Buying property and stepping up the proper ladder is exciting, motivating and fulfilling. However, it could be overwhelming for first-time buyers. They could feel there is a lot to take care of, and the legal process could be daunting. That is where conveyancing Melbourne law comes in; to take the weight off your shoulders.
What is conveyancing?
It is the legal process through which property is officially purchased and the title transferred to the buyer, by the seller.
Who can handle conveyancing?
Conveyancing involves a third party who handles the complex legal work associated with transferring property. It can be a solicitor, who has received full training to handle legal services, or a licensed conveyancer, who has specified in practicing only conveyancing Melbourne law.
What value does a conveyancer bring?
If you are a first-time buyer, chances are you have not heard of a conveyancer before. So, it is essential to understand what services a conveyancer offers. A conveyancer will;
- Handle all the paperwork such as drawing up contracts
- Conduct legal research on the land, house or any property you are willing to buy
- Offer advice and organize property searches
- Liaise with the mortgage lender
- Be responsible for dealing with relevant parties and authorities such as land registry
- Organize for the payment of stamp duty
- Arrange the transaction for the sale
Why should you hire a conveyancer?
While it is not mandatory to hire a conveyancer, the services they offer will significantly help you as a first-time buyer. You may have little or no prior knowledge of buying properties, and their services will be invaluable.Sometimes, buying of property, especially land, comes with complex and confusing legal peculiarities, for instance, easements. Thus, it could be challenging to handle such matters by yourself. That is why you may need to consider conveyancing.
Besides, hiring a conveyancer or solicitor will save you time, and will make the process less tedious. Getting a qualified professional may not be cheap, but the value they offer make it worth it.
How long does the process take?
Different property transactions take different duration. Therefore, there is no specific duration for all conveyancing processes. However, an average estimation is that it takes between 8 and 12 weeks. Getting the right solicitor or conveyancer will take less time since they dedicate their time to close the sale as swift and fast as possible.
How a first-time buyer can make the conveyancing process easy
There are numerous stumble blocks which can slow the property transaction. If you are buying property for the first time, chances are you are unaware of how to make the buying process easy. Here is how;
- Ensure your mortgage is in place
- Consult estate agents rather than doing it by yourself
- Fill in forms accurately and submit them in time
- Always do a follow up on the process
- Have your finances ready
Buying property for the first time doesn’t have to be overwhelming or daunting anymore. We would recommend trying conveyancing to make the process smooth. Conveyancing helps you save on time and focus on other aspects of your life. We recommend choosing a conveyancer you can trust. The right solicitor or conveyancer will guide you through the process. Happy buying!