Real Estate Attorney Advice

Posted on: 11 March 2021

When buying property, most people are often conflicted over whether they should hire a real estate agent or a conveyancer. The truth is, the two professionals play different roles, and their responsibilities hardly intertwine. Below is an excerpt discussing the duties of a real estate agent and conveyancer as you purchase a property. 

The Real Estate Agent

The real estate agent's primary responsibility is to ensure that you get a house that suits your needs. Once you hire the agent, they will need to know what type of property you need. The agent will check local listings and visit various properties. They will narrow down your options, take you to the home visits and explain the features of the various properties. They can also negotiate the asking price if you are interested in a specific property. If you intend to purchase property at auction, your agent will recommend suitable homes and guide you through the auction process. For instance, they could ask you not to bid past a specified amount. 

The Conveyancer

The conveyancer takes charge of the legal aspect of purchasing the property. Therefore, they will: 

• Visit the lands office to ensure the property is registered in the seller's name. The conveyancer will also check the dimensions of the plot.
• Conduct due diligence to determine the history of the property. For instance, who has lived on the property? Has the property undergone significant renovations? It is a vital concern if you are buying the property due to its historical significance.
• Provide strata bylaws and a copy of any other regulations that guide developments in the area.
• Organise a pre-purchase inspection to ascertain the property's condition is as the seller described in the disclosures.
• If you do not have sufficient funds, the conveyancer will offer invaluable advice regarding suitable loans and financiers. At your request, they will apply for a mortgage and secure a loan approval letter from your bank.
• Negotiate the terms of sale. For instance, they will propose a suitable closing date, the required deposit and the seller's responsibilities. 

When hiring a conveyancer, conduct background research to ensure that the professional is licenced, experienced and reputable. Inquire about the conveyancer's availability, terms and pricing. 

Real estate agents and conveyancers play a crucial role as you purchase the home of your dreams. The agent will help you choose a property, while the conveyancer will help out with the buying process. 

Contact a local conveyancing service to learn more.