When you buy a house, you’ll meet a few important people. Solicitors, estate agents, and conveyancers are all terms you’re likely to hear, but what exactly do they perform, and why do you need them?
The Agent
It’s helpful to think of the buyer’s agent in the same way you would think of a property wingman. Consider working with a real estate professional right from the start of your search.
You can rely on them to guide you through every step of the way, from research to purchase:
- Offer insights about local real estate markets
- Educate you about the various ways you can buy a product (e.g. auction, private treaty)
- Make a list of potential houses that you’re interested in.
- Take you on property inspections and showings as needed.
- They’ll work with the seller on your behalf if an inspection reveals a problem.
- Ensure that you don’t get caught up in the enthusiasm and make a wrong judgement by acting as your sounding board at auctions.
Once you’ve found a home you want, have a real estate agent negotiate a better price on your behalf. A skilled buyer’s agent will be able to tell you details about the neighbourhood, such as average house prices, public transportation availability, demographics, and planning rules, from their extensive knowledge of the local market.
The Conveyancer
To help you with the paperwork, a licenced conveyancer is there. If you’re selling a house, they can help you with the paperwork and settlement procedure.
Some states in Australia enable you to use a licenced conveyancer instead of a lawyer to handle your paperwork. Engaging one of these professionals should be done well in advance of signing any contracts or commencing negotiations for the purchase of any real estate.
- All the heavy lifting for settlement is done by your conveyancer:
- All necessary legal documents, such as the sale contract and the transfer memorandum, should be prepared, reviewed, and filed.
- When it comes to property inspections, conveyancers handle everything.
- The contract of sale should be examined for any omissions or loopholes.
- If you have any questions or issues about the vendor’s statement, please contact us.
- To guarantee that everything is in order, conduct a title and certificate search on the property.
- Negotiate a deal with everyone involved.
It’s possible to hire a conveyancer or an attorney in most states and territories in Australia. In Queensland and the ACT, on the other hand, you are required to consult with a lawyer. As with a conveyancer, you’ll want a solicitor ready to go before you begin the process.
There are a few things to keep in mind before making a decision:
- Conveyancers are less expensive than solicitors, and they can help you with simple acquisitions.
- In contrast to a conveyancer, a solicitor has a more comprehensive understanding of the law and can provide advice on matters outside the scope of a typical conveyancing transaction, such as the tax consequences of a property purchase.
- When it comes to more complicated sales, a solicitor is better suited.
- In order to get your hands on your ideal home or investment property, you’ll need to factor in the expense of working with these experts into your entire budget.
Help is at hand: With the help of one of our knowledgeable and competent professionals, you can receive assistance throughout the whole home-buying process tailor-made for your needs.
