A conveyancing solicitor is essential if you are looking to buy or sell a house. They will help you navigate all legal issues, minimize (or eliminate) mistakes, and keep you informed about everything that is happening.
Conveyancers specialise in property law, so they have a deep understanding of the legal aspects surrounding buying and selling homes. They are also very focused on client relations.
Selling or buying a property
To ensure that all legalities are met, both the buyers and sellers will need to hire conveyancing solicitors once they have agreed to purchase or sell a property. These can be a long and complicated process, so it’s important to choose the right solicitor for you.
It is important to find a conveyancer as soon possible. This can save you a lot of hassle later on, as well as making sure you don’t miss any important steps.
The conveyancer will open a file for your and complete all necessary identity checks. This will require you to provide photo identification, such as a new-style driving license, a utility bill, and a bank statement that includes your address.
Once all the queries and issues have been resolved your conveyancer will send over all of the paperwork for exchange of contracts. This is when the sale officially becomes legally binding.
Leasehold property buying or selling
The purchase of a leasehold property is usually an appealing option for buyers as it’s cheaper than buying a freehold equivalent. However, it’s important to understand what the lease terms are before committing to one.
This type of ownership comes with a lot of risks. It’s worth checking to see if the land can be purchased as part the purchase price (also known as fee ownership). It’s important to find out the details of lease terms and landowner plans before making an offer.
It’s also important to know if there are any rent reviews and how often they occur, as these could impact your ability to get finance on the property.
You should choose a property that has at least 83 years remaining on the lease. This will allow you to extend it if necessary.
The purchase of a leasehold property is not as straightforward as buying an ordinary house, so it’s important to make sure you use a conveyancing solicitor for your sale or purchase. They will help you navigate the legal jargon, and support you throughout the entire process.
Selling or buying a freehold property
If you are buying or selling a freehold property, it is important that you choose a good conveyancing solicitor. They will ensure that the property is sold correctly and that you are protected from any unexpected issues.
They also offer many other conveyancing services melbourne, including essential local searches that your mortgage lender may request. These will include things such as planning permissions and previous building work.
You can find a good conveyancing solicitor by asking family and friends for recommendations or looking at reviews on their website. A firm that offers a fixed fee guarantee is the best, as you know exactly what you will be paying before you begin the process.
Selling or buying a share ownership property
If you are a first-time buyer or an existing homeowner who cannot afford to buy a home, shared ownership homes can be a great way to get on the property ladder. You can purchase a portion of a home through a housing association (typically between 25% and 75%), and rent the remainder.
Your housing provider must allow you to sell your shared ownership home within a specified time frame. This is to ensure that they can help another eligible purchaser onto the market, and if you are unable to sell your share in this time, you have the option of advertising it on the open market with an estate agent.
Whether you are buying or selling a shared ownership property, it’s important to understand the process from start to finish. Your conveyancing solicitors will help you through the whole process. They will carry out all the necessary searches on the property, such as those relating to the Local Authority. They will also analyse the contract from the seller’s solicitor to check that all the terms have been met and that everything is in order.