Hello, my name is Robin and I own a medium sized business which is based in a suburb of Perth, Australia. Many business owners do not understand the importance of commercial law on their operations. I know that I certainly didn't when I set out. At first, this wasn't an issue but as my business grew, I realised that if I didn't teach myself about the legal rules in place and seek expert help, I would find myself in serious trouble. I got in touch with a great law firm who helped me to understand exactly what I needed to know. I decided to start this blog to help other business owners.
The process of buying property is a lengthy and complicated one due to the many variables that have to be considered before the closing date. However, there are pitfalls that you may find yourself into, which may make the process even lengthier and more exhausting. How do you ensure that the entire exchange process goes through without hitches and delays? Here are some useful measures that you can take from the moment you develop an interest in a particular property.
Hire an expert once you make an offer
One of the greatest mistakes that most people make when purchasing property is waiting to hire a lawyer or conveyancer during the late stages of the transaction. Such a move can cause severe delays in the process, especially if the lawyer or conveyancer has to streamline or alter previously-made decisions. For instance, if you proceed without carrying out a professional property inspection, the attorney will advise that you get it done. Waiting for the inspector's findings, repairs, and redrafting the agreement to incorporate changes can drag the process along. To avoid this, consider hiring a conveyancer or lawyer immediately you make an offer so that they can walk you through the entire transaction.
Check planning permissions
Although it is the duty of the seller to ensure that all planning permissions and building regulations are in order, it is essential for you to look into them as well. Any changes and renovations made should adhere to the regulation and codes of the local council. Failure to this, problems may arise during property transfer, and they can easily cause delays in the process. With the help of your lawyer, make sure that all the relevant regulations have been met.
Sign documents on time
The process of purchasing property requires the handling of various documents and paperwork. Some of these require you to sign and submit them to the financier, real estate agent, or other party involved. Failure to sign and return some documents on time can lengthen the conveyancing process. For example, most lenders require you to sign documents and present them for approval and processing. The processing period can take a few days or weeks, and the seller cannot transfer property until the financier has approved your loan. Sign and submit all documents early to avoid such delays.
Follow these tips to avoid delays during the conveyancing process. Seek the professional help of a property lawyer so that they can handle all the legal paperwork and offer valuable advice regarding the purchase.