FAQs About the Conveyancing Process
Need to know about conveyancing in Melbourne? Read through the FAQs in this article to understand what’s involved.
What’s the First Thing You Need to Know About Conveyancing?
Conveyancing in Melbourne is a legal, adversarial process. You are an adversary of almost everyone involved in the transaction apart from your lawyer. That is why it is so important to hire a reputable lawyer to guide you through the process. They are really the only ones you can trust for unbiased advice. Everyone else has an ulterior motive, from the vendor to the real estate agent and even your lender.
What is Conveyancing?
Conveyancing is the act of transfer of legal ownership of property from seller to buyer. It is a simple definition, but the process is an involved legal transaction, and for that reason you should choose a lawyer to protect your interests throughout.
Who Can Do Conveyancing in Melbourne?
When you need conveyancing in Melbourne completed, you have three alternatives to choose from – DIY, hiring a lawyer, or hiring a licenced conveyancer to help you. Let’s consider each in turn. What if you DIY it? This may seem like a good cost-cutting strategy to start with, but when you consider the complications that could arise if you make a big mistake, it might not be so cheap after all. When buying and selling real estate, you just don’t want anything to go wrong. Imagine the stress! It also could result in you having to pay fees or become stuck without the knowledge to know that to do. Contrast this with hiring a lawyer for conveyancing, who not only will know what to do, but will have a broader knowledge of the law and will be able to tell you if your purchase or sale of real estate will have a knock-on effect on other areas of your legal wellbeing. When you hire a licenced conveyancer, you get support for the technical aspects of conveyancing in Melbourne only, and you don’t get the same benefit of holistic legal advice as you would from a lawyer.
Why Use a Lawyer for Conveyancing in Melbourne?
Conveyancing in Melbourne is best conducted with the help of a lawyer, as they are able to provide well-rounded legal knowledge to help you in any situation. Their expertise not only encompasses the process of conveyancing, but it also includes ancillary matters that could be affected by ownership of real estate, such as Family Law, Wills and Estate, and Taxation. So when you hire a lawyer for conveyancing in Melbourne, you get a much more holistic service. In addition, lawyers are bound by codes of conduct to take actions that are only in the best interests of their clients. It is their duty to protect you from legal risk. They do so by providing legal support around pre-contract rules and procedures, as well as letting you know what your obligations are to other parties of contracts. A lawyer is an expert in conveyancing who can safely steer you through the process of buying or selling.