How To Get The Most From Your Conveyancer
The conveyancer is a critical aspect of any real estate transaction. Ideally, the professional handles the legal paperwork associated with the property transfer process. Below is a piece on how to get the most from your conveyancer.
Ask for a Property Appraisal
Most property buyers forego property appraisals in a bid to ease the purchasing process. However, relying on the seller's word predisposes you to buy overpriced properties. A valuation is the only way to avoid such incidences. Your conveyancer applies various tactics when conducting the property valuation. For instance, they could use the average selling prices of similar properties as a base when determining the value of your preferred property. The conveyancer also considers factors such as location, square footage, and additional amenities to determine the property's actual value. If the seller's price exceeds the valuation, the conveyancer could ask the seller to justify their asking price. For instance, you could find out that a prominent figure once occupied the property or the seller has secured easements to control the use of neighbouring properties. Such information goes a long way in helping build your confidence in the purchase.
Ask the Conveyancer to Help Out With Property Inspection
Once you sign the contract of sale, the seller allows you to conduct a pre-purchase inspection. In most cases, you will ask a building surveyor to inspect the premises and prepare a pre-inspection report. However, did you know the conveyancer can help with the inspection process? Typically, the inspection report contains legal and construction jargon that you might not be familiar with. The conveyancer explains the contents of the inspection report to ensure that you are well aware of what you are buying into. For instance, if the property contains some structural defects, the conveyancer explains the implications of such issues. For example, a weak foundation requires instant reinforcement if you plan to build other structures close to the property. Conversely, a termite infestation in the attic could damage the trusses, roof, insulation, and walls. Such information helps you negotiate fair pricing. Moreover, you could ask the seller to conduct the required repairs before you move into the property.
Ask the Conveyancer to Organise Financing
Although you might have an excellent rapport with your bank, the conveyancer is best suited to organise financing. Conveyancers understand the various loan products and their financial implications. For example, you could take a fixed-rate loan to take advantage of low-interest rates. However, you could spend more if the interest rates increase in the future. The conveyancer uses financial forecast tools to determine which loans guarantee long-term savings. Moreover, they negotiate the conditions to ensure you have an easy time servicing your mortgage.
For more information about conveyancing, contact a local company.