What Is a Conveyancer’s Role in a Sale of a Property?
For many, selling a property is hands down one of the most significant transactions that they will ever undergo. Those on the other side, are potentially facing one of the biggest expenses they’ve ever made. This is why it’s so important for both parties to get everything in order from the get go.
It’s also why many sellers may be tempted to try to do things on their own. Sure, nobody knows every nook and cranny of your home or property quite like you do, but a professional in the field will most certainly know a little more when it comes down to selling it.
What is a conveyancer?
A conveyancer is your main guide along your quest to buy or sell a property. They’re essentially there to explain the depths of things, transfer a property from the buyer to the seller, and make sure things are in everyone’s best interests along the way. They are usually appointed by the seller, but paid for by the buyer.
What is the main role of a conveyancer?
One of the primary roles of a conveyancer is to plan and draw up all of the legal information for your property transaction, such as writing out a “Contract of Sale.” This contract should cover any special needs or requests the seller or buyer might have to avoid any future conflicts.
Another important role of a conveyancer is to provide what’s called a “Vendor’s Statement, essentially helping to ensure that the seller meets all disclosure obligations and laws within their state or territory.
A few other examples include performing and organising searches and paperwork, offering legal advice, arranging the final stages of the settlement and organising the key handover.
Does it matter if I hire a lawyer, conveyancer or a solicitor?
Both lawyers and conveyancers are qualified to help when it comes to selling or buying a property, however, their specialisations often differ.
Lawyers generally have a far broader range of expertise, making them the ideal person to hire in more complicated scenarios. However, not all lawyers are familiar with property transactions, so be sure to enquire about this if you do go this route.
Conveyancers specialise solely in property transactions, likely making them the ideal person to hire should your case be more straightforward rather than complex.
Lastly, some might choose to hire a solicitor rather than a lawyer or a conveyancer. A solicitor usually holds a more general level of knowledge when it comes to law, whilst also specialising in conveyancing.
It’s also important to note that some solicitors call themselves conveyancers and vice versa, so make sure you know what you’re getting and therefore what you can expect.
Is the most expensive choice always the best choice?
When it comes to making a choice between the three, it’s good to bear in mind that a solicitor won’t be nearly as affordable as a conveyancer. To keep things at their most affordable, it’s probably best to go with either a qualified lawyer or conveyancer – especially if your situation isn’t complicated.
In addition, when it comes to a fairly straightforward property transaction, you probably don’t need the extra services that come with a lawyer or solicitor. Whichever you decide, always ask questions before hiring anyone and make sure that they are fully qualified for the job.