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.
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3 Reasons You Should Consult a Conveyancing Lawyer When Buying Land
Daniel Young
The process of buying a property can be lengthy and stressful. During this time, you will need the services of a real estate agent to help you find a suitable property. But before you finalise the land purchase process and sign the contracts, you will also need to have a conveyancing lawyer handle the legal bit of it.
A conveyancer will assist you in transferring the legal title from the seller to you. Since they have vast experience in the real estate industry, they will answer the questions you may have about the land purchase process.
Even so, some people prefer the solo route when buying land. After all, hiring a conveyancer is not a legal requirement. However, things can quickly go south when you do not have a lawyer by your side. Hiring a conveyancer is the only sure way of getting the process right. Take a look at more reasons why hiring this legal practitioner is crucial:
1. They Can Spot Issues That You May Not See
Doing your due diligence is vital when undertaking any property transaction. You need to find out whether there are any easements, restrictions or environmental issues related to the land you are about to buy. Usually, your conveyancing lawyer finds out these details by carrying out a search on the property. The search will enable you to know what you are getting yourself into and protects you from future surprises.
2. They Save You Money in Several Ways
Many people avoid conveyancing services due to the hiring costs involved. On the contrary, you can save a lot of money through conveyancing. First, a conveyancer protects you from buying overpriced land by checking the prevailing market values and seeking a professional valuation of the land. Secondly, they protect you from incurring interest costs due to delayed payments by helping you find suitable financing options. And, since they are well informed of the latest developments regarding stamp duties and grants, you have a better chance of benefiting from them.
3. They Protect You From Costly Errors and Fraud
Going through the land purchase process by yourself means that you will be liable for the mistakes you make. Some errors may force you to compensate the other person for the damages or losses incurred. The only way you can ensure that such incidences do not occur is by hiring a conveyancer. More importantly, a lawyer shields you against fraudulent transactions.
You can never go wrong with hiring a conveyancer. It is the only guarantee you have for a safe, smooth and fast process when buying land.
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