If you’re in the market to buy a house and you find one that you are really excited about, you will likely want to make an offer. This is one of the first steps you will take in the process of buying property and it can be an anxious time for buyers. While there is a lot that will need to happen between making an offer and reaching settlement, it’s best not to underestimate these initial stages.
With any big transaction, you will want to ensure that you have done your homework and have someone experienced to guide you through and protect your best interests.
So it begs the questions: at what point should you engage a conveyancer, and do you need a conveyancer before you make an offer?
Before we examine whether you need to engage a conveyancer before making an offer, let’s look at the value of having a conveyancer for buying property.
Why do I need a conveyancer?
There are many reasons why conveyancers are invaluable in the buying process. Purchasing a house, particularly for the first time, can be stressful. For most people, it is not something that you do every day. For this reason, there is a lot involved in the process that people may not be aware of.
This is why engaging a conveyancer is highly recommended.
As a buyer, you have a lot to do, from evaluating what you can spend and talking to your bank to scheduling house inspections, visiting open homes and attending auctions. It’s no wonder that first home buyers and even seasoned investors can get overwhelmed with the process. This is notwithstanding the legal paperwork, negotiations, and due diligence that is involved in buying property.
Conveyancers (or property settlement lawyers) act on your behalf, providing guidance and advice during the stages of buying a house, and most importantly, handling most of the legal documents, paperwork, phone calls and legwork for you. They are experts in property conveyancing and ensure the process runs as smoothly and quickly as possible for you.
Do I need a conveyancer before I make an offer?
In short, yes, it’s advised to engage a conveyancer before you make an offer. You can engage a conveyancer at any time, but most states in Australia recommend hiring one before you begin the buying process. They will be able to conduct searches that may reveal something you weren’t aware of about the property.
If the property you are interested in is going to auction, it’s important that your conveyancer conducts a pre-purchase review of the contract to ensure that there are no nasty surprises. A pre-purchase review will uncover anything important before you start bidding. Your conveyancer will make sure you have a full understanding of the contract and any conditions contained in it. This will help to protect you in the auction process and ensure you know what you are getting into.
When you engage a conveyancer for a pre-purchase review, it’s important that you also inform them of any plans you have for the property, such as extensions or adding a deck or pool. There may be restrictions on the title of the property that would prohibit this work, so it’s better to find out as soon as possible in case it affects your purchase decision.
Do I need a conveyancer to build a house?
New builds are an exciting prospect for homeowners, particularly for new homeowners. But if you’re going to build a house on your new property, do you still need a conveyancer?
Yes, it’s advised that you still engage a conveyancer in the property buying process. You will still need to go through the process of transferring ownership of legal title from one entity to another, along with other requirements.
Purchasing land still comes with much of the same documentation and legal due diligence. While the process might look different, your conveyancer will still review and advise you on the Contract of sale, organise the required property searches, assess your legal rights for the property and those outlined in the title, and much more.
Why choose Pitt Street Conveyancing?
Pitt Street Conveyancing will protect your interests and make the settlement process as smooth as possible when you buy your new property. With over 24 years experience, Pitt Street Conveyancing’s solicitors know exactly how to help you and provide a personalised and ‘value for money’ service.
Some of the services we offer when buying a house include:
- Review your contract for you and negotiate any amendments.
- Search and investigate the title of the property (and bring any relevant matters to your attention before you proceed with the purchase).
- Ascertain whether you’re due any stamp duty concessions.
- Finalise settlement for you and answer any queries you may have.
- Provide advice and assistance throughout the process.
If you’re interested in engaging us for your next purchase in Sydney or have any questions, particularly around booking a conveyancer before you make an offer, get in touch with us here or request a free, no-obligation quote here.