Cheap Conveyancing – Should Consumers Be Wary?

In the excitement of closing on a new piece of property, you may be tempted to rely on cheap conveyancing or a buyer’s kit to manage the title transfer of your property. While this method may seem like a low-cost solution to a serious legal process, cheap conveyancing may come at a heavier price than you are expecting. Since conveyancing transactions take place often, they may be disguised as simple, easy-to-manage tasks that anyone can perform. Conveyancing transactions can be quite daunting and complex, and taking these legal processes into your own hands may be more involved than you think.

What is involved in conveyancing transactions

Most conveyancing transactions involve two major phases: an exchange of contracts in which the equitable title passes, and completion in which the legal title passes. These phases include steps that will need to be taken before the contract, before the completion, and after the completion. A buyer of property must obtain a marketable title to the land and confirm that a seller is the actual owner and has the right to sell. There are many factors that could impede a mortgage or a resale, and it requires research and access to records to make sure these factors do not exist.

In the end, proper conveyancing ensures the buyer can secure the title to the land along with the rights to the land. The buyer must be aware of any restrictions or complications in advance of the purchase. Conveyancing is perhaps once of the most important aspects of a real estate deal, and a mistake or missing information could be very costly for a buyer.

How to ensure seamless conveyancing transactions for my purchase

Selecting a lawyer or legal entity to facilitate the conveyancing transactions for one of the biggest and most important purchase you will ever make is just good business sense. Companies like Owen Hodge Lawyers have not only the legal expertise, but also the years of experience to ensure seamless conveyancing transactions for a successful closing on your valuable property. These lawyers are licensed conveyancers that understand the law and the ramifications in failing to do research. By relying on expert lawyers in the system of land registration, in which access to important public records is permissible, purchasers are assured of responsible, legal, and successful real estate closings.

What can I expect from a licensed conveyancer?

A licensed conveyancer is versed in the complexities of various state and council laws. You can expect a licensed conveyancer to take four to six weeks for a fixed price, to provide a series of important services including record searches, legal advice, error free documentation, and proper language and signage. A typical conveyance usually includes these services at a minimum:

• Arranges for Payment of Charges and Fees
• Checks that Land Tax, Rates, and Water Consumption Charges Are Paid
• Ensures that Special Contract Conditions are Met
• Researches Encumbrances or Restrictions on a Property
• Prepares Legal Documents
• Title Searches

By selecting a licensed law firm such as Owen Hodge Lawyers to carry out your conveyancing transactions, you gain confidence in expert services, ongoing support, and a secure long-term relationship to manage potential issues before they arise. You benefit from legal advice and possible advantages by entrusting lawyers who are versed in the law for your state or territory. These professionals can assist with the unexpected or unknown:

• Issues with parties who wish to modify or negate the contract
• All three levels of government mandates are followed
• Valid information retrieved from state and local authorities
• Variations in the laws between each state and territory

Relying on a cheap conveyancer will not likely result in the level of service and support you require, and a cheap conveyancer will not have the time to dedicate to your unique real estate endeavor. Property transactions are generally too complex to manage on your own, and you may not want to depend on anyone less than a legal expert.

What is a licensed conveyancer likely to find?

With the expert assistance of a licensed conveyancer, access to critical records is perhaps the most important reason you may decide to spend a little more for a comprehensive analysis. A standard search package should include the following in order to ensure there are no issues that could disrupt the acquisition of your potential property.

Searches of:
• Building Units
• Company
• Contaminated Land
• Council Property
• Full-Council Inspection of Records
• Group Titles Plan
• Land Tax
• Main Roads
• Registered Plan
• Titles and Check Titles

These various types of searches can uncover unforeseen issues that could be resolved before you close. However, if these searches are not performed, you may run into issues well after closing that could lead to costly resolution. Other problems that might arise involve unexpected surprises on the final walkthrough, or irreversible errors in your legal documents. You can be certain your documents will be error-free and in perfect order when you are working with a seasoned professional that specializes in accuracy. Let the experts handle your real estate transaction while you focus on your new home or business property. It may be important to keep in mind that lawyers’ fees, requirements, and searches vary from state to state depending on local property legislation, etc.

While it may be true that cheap conveyancers offer a price that could save you money, the risks are high. In the long run, it may cost your more. You will not likely receive the personal attention, comprehensive consultation, or legal advice that you deserve for your real estate transaction. A cheap conveyancer often quotes their price to include only the legal transfer of title, and they may expect strata checks or dealings with the banks to be done by the customer. Secure a quote from Owen Hodge Lawyers before you decide how to proceed. A timely, well-thought out approach to your next investment property may be a worthwhile choice. Value over price is a valid option when it comes to closing on a lifetime real estate purchase.

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