Should I get a conveyancer before making an offer?
Whether this is your first home or dream home, there is nothing quite like the property-buying journey. It’s exciting, nerve-wracking, and daunting all at once, and the right experts in your corner can make all the difference. One of those experts is your conveyancer.
Conveyancers take care of the legal side of your property purchase, but they do so much more than simply check over your sales contract for errors. They flag potential issues with the property, they represent your best interest in contract negotiations, and they calculate taxes and other fees related to your purchase. In short, they ensure you are informed and aware every step of the way, helping you avoid costly mistakes.
So, if you are on the hunt for a property, the question begs: Do you need a conveyancer before making an offer? Let’s explore this further.
Do I need a conveyancer before I make an offer?
In most cases, it is not necessary to have a conveyancer before you make an offer. However, it is typically recommended. So, a better question might be, “Should I get a conveyancer before making an offer?” The answer is yes.
Consider the value a conveyancer could bring to your property search. For example, they can uncover insights about a property or transaction that you might’ve otherwise missed. They can verify the vendor’s ownership, reveal any easements on the property, and note any restrictions or other rules that could affect how the property is used, renovated, or built. This information can safeguard your finances and make or break a deal – without it, you might enter into an unfavourable sales contract you can’t get out of.
Should I get a conveyancer before making an offer on land?
What if you’re purchasing land? Do you need a conveyancer before making an offer? Hiring a qualified conveyancer before putting an offer on a block of land is critical – perhaps even more so than when purchasing a house or apartment. Buying land can sometimes be a more complex process than buying an existing property, so it’s important to understand all the facts before you pull the trigger – that’s where a conveyancer can help.
In some cases, blocks of land have restrictions and covenants that determine the type of property that can be built. Sometimes, this includes what the property can look like. Councils can enforce traditional building character overlays, for example, which require new builds to maintain the old-world look and feel of existing properties in the suburb. If you want to build a cutting-edge modern home on land with a character overlay, you’re out of luck, and it’s much better to know this before you make an offer and enter a contract.
Should I get a conveyancer before making an offer at an auction?
Do you need a conveyancer before making an offer at auction? Yes, you do. While you have the freedom to decide whether to engage a conveyancer before making an offer on a property listed for sale, auctions are a different story. If you are seriously interested in buying a house, apartment, or block of land at an auction, it’s imperative to enlist the help of a conveyancer before the big day.
When you register as a bidder at an auction, you will obtain a copy of the contract of sale. This contract will include critical information about the property, as well as any specific terms requested by the vendor – such as a longer settlement time. You need a professional to review the contract before you sign the dotted line, which, if you are the lucky auction winner, will happen on the day of.
If you don’t have the contract reviewed by a conveyancer, you risk entering an agreement you cannot or do not want to follow through with, and that can spell financial disaster.
What are the benefits of hiring a conveyancer before making an offer?
If you are wondering, “Should I get a conveyancer before making an offer?” there is no hard and fast answer. The ball is in your court unless you are purchasing a property at auction, in which case you should engage a conveyancer before you make an offer.
To help you make your decision, here are some of the benefits of hiring a conveyancer before you take a great big leap toward realising your property ownership dreams:
A qualified conveyancer will research properties and titles on your behalf, reducing the risk of hiccups and roadblocks should your offer be accepted.
A conveyancer can also calculate taxes and other costs associated with a property purchase. It’s vital you include these extra costs in your budget to ensure you can actually afford the offer you make.
A conveyancer can uncover insights about the property and any relevant easements, which dictate how you can use the property – even as the owner.
Critically, a conveyancer can check your documentation and address any mistakes or oversights. If your documentation is inaccurate, you could be held liable and risk losing out on the home of your dreams or even forgoing your deposit. Ignorance is not an excuse, which is why many buyers opt for conveyancers that are qualified solicitors.
Partner with a solicitor you can trust
Buying property is high stakes. On the one hand, it can pave the way for lifelong family memories and open doors to financial stability and long-term wealth. On the other, buyers without legal protection are vulnerable to unfavourable terms and may get stuck with a property that doesn’t meet their needs.
At Entry Conveyancing, our team of fully qualified solicitors provides best-in-class conveyancing services backed by a compassionate understanding of the exciting and challenging property-buying process.
“Should I get a conveyancer before making an offer?” It’s up to you and your personal preferences. But when you are ready, we are here to save you from heartache, protect your financial interests, and transform your goals into realities. Get a free quote today.