By Lacey Payne
When purchasing or buying a property it is important to take appropriate steps in collating your documentation and affairs to ensure a smooth end to end process. Engaging a professional to take care of your conveyance will be beneficial to your legal transaction ensuring any issues are resolved quickly and thoroughly. Although this process may seem straight forward at first, there are numerous things that can go wrong during a conveyance, even after settlement.
Common issues that can arise when conducting any conveyance include:
- The bank not being able to settle in time
- The appropriate searches not being completed
- Outstanding taxes and rates on the property not being paid
- Transfers being rejected as they are incorrect
- Unregistered easements
- Dealings transferring with the land without your knowledge or agreement
These issues may be mitigated when engaging a solicitor to handle your conveyance. The conveyancing process incorporates the solicitor firstly, reviewing the contract and advising any additional terms that should be inserted or terms that should be removed, advising of important due dates, advising what they need from you to commence the conveyance, conducting searches, corresponding with the other side’s solicitors, proving advice to you, preparing transfers and corresponding with the bank and organising settlement. This will ensure selling/purchasing your property is fairly straight forward.
I believe that “you are better off safe than sorry”. I strongly recommend anyone who is about to sell/buy or is currently going through a sale/purchase and has not sought professional advice, do so, if anything, for peace of mind. This should be an exciting experience, not one that you regret because something simple was missed; it is better to leave this to the experts.
If you would like any further information on conveyancing, contact Bruce Thomas bruce.thomas@btlawyers.com.au
