Why you should contact a conveyancer before you sign a contract

When you have found a property that you really love and it meets all of your requirements, it's important to hire a conveyancer to handle the legal aspects of the transaction and process the necessary paperwork before you sign the contract. Here's why...

A conveyancer can provide objective advice and professional guidance by reviewing the contract before you sign it, ensuring that you fully understand the terms and conditions of the purchase.

It's important to choose a conveyancer who is easy to communicate with, who understands your specific needs and who can clearly explain legal terms and concepts in a way that you can understand. It can also be beneficial to select a conveyancer who is familiar with the local government rules and regulations and has extensive experience with the type of property you are purchasing.

Before signing a property sale contract, it is important to have it reviewed by your conveyancer. The contract will typically be provided to you either before making an offer if the property is being sold through auction or an online sales program such as Open Negotiation or upon request from the selling agent in a private sale. The contract may include a large number of pages, some of which are mandatory instructions and others that pertain specifically to the property being sold and how it will affect you as the buyer. It is important to carefully review the contract and fully understand all of the terms and conditions included before signing, as once you do, you will be bound to them. Be aware that standard contracts can be amended to remove certain conditions, and it is important to ensure that you are aware of all provisions included in the final version of the contract.

Your conveyancer will perform due diligence to identify any potential issues with the property title, such as unpaid debts, boundary disputes, or previous sales that may not have been properly finalised. If any issues are found, it does not necessarily mean that you cannot purchase the property, but rather gives you the opportunity to negotiate the terms of the sale and have a new contract written to address any concerns.

Some examples of conditions that may be included in the revised contract include the ability to withdraw from the sale if building defects, asbestos, or termites are discovered during a professional inspection, the ability to cancel the sale if there are delays or problems with your loan, the ability to negotiate if your current home does not sell in time to make the required payment at settlement, and the inclusion of certain fixtures such as ceiling fans, shutters, or blinds. Your conveyancer can also provide guidance on meeting the requirements for cooling-off periods and advise you on how to cancel the sale if necessary.

The process of buying a home involves more than just touring properties and envisioning your furniture in them. It is important to carefully plan and consider your specific needs and budget, and to seek the appropriate legal advice to ensure that the transaction goes smoothly.

Having a reliable lender and conveyancer can provide peace of mind and allow you to focus on the fun aspects of finding and moving into your new home. With the right support in place, you can feel confident and secure in the knowledge that the more complex tasks are being handled for you.

We're here to help. Contact us to discuss your conveyancing needs or any questions you may have, by clicking here.