When you’re diving into the complex world of real estate, especially in South Australia, having an experienced conveyancer by your side is like having a trusted advisor. Whether you’re buying, selling, building a house, a property conveyancer plays a vital role in safeguarding your interests and ensuring a hassle-free experience. In this article, we delve into the significance of a conveyancer within the context of constructing a house, uncovering the intricacies of the process and highlighting the advantages of their participation.
Building a House: A Different Scenario
Constructing your dream home is an exciting venture, but it presents a unique set of challenges compared to purchasing an existing property. When you purchase an existing property, you can see the finished product straight away. You can get some idea of the finished product by researching display villages to see the house-and-land packages available to you.
When you are purchasing House and Land, there are two contracts involved. Your conveyancer will assist you with the process of transferring legal ownership into your name. The vendor is the entity or person who owns the land and the builder (who may or may not be same) is required to build your house according to the specification of the separate building contract. Building a house involves additional layers of intricacies, such as obtaining the necessary permits, adhering to zoning regulations, and managing construction contracts. An experienced conveyancer who is well-versed in the realm of building can help you navigate these distinct challenges.
The Conveyancing Process
The conveyancing process for building a house is a multi-faceted journey that encompasses various stages. From the pre-contractual phase to post-completion, each step is crucial to successfully transfer the ownership of the land and move to the next phase which is the construction of your dream home.
- Pre-purchase Phase:
- Title Search: Conducting a thorough check of the property’s title and to confirm ownership details and identify any encumbrances.
- Land purchase Phase:
- Review of Contracts and Form 1: Guiding you through any implications of the building process, including contractual obligations and potential liabilities.to ensure clarity, fairness, and alignment with your interests.
- Verification of Identity: In South Australia, the Registrar-General is responsible for providing the framework for verification of identity. Whomever is verifying the identity must be satisfied that the documents provided for identification are current and authentic.
- Settlement Phase:
- Financial Facilitation: Liaising with your financial institutions and overseeing your transactions and disbursements required for the property transaction.
- Documentation: Ensuring the proper filing and lodgement of legal documents using PEXA with relevant authorities like Revenue SA, Land Services SA, councils and your financial institution.
The final phase is the construction phase. Your conveyancer is not involved at this stage, and we recommend that you have your building contract reviewed by a qualified legal practitioner before signing a building contract.
When You Might Need a Conveyancer
It is never too early to engage a conveyancer. We advise initiating this process as soon as you begin your search for a property or land that you intend to purchase or at least prior to making any offer on a property, land, or participating in an auction. Your conveyancer can review your land contract and Form 1s which will prevent you from any misunderstandings and disputes down the road. As we mentioned, you should consider engaging a review of your building contract by a qualified legal practitioner.
Embarking on the journey of building a house requires not only vision but also meticulous legal oversight.
Eckermanns has been dedicated to guiding clients through a diverse range of property transactions for over 45 years. With a seasoned team of property conveyancers and property lawyers within our sister companies Eckermann Lawyers, we can help ensure a seamless and sound process.
Contact us today to discover how we can help you turn your dream home into a concrete reality.