A conveyancer is a critical aspect of the property purchasing process. They help clients appraise the property, establish its history and condition, and negotiate the terms of sale.
Hiring a conveyancer can be quite challenging. It is especially so since many people offer conveyancing services. So, how do you choose a conveyancer? Read this extract for some useful tips.
1. Check the Conveyancer's Speciality
Ideally, the conveyancer should specialise in the purchase of the property that you intend to buy. For instance, when buying commercial property, work with a conveyancer that deals with commercial property. Preferably, the conveyancer should be based in the area that you intend to purchase the property. It guarantees that the professional understands the real estate dynamics of the area.
For example, what affects property prices in the area? What are the state regulations? What are the real estate seasons? This information will help them negotiate the property. Your conveyancer should have positive reviews from previous clients. Besides, they should be affiliated with professional associations.
2. Check the Available Services
The conveyancer should:
- Organise a pre-purchase inspection to examine whether the property is habitable. For example, the construction blueprints should abide by the building code. The inspection will also assess the condition of the roof, floors and drainage.
- Help you secure financing to purchase the property. Typically, they will bargain the interest rates and repayment terms of your mortgage.
- Negotiate the terms of the contract of sale. For example, they should ask the seller to conduct minor repairs on the property.
- The conveyancer will ensure the property has the required permits. Further, they will help you transfer the title into your name.
3. Read the Terms of the Hiring Contract
Most clients will forget to read the terms of the engagement contract. However, failing to do so could lead to conflicts with your conveyancer. For instance, check the conveyancer's availability, how to contact the professional and the terms of contract termination. For example, will you pay any fees if you do not complete the sale? As a rule, the conveyancer should have professional indemnity insurance.
Understand the conveyancer's pricing. For instance, does the conveyancer price per hour, or do they have a fixed charge? If possible, avoid conveyancers with numerous additional and hidden costs.
Hiring a conveyancer should no longer be a difficult task. Check his or her speciality, available services and the terms of hire.Share