contracts & approvals
When do you need a conveyancer?
Tuesday, 8 December 2015 11:42 AM
Considering the large amount of capital involved with building a new house in Australia, perhaps it's not too surprising that there's a fairly lengthy legal process to ensure that the transaction goes smoothly. G.J. Gardner Homes realises that speaking with the applicable government departments, understanding contractual fine print and ensuring that you've dotted your i's and crossed your t's is time consuming, which is why G.J. Gardner Homes builders are able to help you with necessary paperwork.
This leaves you free to focus on the more enjoyable parts of designing and building a house such as planning on how you're going to decorate the interior, shopping for new furniture and appliances and watching your new home come together.
For peace of mind, many buyers opt to use conveyancers.
For added peace of mind, many buyers opt to get the opinion of an independent third party professional when signing contracts and committing to legal decisions. There are a range of people who can provide expertise in this area, with one of the most common being conveyancers.
There are some costs involved with using a conveyancer, so before committing to their services, it's important to understand what they actually do and how they might simplify the process of building and buying property.
What is the role of a conveyancer?
A conveyancer can assist with many tasks associated with the legal aspects of building a new home. It's worth noting that if you feel confident to do so, you can carry out the conveyancing on your own though due to the nuances of real estate law, it's usually a better idea to use professional services.
What do conveyancers actually do? Essentially, they ensure that the property is put into your name and thus gives you legal ownership of the house and land. The New South Wales Department of Fair Trading explained they are able to assist with many elements of the purchasing process including:
- Evaluating contracts
- Helping you to arrange finance
- Paying for the house deposit
- Assessing whether any government bodies are planning any developments that could impact the land or house
- Organising building inspections
- Determining if you'll be subject to any land tax obligations
- Sorting out stamp duty payments.
In addition, the Australian Institute of Conveyancers noted that another key benefit of using a good conveyancer is that he or she is adept at translating convoluted legal jargon into laymans terms. This ensures that that you know exactly what you're signing and how the terms of the paperwork may impact your property or you as a buyer.
The duties a conveyancer carries out will vary for each situation and will ultimately come down to your unique needs and set of circumstances. However, there can be no denying that having an industry professional lending some insight into the construction and purchasing process can help simplify matters and make you feel more confident about your decisions.
When do you need a conveyancer and where can you find one?
As mentioned a conveyancer ensures your beautiful new home is legally transferred into your name. With this in mind, you will need to employ the services of a conveyancer before you sign any paperwork to ensure the contract is in order.
To source a suitable conveyancer Realestate.com.au suggests to find one via word of mouth. Failing that, you may be able to find a good suitable conveyancer by searching online or asking for recommendations from those in adjacent industries.
How much should you expect to pay for a conveyancer?
There are no set fees for conveyancing and the amount you will pay will depend on the person you use, the amount of work required and a range of other elements.
As a general guideline, the New South Wales Department of Family & Community Services surmised hiring a conveyancer will cost approximately between $700-$2,500. Although this may sound like a fairly large fee, it's a relatively small amount to pay considering the scale of your investment and the extra layer of assurance it provides can prove to be invaluable in the long run.
Ensuring that your home is legally yours involves a reasonable amount of paperwork. While G.J. Gardner Homes is able to take care of necessary documents on your behalf, having a conveyancer on hand can help further simplify the process. For more information on how G.J. Gardner Homes can help you design and build your next home, contact your local home builder today.