Real estate is an ever growing market, and if you’re new to the industry, you will come across a lot of terms that you need to be familiar with. One of these terms is conveyance or conveyancing. It is a process that you will encounter when transferring ownership of property from one entity to another. The person who does this is called a conveyancer.
Conveyancing includes dealing with banks, the council, and other aspects that may make the transfer of ownership complicated. Without a conveyancer, it will be hard for you to address issues that may arise during the process.
What does a conveyancer do?
A conveyancer is a professional individual who is in-charge of a range of responsibilities. He/She focuses on ensuring that everything that is needed to make the transfer of property ownership as smoothly as possible is in place. With professional experience and know-how, a conveyancer will be able to explain to you in detail on what documents to prepare, when to submit them, and how to transfer titles.
What are the risks of not getting a conveyancer?
Given the importance of a conveyancer in moving property ownership, there are obviously risks of not getting one. If you’re into buying and selling property and we’re talking about hundreds of thousands of dollars, it is best to get a conveyancer instead of skipping this step just to save some cash. Doing conveyancing on your own is possible, but carefully check if what you can save from commission fees and other charges will make up for your chances of getting more from your investments.
Another risk of not getting a property conveyancer is that with terms and procedures that you’re not familiar with, handling them may take a lot of your time. But if you hire a conveyancer who understands what transfer of property ownership entails, everything will be done accurately and quickly.
Also, getting a conveyancer is important especially if the sale is a difficult one. Conveyancing includes dealing with banks, the council, and other aspects that may make the transfer of ownership complicated. Without a conveyancer, it will be hard for you to address issues that may arise during the process.
There are several factors involved when it comes to conveyancing in Australian, that is why it pays to weigh the pros and cons carefully before starting the conveyancing process. By knowing the benefits and risks, as well as your preferences and financial situation, you’ll be able to come up with the right decision for your property.
Do you know other things to consider when getting a property conveyancer in Australia? Share your ideas in the comments section.