, conveyancers are trained to handle all the essential documents needed to complete your transaction. To start off, they search the title of your property to ensure that the clauses stated in the documents comply with the legal regulations of your country.
This guarantees that the property will be rightfully transferred to you without any legal complications.
Reviewing the Terms of the Contracts Involved
Along with ensuring the legal validity of the contract, conveyancers also pay heed to the wording of the terms stated. If there isn’t a professional who can analyze whether the terms are favorable for you, you might likely get caught in a scam while moving into your new place.
Thus, if you’re interested in buying or selling a property, make sure the property services you opt for have your best interest in mind. This is because it is possible for you to come across contractors that are unreliable. Thus, a skilled and trustworthy lawyer will double-check any forms handed out by the seller to clarify any confusions that might arise in the transaction.
Making Financial Adjustments
Your conveyancer is also responsible for making any financial adjustments during the process of purchase or sale that you are legally entitled to.
Thus, they will ensure that you don’t end up paying an unnecessary sum of money to the other party and that all your financial problems are cleared by the end of the transaction.
Arranging a Settlement
Finally, the conveyancer will bring both parties together by organizing and attending a settlement. Furthermore, the conveyancer will get in touch with your bank so that you can promptly make the payment to the selling party. Thus, during the process of a settlement, the relevant paperwork and cheques will be delivered, allowing you to move into your new home.
These are the basic details you need to know about conveyancers. While you may manage the things needed for your property on your own, an experienced conveyancer will undertake all these responsibilities mentioned above to ensure that your real estate transaction is conducted without any setbacks.