Conveyancing in Melbourne in is a legal process of buying, selling or long-term renting of premises takes place. It is possible to do the process by yourself, but it is always better to seek professional help as they would be in a better position to guide you in a sticky situation.
A conveyancer checks all the legal documentation and ensures that both buyer and seller agree on all terms. These professionals check deeds and make sure that all financial transactions are carried out as per the plan. Conveyancing can be classified as residential conveyancing and commercial conveyancing.
A residential conveyancer is a lawyer who prepares all documents needed for purchasing or selling of a house. Most people hire a solicitor for this purpose as they are not familiar with the process. If you are purchasing a house, you as well as the previous owner of the house will each need a conveyancer.
A residential conveyancing includes three steps. They are
- Agreement to sell: This is the first step of conveyancing. At this point the seller should need to give few details of the property like property boundaries, work done on the property, and other issues. The owner should also give a copy of property tile and contract of sale. At this point the potential buyer conducts legal search, home valuation and other requirements for buying a house.
- Exchange of contracts: During this part of the process, buyer makes a deposit on the property. If the seller has a mortgage, they make arrangements to clear it. Once the financial matters are settled, the purchase and sale contracts are signed.
- Completion of sale: On the decided date, the buyer hands over the remaining amount to the seller and they hand over the keys to the buyer, this marks the end of transaction.
If you have to buy or sell a house, it is better to contact the best conveyancer in your locality to make the process simple for you.
