Most people find the functions of a conveyancing lawyer confusing. In fact, many people think that the processes involved in buying or selling of property are not complicated at all. There only time people realize what this process entails is when they get involved in it.
There are several things that have to be done which may include negotiations, transactions, and promises that have to be dealt with. People are afraid of hiring the services of a conveyancing lawyer because they believe they are very costly only to end up spending more money to correct the mistakes.
So what does a conveyancing lawyer do? Below are some of the roles that can be done by them.
Offering Legal Advice
There is a lot of legal work involved when it comes to selling or buying the property. A conveyancing lawyer will help you to steer these processes smoothly and successfully. When selling the property, they will ensure all the requirements that are needed to form the Contract of Sale are met.
You can also request the attorney to reach out to your mortgagee so as to ensure the necessary paperwork is in place. To the buyers, a conveyancing lawyer will advise them on matters concerning the terms of the Contract of Sale.
Even though a conveyancing lawyer should not take part in making direct financial arrangements, they can speed up the process by ensuring the most important documents are availed to the bank on time.
Compiling the Required Documents
The conveyancing solicitor is responsible for ensuring all the legal documents required during the transaction are all in order. In spite of the transaction you are performing, they will ensure all the essential documents are not left out in the final contract.
This ensures the seller and the buyer are not involved in conflicts during the later stages.They ensure the seller has met all the disclosure requirements accordingly.
Conveyancing lawyer can also help you in preparing the last details pertaining to the settlement. When it comes to sellers, they will team up with the buyer’s conveyance so as to determine the best time for the settlement.
For buyers, the attorney will work with your bank to ensure your funds are ready for settlement purposes. You need to present the funds to your lawyer a day before the settlement so as to ensure they have ample time. Some of the other roles played by a conveyancing lawyer are:
- Changing your rates as well as taxes
- Representing you on settlement matters
- Trying to find anything that might affect your property in -government agencies as well as local authorities
Conveyancing is a very important process when it comes to selling and buying of property. Hiring a conveyancing lawyer will simplify the transfer and settlement processes and at the same time ensuring the rights of the client are not compromised.
When planning to either buy or sell property it is important to consider hiring a professional lawyer who will ensure you are moving in the right direction when performing the transactions. These are not the only duties performed by them, there are many other roles.
So now you know more about conveyancing, you may interest in what is the advantage of hiring a conveyancing lawyer in Singapore.