Are you asking your conveyancer the right questions?
Knowing just what to ask a potential Sydney conveyancing specialist could very well be the difference between success and failure. Buying a home is already a very stressful time. Even though enjoyable, both parties need to make certain that everything is fully understood. That is why it is important to have a professional handle the legal paperwork.
Keep in mind that this transfer of property can be legally performed in three manners: by a solicitor, a conveyancer, or even by you. It is a very detailed process so before you make a decision here are some things to consider.
Conveyancer or solicitor?
It is important to know the difference before making a decision. A licensed conveyancer will generally only hold the specific license for conveyancing and dealing with a property purchase, sale or transfer. These individuals are not lawyers and are not qualified to practice legalities on your behalf. A solicitor is a qualified lawyer and will be able to offer legal advice on other matters if needed. If there are no legal issues at hand, a conveyancer would suit you fine.
Fee vs. time?
Ask about fees in the beginning as doing so will save a huge amount of misunderstandings in the future. Request a breakdown of any and all fees or costs associated with their service. Also do not be afraid to also ask for a breakdown of what you are to receive in exchange for those fees being charged. Make certain whether any governmental fees or charges for length of settlement will be added as well. Lastly, ask if any of their fees are negotiable. You may be surprised with the response.
One of the first questions to ask is if your conveyancer is a member of the Australian Institute of Conveyancing [AIC]. Get to know them as you will be working fairly closely until the process is complete. Get some background information from them and make sure that they are licensed.
Plan B option?
Every Sydney conveyancing specialist will have a Plan B for a client. Ask what yours would be. What happens if the other party dies before the process is final? What happens if tenants remove to move? What happens if the property is damaged or destroyed? There needs to be extensive explanation of what will happen in the event the unexpected were to happen.
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