Legal Basics: What Does A Conveyancing Solicitor Do?
One question that is often asked is why do you need a conveyancing solicitor and exactly what do they do?
You get your pre-approval for your first home.
After months of endless Saturday morning property inspections you finally decide that you have found your perfect place. You fire in an offer. The real estate agent accepts it. What now? Surely you just sign on the dotted line!
Unfortunately, buying a property is not that simple and engaging an experienced property lawyer to act on your conveyancing is the best investment for your investment! Contracts for sale of land are lengthy technical legal documents with huge repercussions.
Your conveyancing solicitor has many roles but some of the most fundamental that they will do is review the contract and:
- Make sure you are buying what you think you are buying;
- Make sure that where possible the conditions of the contract are beneficial to you, particularly in respect of minimisation of damages if there are delays with your bank;
- Organise and arrange settlement with your bank and the vendor (Seriously who has time for that?);
- Make sure that the property complies with various laws.
Quite simply, although conveyancing fees may seem an unnecessary cost, your conveyancing solicitor may just save you thousands of dollars. The same can be said if you are selling the land. Your real estate agent charges you huge commissions to sell the land! Paying an experienced property lawyer a small fraction of that cost to ensure that you are adequately protected in your sale is another sound investment.
Vizzone Ruggero Twigg Lawyers Partner Joe Vizzone has 30 years of conveyancing experience. He is an expert in residential and commercial sales, purchases and leases. If you wish to discuss your property law or conveyancing needs please contact 02 9667 1271 or firstname.lastname@example.org