The Conveyancing Process
When buying a property in Launceston, be it your forever-home, or an investment property, having an experienced legal team on your side can be vital. Under Tasmanian property laws, buyers are more vulnerable than in the rest of Australia, as there are fewer buyer protections in place. People can often sign contracts assuming they're protected, only to have a nasty surprise later in the process. It can save plenty of anxiety down the track to have a conveyancer, backed up by solicitors, to inspect all contracts before they are signed and ensure that the process is as stress-free as possible.
Should I use a Licensed Conveyancer, or law firm?
Conveyancing can be done through a law firm or licensed conveyancer. Conveyancers can't give legal advice on Contracts, therefore, if legal issues or grey areas arise during the process, a licensed conveyancer will generally refer you to a law firm. Going directly to conveyancers within a law firm, like Rae & Partners, means all bases are covered from the get-go and you won’t find yourself half way through your purchase being referred to a law firm for legal advice if something goes wrong.
When should I engage legal advisors?
To ensure you’re well protected, you should meet with your legal team as early as possible. When you’ve spotted your dream home and have decided to place an offer, you can have the real estate agent send the contract to your team, who will check for any future red flags, such as strata titles and water licences. They’ll talk you through the contract’s terms and any clauses you may wish to include - for example, a finance or building inspection clause.
Your legal team will also help you figure out what other terms you may wish to include, for example, often people think they have the right to a final inspection of their property. There’s no statutory right to this in Tasmania, however, if this is something you might want, your conveyancing legal team will be able to negotiate for it on your behalf.
What is the conveyancing process?
Once your offer is presented to the vendor and the contracts have been signed, you’re officially in the conveyancing process. You’ll receive information back on key dates and your conveyancing legal team will get to work liaising with the bank and the vendor’s solicitors.
Life is often busy enough, without the added stress of remembering all the key dates that arise during settlement. Your conveyancing team will be on top of these and will keep you and the bank on track for any deadlines. Even if you have spoken to your bank and think your finance is covered, it’s wise to include finance clauses in your contract unless your unconditional finance approval letter has been received. If you’ve signed the contract without a clause and finance falls through, you may be in breach of contract and the vendor might keep your deposit.
When it comes to settlement, your conveyancing team will act as your representative, organising payment, negotiating any additional requests, such as moving your furniture into your new home early and will even attend the physical handover of cheques, keys and certificates for you.
The benefits of choosing a Launceston conveyancer
When engaging a lawyer or law clerk to do your conveyancing, it’s best to choose someone close to home, who is able to provide local knowledge on the area and help to identify any possible issues specific to the area. Choosing a conveyancer in Launceston also means your conveyancing team is easily at hand should you need to get information to them urgently, or if you just need that extra bit of reassurance.
We understand that when making life’s big decisions, it’s important to surround yourself with people who have your back. Our conveyancers in Launceston and Devonport are here when you’re ready for your next move, to advocate for you and ensure your sale goes through smoothly.
Contact us to meet with a lawyer or law clerk experienced in conveyancing.