First-time homeowners can attest to the reality that going through the purchase process, which includes so many overwhelming details, can be a very daunting and tedious engagement. Buyers’ excitement are often dampened by legalities, from contracts to taxes, fees, and other regulation requirements. First-time home owners need all the help they can get to guarantee a smooth transition that is both hassle-free and meaningful.
This may be the right time for them to consider whether they could achieve more by working with a conveyancer. This read will help first-time home owners weigh their options carefully.
Do I Need a Conveyancer in Victoria?
If you are buying a property in Victoria, or anywhere else in the land Down Under for that matter, a conveyancer will always be a welcome help. Ultimately, professional conveyancers make the entire process easier, faster, and stress-free. These three adjectives alone ought to be enough to convince you to go for it. But let us explore the advantages of working with a professional conveyancer further.
A professional conveyancer’s goal is to help you close your home deal faster and in a smooth manner. They have the necessary skills and legal expertise to help speed up the process by making sure all your documents are in order. Additionally, they want to make sure that you get the best out of the negotiations you make.
Here are five things you need to ask yourself to determine whether or not you need a professional conveyancer:
- Do I have the time to comply with all the legal requirements to purchase a property?
- Do I have the patience to deal with sellers, real estate agents, and other individuals involved in the negotiation?
- Can I afford to pay a professional conveyancer?
- How much am I willing to spend to preserve my peace of mind throughout the purchase process?
- Can I trust a professional conveyancer to attend to the details of my purchase?
Looking for Conveyancers in Victoria? Check out these directories:
| Find Conveyancers In: | |
|---|---|
| Altona Meadows | Altona |
| Williamstown | Newport |
| Altona North | Seabrook |
| Laverton | Spotswood |
| South Kingsville | Seaholme |
| Brooklyn | Williamstown North |
Legal Considerations When Buying a Property
The most important thing you should consider as a buyer is if you can afford to buy the property you are eyeing. Apart from the actual purchase prices, there are other transaction costs you need to prepare for. Never go into a home purchase transaction blindly.
Here are some of the fees and charges you will encounter: - Bank charges - Inspection fees - Mortgage insurance - Professional fees (i.e. lawyer, conveyancer, etc.) - Transfer of registration fees - Valuation fees
Once you are fully convinced you are earning more than enough to afford a monthly mortgage, you can proceed and ask for the Contract of Sale and the Vendor’s Statement, the latter being a key requirement in Victoria. The Statement should clearly indicate details of the covenants, declarations, easements, mortgages, outgoings, and zoning.
As the Vendor’s Statement is a legal document, everything included in it should be factual. Otherwise, you can easily back out of the negotiation or deal. You can also seek legal remedies.
Meanwhile, the Contract of Sale should clearly state the details of the property and that of both parties’ lawyers or conveyancers. It should also contain your name and that of the seller. Also, the selling price, agreed amount of deposit, balance of the purchase, and settlement period should be clearly stated.
If there are other items included in the sale such as appliances and furniture, these should also be indicated as part of the purchase.
The next step would be for you to make an offer to the property owner and this should clearly state how much you are willing to pay for the property. This is the phase where negotiations will take place. Once you have a meeting of minds, you can make the deposit and have your lawyer or conveyancer attend to the rest of the details.
Are Conveyancers Lawyers?
Just to be clear about it - a professional conveyancer is not a lawyer. A lawyer, however, can be a conveyancer at the same time. Both lawyers and conveyancers are qualified to help clients with property transactions.
Professionally, lawyers have a wide array of expertise compared to conveyancers. They can mediate involving properties when a separation between owners happen, a death, or financial bumps along the road. The services of professional conveyancers, on the other hand, are limited to property transactions only.
Final Thoughts
Knowing what you know now after this read, hiring a professional conveyancer is probably the wisest thing you can do if you wish to proceed with your home purchase. EasyHome can make this experience smooth and stress-free for you with a little help from our line-up of highly qualified professional conveyancers. Send us a message for more details or give us a call.
