Pose some key questions to hire the right person for the job.
If you’ve ever purchased a property you’ll know that conveyancing is the process that sees the legal ownership of a piece of real estate transfer from one person (the vendor) to another (the buyer).
It all sounds very simple but in practice things can be a lot more complicated. That’s why most people, quite sensibly, choose to use a solicitor or conveyancer to carry out this part of the purchase process rather than attempt it themselves.
It makes sense to select a conveyancer or solicitor before you start looking for a property.
A selling agent will ask for details of the conveyancer you’re using once you are ready to sign a contract, and choosing the service provider at an early stage allows plenty of time to partner with someone you’re comfortable with. Family and friends can be a good source of referrals.
Draft a shortlist
Be prepared to shop around as the cost of conveyancing work can differ widely. Draw up a list of possible conveyancing services, and get in touch with each of them to ask about the cost of their service.
Some conveyancers have specialist skills, and these can be useful depending on your circumstances. If, for example, you are purchasing a rural property, or an off the plan property, it can pay to work with someone who has expertise in this area.
Pose some key questions.
Make a list of questions to pose to each of the conveyancers on your shortlist. Jot down their responses while you’re speaking with them so that you can compare notes later.
The main areas to address include:
- Do you hold membership to the Australian Institute of Conveyancers?
- What’s the maximum I can expect to pay in fees and charges?
- What are your fees and what services are included in those fees?
- What government fees and charges will I need to pay?
- How long will settlement take?
- How will you keep me up to date with what’s happening?
Remember, your conveyancer plays an important role in the purchase of your property so be sure to choose someone you feel comfortable with – and cheapest isn’t necessarily best.
We’ve listed 6 key questions to ask your conveyancer – what would you suggest as the seventh? Share your suggestions in our comments below!
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Aussie does not provide any financial or investment advice. This article has been prepared as a factual guide only. It does not take account of your objectives, financial situation or needs. Aussie recommends that you seek independent financial advice and obtain your own professional legal and taxation advice before making an investment decision.