What Exactly Is Conveyancing
July 16, 2014
While there is no doubt that buying a real estate property is a momentous occasion for many, it is also a fact that there are quite a few complicated steps that have to be negotiated. Therefore in general there is a perception that buying and selling of real estate properties is a complicated subject matter. While such perceptions may not be entirely true it is a fact that some of the steps are extremely complex because of various reasons. There are a number of legal issues that have to be addressed when the ownership of a property is transferred from one person to another. Additionally there are quite a few statutory and compliance related matters that also have to be taken care of. Apart from the above there are some bits of administrative and follow up related matters that also need to be addressed.
Ordinary real estate buyers and sellers will certainly find these matters beyond their comprehension and understanding. Hence they have no other option but to take the services of professionals. Conveyancing can be defined as the various steps that have to be climbed from start to end before the ownership gets transferred from one person to another. Let us now look how a typical conveyancing scenario works.
Once a customer has firmed up is mind to buy or sell a property he approaches a conveyancing company for helping him run through the entire process. The conveyancer sits with the prospective customer and understands his requirement fully. He also explains the various processes that he will able to offer to the customer. He also sets a rough time line for completing the entire processes. He also makes a mention of the total cost involved. Once the customer agrees in principle to associate with the conveyancing service provider the clock starts ticking as far as the conveyancing process are concerned.
There are many professionals who are involved in the entire process. A few of them whose roles or extremely crucial are real estate lawyers, real estate valuers, property managers and other support staff. Each one has a unique role to perform and their roles are also interconnected. There should be seamless movement of papers and information from one professional to another to facilitate smooth transfer of property ownership.
Getting To Understand Conveyancing Better
July 3, 2014
There are quite a few reasons as to why conveyancing is considered so very important. First and foremost one has to bear in mind that buying and selling a real estate property is not as simple as buying some other assets (both immovable and movable). There are a number of legal impediments along the way which have to be taken into account. Only when these legal issues are sorted out can the property be transferred from one entity to another. Given the above situation, it is but natural for most of the customers to seek the help and services of professionals to get the job done. Let us try and understand the various processes involved in conveyancing and why it is practically impossible to do them on our own.
Put in simple words, conveyancing is nothing but a process of various steps that have to be gone through before a property changes ownership from one person or one entity to another. These processes are not under the domain of one professional and hence it has to be handled by a number of professionals along the way. You could have lawyers and advocates looking into the legal angle of the entire property. They would be also taking care of the documentation, drafting of the various agreements, vetting them, having them executed at the right place at the right time. They also are vested with the responsibilities of physically having a look at the property and comparing the size and other parameters with what is available in the property documents.
On the other hand, as a customer, have to also take the services of property valuer. His role basically is to ensure that he reports the fair market value of the property that is being bought or sold. Though this might look very easy on paper when it comes to implementing it on the ground, it is quite complicated. He will to take inputs from various sources and use various tools and techniques to arrive at the fair market value. The value should also be legally tenable and therefore there is hardly any room for error. Apart from the above, there are also other professionals whose help and assistance is required to ensure smooth transfer of ownership from one person to another.
Understanding More About The Importance Of Conveyancing
June 18, 2014
Buying or selling a real estate property is not simple. There are a number of legal, statutory and other requirements that should be met before the ownership of the property gets transferred from one entity to another. For first time buyers and sellers it is quite possible that the entire process could be highly complicating and difficult to understand. Hence, in almost all the cases they take the help of professionals to ensure smooth transfer of ownership from one person or one entity to another.
The professionals who are at the helm of affairs in helping buyers and sellers to complete their transactions are referred to as conveyancing professionals. There are quite a few such professionals who are involved in the entire process. We will however have look at a few of those whole roles are extremely significant and important. Let us get started with the role of valuers in the entire process of conveyancing. The main reason why a property is bought or sold is to enjoy some benefits and ensure that both the buyers and the sellers get some tangible value out of the whole transaction.
Towards this objective, it is very important to understand the role of property valuers. Their main job is to ensure that the buyers in particular are reasonably sure about the fair market value of the property that they are planning to purchase. Apart from helping the buyers with the valuation report, they also play a host of other important roles. They help the authorities in getting a fix on the property value, stamp duty value just to name a few.
Apart from the important role of valuers in the entire buying and selling process, we should also bear in mind the critical role played by real estate lawyers and attorneys. Their role is indeed very vital because they look at the legal purity of the property in question. They take lot of steps to ensure that the property belongs to the rightful owner so that the buyers will not have to face problem over a period of time. They also ensure that the property is free from any sort of encumbrances, easements and covenants that could impede or hinder the undisputed ownership of the property as far as the seller is concerned. Hence, the role of conveyancing is indeed very important when buying and selling real estate properties.
What Exactly Is Conveyancing And Why Is It Important
June 3, 2014
To understand the importance of conveyancing it is important to look at the various steps that form a part of it. For example, there could matters related to measuring and physically checking the property in question. This could be handled either by property lawyers and attorneys or valuation specialists. Then there could be the need for having a look at the various easements and other covenants which could impact the clean title of the property in question. This would call for scrutinizing the property documents in great detail which again can be done only by professionals having the right experience and expertise in this field.
Drafting sale deeds and agreements is another important part of conveyancing which calls for having the right kind of expertise available at your side. Hence you have to fall back on conveyancing professionals to get the job one properly and that too within a stipulated period of time. Conveyancing also calls for frequent interaction with the government authorities and examining and looking up important legal and property documents. For example there could be the need to look up the entire list of persons who had at some point in time been owners of the property. This would call for looking up old records and ensuring that each transfer of ownership has happened properly and there are no loose ends or break in continuation.
Taking the above points into account, it is extremely important to hire the right conveyancers who have the required experience and expertise apart from possessing a good reputation and goodwill. They should also be reasonably priced in their services without compromising on quality.
Importance Of Information On Matters Related To Conveyancing
May 7, 2014
Conveyance is nothing but the role performed by a qualified and experienced professional who hand holds a buyer or seller in all the matters related to change of ownership from one entity to another. There is no doubt that conveyancing involves a lot of documentation and other legal matters and therefore it is important to have a clear understanding of the same. An enlightened and informed customer is the one who will be able to take the best out of conveyance professionals and ensure that he gets full value for money.
To begin with customers should know as to when they should seek the services of these professionals. As mentioned above whenever there is a buying or selling involved, or whenever there is a need to subdivide land then the need for these professionals becomes very important. Further there could also be the need to update information with the government authorities. A typical example of updating is when there is a death of the owner of a property.
Apart from preparing the various documents that are required for transferring ownership from one person or one entity to another, there are other important roles too that are performed by conveyance professionals. The most import task is to research the property in question under various parameters and ensure that it belongs to the owner who at times could be the seller of such properties. He also ensures deposit of money into a trust account wherever there are trusts managing various types of properties.
Hence there is no doubt that the role of a conveyancing agent is very important and critical for the smooth transfer of property from one entity to another. If you are either a buyer or seller you should take all necessary steps to ensure that you are taking the service of the best conveyance in the area.