An important member of your home buying team should be a property lawyer, or conveyancer. They can provide invaluable advice to you during property purchase process. Simply said, there is no buying a home without their help.
Before you’ve even signed an offer, a lawyer can help you with the due diligence to decide if this is the house that you want to buy. They will consult with you on conditions of the sale and purchase agreement, perform title searches and, if you decide to proceed with an offer, can communicate with the vendors lawyers on your behalf.
During the settlement process, your lawyer will coordinate with the bank to ensure all the documents required for your home loan are received. They are also responsible for transferring the ownership of properties from the vendor to you, as the buyer.
Lawyers may also be able to assist with disputes between the seller and buyer, including adjusting of costs at the last minute.
Below are some of the most common questions that a lawyer is asked when it comes to property purchases:
During the process of finding, reviewing, and purchasing your home, you may need to see your lawyer several times before finally arriving at settlement day. Based on this, you may want to consider the costs involved when weighing up whether to pay a fixed price or opt for a lawyer who charges by the hour.
The fixed price option may initially seem expensive; however you’ll be surprised at how quickly the hourly cost will add up, even more so if this is your first time buying a property, you may have a lot of questions during this process. It would likely be much more cost efficient to obtain a fixed price quote from your lawyer for their services as opposed to working with a contract that is charged per hour. See the useful links below for more information relating to working with a lawyer or let us know if you require a recommendation for legal services, as we will be able to refer you to one.
Yes, Tella have partnered with a few property lawyers who can offer their services to you at a discounted, and fixed, rate. Get in touch with us today and we'll happily provide you with more details.
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