There is nothing more exciting than buying your very first home or property. Of course, before the keys are handed over to your dream home, you will first need to negotiate all the legal paperwork that comes with the purchase of your family's brand new home.
To make the entire home buying purchase process as stress-free as possible, it is highly recommended that you engage the services of a conveyancer to assist with the legal aspects of buying property.
If you have never purchased property before, then you are probably not familiar with what a conveyancer does and the services that they provide. Thanks to our friends at Fastrack Conveyancing, we have some of the answers to the many questions that you may have when it comes to conveyancing.
What is conveyancing?
Put simply, conveyancing is the legal process of transferring the title or ownership of land from one person (or entity) to another. Conveyancing usually takes place between the property Vendor (Seller) and the property Purchaser (Buyer) who enter into a Contract of Sale for a particular residential property. The residential property can take a variety of forms, including vacant land, a house, a unit, an apartment, a home and land package, or a townhouse.
Why do you need a Qualified Conveyancer?
Due the complex nature of the entire conveyancing process, it is important to employ the services of a qualified conveyancer (or legal practitioner) to act on your behalf. The use of a qualified conveyancer who has experience and knowledge in the process means that the necessary steps are taken to avoid any potential pitfalls in the conveyancing process.
A qualified conveyancer is a person (or company) that currently holds a valid Conveyancers Licence and holds professional indemnity insurance. When it comes to selecting a conveyancer it is important to engage one that has extensive experience and up-to-date knowledge around the laws and processes involved. Employing a qualified conveyancer certainly assists in a smooth outcome to the purchase of your brand new home.
What does a Conveyancer actually do?
The role of a conveyancer is to assist you in understanding your rights and responsibilities whether you are a buyer or seller of property. If you are purchasing property, including any of Metricon's home and land packages, the role of the Conveyancer is to review and provide advice on the Contract of Sale and Vendors Statement in relation to your land. Once the contract has been signed, the Conveyancer will then generally do searches on the property and check any Title restrictions or encumbrances, as well as speak to your financial institution to ensure that finance approval is in order before the final handover takes place.
As with any other legal process, there are many steps involved in the conveyancing process and laws, timeframes, financial and government requirements and fees to work through. It is also usually an emotional - as well as stressful - time for first home buyers as buying your very own home is an exciting but daunting process. The role of the conveyancer is to make the process of purchasing the land for your brand new dream home as smooth and hassle-free as possible.
The team at Metricon are also ready to help you out with any other questions that you may have on your way to your brand new home. If you have any questions about our home designs or home and land packages please contact us today.
The images that appear in this post were taken at our Langdon 28 display at Blakes Crossing Estate, Blakeview, South Australia.