While both, the buyer and seller are required to follow the conveyancing process, each side will have slightly different legal obligations. If you are the seller, you must look at what’s involved in the conveyancing process. Consult with a good conveyancing solicitor Sydney who will guide you every step of the way and ensure that you are fulfilling all your legal and financial obligations of the deal.
These professionals are knowledgeable, helpful, and well versed with the laws pertaining to your particular territory or state. This local knowledge is important in real estate deals. It’s also vital to work with your real estate agent at every step of the selling process right up to conveyancing.
Credible agents have business connections with conveyancing solicitors Sydney as well as conveyancers. Selling a property is not something you should take lightly and proper research and legal advice and help are crucial aspects of the transaction.
Important Aspects of Selling a Property
It’s your responsibility to fulfill obligations integral to the conveyancing process; this includes:
Documents- In most instances, you would have to prepare the Contract for Sale. It’s a task that your selling agent, conveyancer or solicitor can help with. The type of sale is the determining factor in who would assist you at this stage. If you are selling via an auction, either a conveyancer or solicitor would prepare the contact and handle other legal aspects. You need to complete other paperwork and your legal experts will help with that too.
Other Obligations- You would also need to meet some other legal obligations, though these are dependent on individual circumstances. For example, if you have leased out the property, you would have to give a notice to the tenant in advance to vacate the premises, etc.
Conveyancing Costs- While you would still have to pay the conveyancer, the amount would be far less than what the buyer pays for these services, because the transaction is always riskier for the latter than it is for you. Their conveyancer has to do more legwork than the professional you have hired.
Every conveyancer might charge different rates and this something you should check in advance. Sellers typically pay higher disbursement costs than purchasers because the conveyancer has to conduct some research for the statement you provide.
Next Steps
These are the primary challenges and obligations that are part and parcel of the conveyancing process. You can work with a local real estate agent who will handle the process first steps like creating the Contract for Sale. The next step would be to find a credible and experienced solicitor or conveyancer to complete the other steps of the process.
Since there are several modalities and legalities involved, make sure that you identify reputable professionals that have handled a number of similar tasks in the past. They would be able to guide and help you with all aspects of the deal and make sure that things stay on track.
