As a first time homebuyer, you would like to make the right choice of residence from the beginning to avoid costly losses down the road. As such, it is never ideal to simply select a home based on it fitting within your budget. Once you have your sights set on a particular property, you should enlist conveyancing services. However, not many newbie homebuyers understand the importance of conveyancing services. Here are some of the different services that your conveyancer will provide you with to ensure you are making a legitimate purchase.
Selling out the contract of sale for the property
When looking to invest in a home, the first step would be the selling out of the contract of sale. The process involves a number of things. You will present the seller with an offer. Once you have negotiated and agreed to an amount, a contract is drawn up by the seller for you to sign. To initiate the house sale, the conveyancer will also have to be a signatory on the contract. However, before your conveyancer signs off on this they will scrutinize all aspects of the contract of sale to ensure there are no details that are either vague or missing. In the event that the conveyancer finds some errors or omissions in the contract of sale, they will be tasked with ensuring they are rectified before the sale can proceed.
Searching for property titles
Another service offered by conveyancers to ensure the legitimacy of the property sale is title searched. The conveyancer is tasked to search for titles of properties that are within the state that you are looking to purchase your residence. In the event that they encounter proof of pervious conveyancing problems associated with the property you are looking to invest in, then the conveyancer would have to stall the sale until these issues have been ironed out. On the other hand, if there are no problems with the title of the property, then the conveyancer will be tasked with having the title transferred to your name before your sale settlement date arrives.
Establish if there are any easements of covenants on the property
Lastly, before your property sale can go through, the conveyancer has to establish if there are any easements or covenants that are attached to the property you are investing in. Easements provide other parties the privilege to use the property whereas covenant usually limit the owner's ability to carry out certain developments on the property. In the event that the conveyancer finds any easements or covenants attached to your potential investment, then you have the right to let the contract die out without being obligated to pay for the property.Share