If you have ever bought a property in south-western Sydney you will be very familiar with residential conveyancer solicitors in Campbelltown, but for those who haven’t these practitioners and the process they help us with may be completely unknown.
Conveyancing is the transfer of property from one owner to another under the eyes of the law. This process usually has two stages, the transfer of contracts, followed by completion, as the legal titles are passed over. It can be an extremely complicated process and one that should be overseen by residential conveyancing solicitors.
The sale of land and property is governed by the lawmakers of the state in which the property is. Any transfer of said land or property must be completed legally following the procedures in place. Contracts must be prepared to show transfer of deeds in writing. Generally, both parties will be present as they sign two copies of the contracts, one for each. When these contracts are passed from one party to another, the deal is said to be complete. It is usually agreed that sending and signing contracts electronically is generally insufficient and an agreement done in this way may not be binding. While completing the process, residential conveyancing solicitors will be with you every step of the way to assist.
In Australia, the process is made even more complicated by the existence of separate states with different rules. Privately owned land is governed under the Torrens System while a set of laws derived from English common law governs property law. The transfer process can be carried out without outside help but it is strongly recommended by lawmakers to use residential conveyancing solicitors.
When you decide to buy a house, money will be the main issue. Your sole aim will be to afford the deposit. You’ll be thinking of nothing else, just saving for the deposit so the house will be yours. You can worry about the repayments in a few months. It’s very possible that you will not have factored in the cost of hiring a lawyer to complete the paperwork. The cost will be a small fraction of what the house is worth so if you really want to secure the property, it will be best to hire residential conveyancing solicitors, who can walk you through everything, step by step, before it happens.
If you have made the big decision to buy a house, thinking it’s everything you wanted, and you have signed the contracts but you get cold feet, don’t worry, a cooling off period does exists. This period can be as short as 2 days in South Australia and up to 5 days in New South Wales. This period allows the purchaser to reconsider the purchase and to cancel the contracts if they so wish, unless it was made at an auction. If the option is taken to cancel the purchase, you may still need to pay a small fraction of the total amount to make up for backing out. If you have any doubt about the purchase and the laws surrounding your purchase residential conveyancing solicitors will know the exact laws surrounding the transaction.
Residential conveyancing solicitors are experts in their field, they will assist with checking for restrictions on the property, arranging payments are made, preparation of legal documents and generally making sure everything runs smoothly. You may have second guessed the decision to hire them having seen the costs they’ve run up but in the end, it will be all worth it. You’ll be sitting in your house with your family, knowing that it would not have been possible without their hard work and dedication.