If you are thinking about buying or selling a property in Australia, then you have likely run into conveyancing law. It can be quite confusing, especially for those not familiar with the industry. Not to worry, as there are many services available because of how complicated the conveyancing process can be. The number one piece of advice you will receive when selling or buying a home is to never do so on your own. Here is a quick rundown of why that is and what you should do instead.
Why Can't You Sell Or Buy Property On Your Own?
Legally, there is no reason why you cannot do this, but realistically, unless you are a lawyer or conveyancer yourself, it makes much more sense to engage conveyancing services to act on your behalf. There are many laws, bits of paperwork and regulations that you have to follow whenever property transfers from one person to another, and if you get it wrong, the whole contract could be null and void. A conveyancing service takes out all the risks from this process because they know all the federal, state and even local laws that might apply to your situation.
What Does A Conveyancing Service Do Apart From Just Writing Up The Correct Contract?
Conveyancing services act on your behalf and therefore make sure that the property is as good as it was advertised. That means they will check all the historic paperwork on the property, check the physical location for themselves to ensure everything is as advertised and even visit the local council records to see if there are any documents the owners themselves aren't showing. In addition to this, conveyancing services bring with them an intangible element that you simply won't have: experience. They know what is a good deal and when something is a bit off because of the thousands of hours they have spent working in this field.
How Much Does A Conveyancing Service Cost?
Most conveyancing services have a set price and are not commission-based. That means they are not trying to upsell anyone on the property, which makes them a more reliable resource. In general, a conveyancer can cost anything from a few hundred dollars to a few thousand dollars, depending on the man-hours required. This fee is usually agreed upon before the work begins, so don't worry—you won't encounter any hidden fees or surprises here.