Purchasing a new home is a tedious process. Since it requires a large investment on your part, enlisting the services of experts is a must. You will encounter a number of them as you progress from viewing homes to paying closing costs.
Sometime between looking at homes and choosing one to purchase, you will need a specific type of expert to manage the transition. A conveyancer undertakes such duties on your behalf. You will be entrusting much to this expert so understanding all that a conveyancing service entails is necessary. To do that, you need to ask the right questions.
Solicitor or Conveyancer
Many people tend to confuse these two terms. Solicitors are qualified lawyers who, in addition to having a brokerage, have extensive training in many aspects of law. They can provide you with legal services that may come in handy while being engaged in the home buying process. A conveyancer focuses primarily on real estate. They need to be a member of the Council for Licensed Conveyancers. It should be noted that a solicitor can also be a licensed conveyancer.
The Conveyancing Questions You Need Answering
Conveyancing is a service that many are familiar with but very little really understand. When you find yourself needing one, it’s best to make thorough inquiries. Asking the right questions not only provides a concrete idea of what you’re getting into but also ensures that the person you’re hiring is fully capable as well.
1. How long does house conveyancing take?
On average, conveyancing may take anywhere between 8-12 weeks.
2. What documents do I need to prepare?
Once you’ve communicated your wishes to your conveyancer with regard to the property you want to buy or sell, ask what documents should be prepared. If you’re selling this could include inspection reports and an initial draft of the contract, which a solicitor can prepare for you.
3. Is it in the contract?
The conveyancer you’ve hired will help you navigate through the maze of jargon usually found on real estate paperwork. When reviewing the specifics of the deed of sale, you can ask if certain items you like from the house you’re purchasing are included in the contract. Remember, you may be seeing that entertainment system or antique furniture displayed while viewing the house, but that doesn’t automatically mean it’s included in the sale.
4. Is the zoning as advertised?
This might seem too obvious to get wrong. However, it’s always best to err on the side of caution. Double check with your conveyancer to ensure that zoning limits are as advertised. If you’re looking to demolish an existing property or purchasing off a plan, it’s best to know all zoning possibilities and limitations before contracts are exchanged.
5. Is Professional Indemnity Insurance necessary?
Professional indemnity insurance ensures that you can claim for damages if something goes wrong during the conveyancing process.
6. Do you offer support once the process has been completed?
Getting support even when the process has been completed is vital, thus, throwing the question beforehand can pay dividends. It’s good to know that your conveyancer can help out with settling any outstanding matters you may have that are related to the purchase of your new home.
7. How much will the entire service cost?
The last question on here but certainly not the least important. Knowing how much conveyancing costs beforehand gives you time to make the necessary financial preparations. Having the figures available allows you to work in the cost of this particular service into your existing budget, if you have not set aside an amount specifically for this purpose.
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