I'm looking to purchase a real estate property in Australia, and I'm a little confused about how real estate transactions work here. To be fair, I'm not from Australia (I was born and raised in the United States), so that might be part of why the legal stuff and terminology is throwing me off. But I'm getting a little stressed about it, and buying property is stressful enough as it is! Hopefully you can help.
I think my biggest source of confusion is that I'm not really sure I understand what a "conveyancer" is. Can we start there? What is a conveyancer? Do I actually need a conveyancer? Why or why not?
Real estate deals can be very complicated and stressful. They can also be quite risky. In fact, the ways in which they are complicated are part of the reason why they are risky. Most of us don't spend a ton of time buying real estate; we may buy a house every few decades, if at all. So when we walk through a house or look at a real estate contract, we may not know what we should be looking for. And that can be a real problem — unless you're supported by the proper experts. A conveyancer is one of them.
So what is a conveyancer, anyway? A conveyancer is a professional who helps all throughout a real estate deal. In Australia, as in America, buying real estate isn't as simple as just walking into a shop and handing someone some cash. There is a process, and it involves offers and agreements as well as a "closing" when the property is transferred legally to its new owner. In Australia, the conveyancer is the person who helps close the deal, handles paperwork, and spots potential snags on behalf of the buyer or seller (who each have their own conveyancer).
You should absolutely use a conveyancer when you purchase a property in Australia, say experts in conveyancing in Brisbane. Here are three reasons why.
Conveyancers protect you
When you're the buyer, you are taking on all of the risks and problems that come with the property. So you better be sure that you know what those risks and problems are. That's why things like property inspections are so standard in real estate deals. Your conveyancer is the person who is going to scour the paperwork for any signs of trouble. In good faith or in bad, it's possible that the sellers and their agents have misrepresented something to you, so your conveyancer is there to protect you by spotting any such issues before the property officially becomes yours — while there's still time for the deal to fall through or for the terms to change to make the situation tenable for you.
Conveyancers guide you
You had to ask us what a conveyancer was because you didn't yet have one — but, once you do have one, you'll have an expert who is nearer at hand than our internet crew! You can direct your next questions about the real estate deal process to your conveyancer, who is likely to have just the answer you're looking for. As mentioned earlier, most of us don't deal with real estate purchases more than a few times in our lives. But for your conveyancer, real estate deals are a career. That kind of expertise can help you make the deal more safely and efficiently, and can also help you keep calm since you'll know that at least someone knows what they're doing. This is helpful for seniors, say experts who offer properties in over-55 villages in Brisbane, as well as for normal folks of all ages.
Conveyancers handle the paperwork
If preparing the documentation to buy or sell a home doesn't sound like your idea of a good time, then you're going to want to speak with a conveyancer. Conveyancers don't just check and re-check the paperwork and documentation — they also handle the creation and completion of most of it. Getting the confusing stuff off of your plate is a very good idea if you're not a real estate expert yourself.
In short, conveyancers play a very important role in the real estate purchase process. They protect buyers and sellers, handle paperwork, spot potential snags, and help usher the deal to completion in a safe and legal way. You should absolutely use one in your upcoming real estate deal, and should find that the whole process is a lot less frightening once you've joined forces with one!