Carrying out a transaction from start to finish can be easy or quite complex depending on the type of transaction that is to be carried out. A transaction that involves the buying and selling of property can get complicated if the correct procedures are not followed. From conducting a detailed search of the title to the final settlement, transfer of property has to be handled carefully.
If you are the buyer, you do not want to end up with a property that is in dispute as this can land you in court procedures that you did not anticipate. Even when selling property, there are legal obligations you need to meet and you therefore need to know what they are. A property lawyer is there to walk you through the process of transferring property to ensure that it is done correctly and efficiently.
Why You Should Use A Property Lawyer
If you are intending to buy a property, you can decide to handle the entire transaction on your own. You will however need to hire a property conveyancing professional if you are taking out a mortgage to purchase the property. This is because mortgage lenders feel more secure about property transactions that are handled by an experienced conveyancer.
Conveyancing refers to the legal and administrative processes involved in transferring property from one party to another one. As a buyer, you need to negotiate a mortgage and interact with the seller of the property. These can be handled by your property lawyer who understands the details of property purchase and will therefore guide you on what to watch out for. Whether you are buying or selling property, the lawyer will ensure that the transaction meets all the legal regulations that must be followed in that locality.
Importance Of Searches In Conveyancing
Conducting a property search is important as it provides vital information on the property. You can carry out a property search on your own but you may end up missing out on some crucial searches. A property lawyer is well versed in conducting searches and will therefore know the searches that must be conducted in order to protect your interests.
If you are a buyer, the lawyer will check whether there is a mortgage attached to the title and will request the seller to remove it. He will also check if there are future developments that are proposed in the neighborhood of the property. He will check whether there are outstanding rates on the property. He will ensure that you will only pay bills and rates from the date of purchase of property. As a seller, a search will provide you with the information that you need to disclose to the buyer since this is a legal obligation.
Legal Advice Provided By The Lawyer
After a search has been conducted, the property lawyer at Able Defence Lawyers will provide you with the legal advice that is relevant to your circumstances. For instance, there may be conditions in the title which may prevent you from further developing the property. The lawyer will explain to you the implications of these conditions so that you can make an informed choice. These implications are based on the property laws of your locality.