Everyone knows that when you buy or sell property there is a real estate agent involved who shows the home and discusses the property with you. You will find out what you get, how much the likely sale price is estimated to be, what schools and transport are nearby and other local information about the area. They would also explain what has been approved by Council, if the property has easements and encumbrances and all other relevant information about the property itself.
When you view a property which is being auctioned a FORM 1 will be available for you 72 hours prior to the auction and the Agent will also explain the process and what what is required for you be able to bid at the auction.
Once you have decided on the property you want to purchase and you have either been the successful bidder at auction, or you have had your offer accepted after negotiating the price and any special conditions, then you will get to sign of the contract and be officially served the Form 1. So then what happens? The agent will ask you at this point ‘who is your conveyancer?” and most likely you will say ‘Why do I need a Conveyancer?’
Many people don’t even know exactly what a conveyancer is let alone which one to choose nor why they actually need one! If you don’t have anyone in mind already they may suggest a Conveyancer. It is always your choice as to which Conveyancer to use.
As Conveyancers we recommend contacting us prior to any offers you might make or for us to check the documentation prepared by the agent if you are thinking of bidding at an auction. We can have a look at the Form 1 for you prior to the auction or prior to signing a contract and we will go through all aspects of the documents and outline anything you need to be aware of, especially those which may make you re-think your decision to purchase the property. We do this as part of our service and don’t charge for this if you cool off.
THE CONVEYANCING PROCESS
Well, once you get to the point of having signed the contract this is where you will need a conveyancer. Having a reliable registered conveyancer as your trusted professional is one of the most important components in the successful settlement of the sale or purchase of a property. As it is an area that most people do not readily understand it is extremely important to use a good conveyancer who will guide you through the process.
They will pay close attention to detail and ensure that the transaction occurs as quickly as seamlessly as possible. They will not only hasten the transaction process, they will work to ensure that the deal does not collapse and ideally, will minimize stress and anxiety throughout the settlement period.
If you have decided to use us your conveyancer we can start working on your purchase or sale straight away. This will include ordering our own searches for due diligence purposes, liaising with the other party’s Conveyancer, preparing the legal paperwork for the transfer of the land, and attending to the financial part of the settlement. We make sure this is all ready for settlement day.
FEES AND CHARGES
Then there is the aspect of getting a quote for the conveyancing fees which can vary quite a lot in South Australia. Remember you will get what you pay for so a cheap is not likely to provide the quality service that you deserve. If you are quoted a price that seems very low you should ask them “What does that price not include” as there would certainly be something missing if they are too cheap.
The other question should be “What other fees and charges are there?” as you have only been quoted the conveyancing fees and not mentioned the mortgage liaison fee, settlement fee, stamping fee, archiving fees, administration fees and other various fees that may be added to your statement and these add-ons all add up.
If you are told you are getting looked after for a cheap fee and you don’t have to worry about a thing, the chances are you’re not! Like anything, quality comes at a cost and for conveyancing quality comes in the form of putting the client first.
A good conveyancer is worth their fees many times over as they can save you much more than just money in the process. The true value of good conveyancing stands out when your conveyancer clarifies the terms and conditions, discusses any issues and provides working solutions that save you time and money. Every transaction needs to be looked over carefully regardless of the complexity or size. Remember it is an important transaction to you. Above all your conveyancers aim is to make your experience as stress free and as enjoyable as possible
EXAMPLES OF WHY YOU NEED A GREAT CONVEYANCER
At McKay Business Services we do our best to achieve a great outcome for our clients, because sometimes things happen which are beyond our control! The following examples are how we assist our clients to get the best outcomes:
- Two transactions for one of our clients were number one and two in a line of four settlements. Numbers three and four were unable to settle on time which left Michelle in a jam – she had to sell her house but couldn’t buy her new one! We didn’t find this out until the last minute, and she had furniture in the truck and ready to go. We negotiated with the vendor that she could store her furniture at the new house and move in with her parents for a few days. Eventually the vendors decided that they could move in with their son and let or client occupy until settlement. Thankfully she wasn’t homeless!
- Over the past few months we have acted for people who live in many different places- our clients don’t just come from suburban Adelaide! Far flung places include Singapore, India, Canberra, Cambodia, Perth, Streaky Bay and a station 2 hours out of Alice Springs. No matter where people live we still have to adhere to a timeline and work out the best way of signing documents.
- One such client had been living in a motorhome for 2 years and was moving from Perth to Streaky Bay. We had to email all the documents with instructions for her to post back, and then work out how she was going to get money into our trust account. There were a couple of hiccups along the way but she has now moved into her new home and is loving it.
- We assisted Executors of an estate when our clients were undertaking the sale of their family home when their mother passed away after a very long illness, and the family took a long time in dealing with her personal effects. A lawyer took care of the requirements of probate and we arranged for the Title to the house to be transferred into the name of the executors. They were now able to deal with the property and it was sold soon after at auction, and settled with a minimum of fuss. It was a very emotional time for them, and the client told me “not only are we orphans, we are selling our family home”. We deal with our clients with sensitivity and make sure settlement goes through as smoothly as possible.
- An individual might refinance their home loans for many different reasons- a better interest rate or to purchase more property. Their circumstances may also have changed since they last bought property, and sometimes they will need a conveyancer to help satisfy their bank’s requirements. One such client had gotten married and moved to Perth since we settled her last property purchase. She and her husband were purchasing a new home in WA but the bank wouldn’t let them refinance until her name was changed on the SA property. She didn’t know where to start so I talked her through the process and let her know the costs. As time was of the essence I prepared the document and emailed it to her with instructions that afternoon. Once she had signed it in front of a JP she express posted it to me to certify. The bank in Sydney had the document they required within 4 days, and the new property settled on time.
Having a great conveyancer that takes the time to look after you in difficult or stressful situations certainly makes sense.
WHY DO I NEED MY OWN CONVEYANCER?
Remember, if you want to be sure that your interests are looked after then it’s best that you appoint your own independent Conveyancer. You have the right to choose who you prefer and should not have the same conveyancer as the other party. This avoids any difficulties if a conflict arises, as having your own conveyancer means they can give you independent advice to assist you throughout the process. Also, the earlier you speak to a conveyancer the better as they can help you look over the contracts and discuss the documents and the process BEFORE you sign.
The team at McKay Business Services are all members of the AICSA and are proud Adelaide conveyancers