Why do you need a conveyancer when you’re buying or selling a property? Is it possible to do it yourself instead? While it may seem appealing to skip the conveyancer fees and save yourself some money now, you might be putting yourself at risk in the long-term.
Plus, there are so many moving parts involved with a property settlement, document deadlines and legal jargon to wade through. Who can honestly say they have time for all that?
Ultimately, it’s a call that only you can make. So, to help you answer the question “why do you need a conveyancer?”, we’ve outlined some considerations below.
What is a conveyancer?
A conveyancer is someone professionally trained and qualified to handle the process of transferring ownership of a land title to a new owner. This means they will:
- Prepare all the relevant documentation
- Perform searches on the land title
- Either create or review contracts of sale
- Offer you advice, review the information on your contract and Form 1
- Facilitate the settlement process using the electronic-conveyancing workspace
Learn more: what does a conveyancer do?
Why do you need a conveyancer?
There are a number of reasons why you might need to engage a conveyancer, such as:
- Buying or selling your home privately or through a real estate agent
- Developing your property through residential land subdivision
- Transferring property and assets between family members, business partners and defactos
- Changing title details
- Creating caveats or private mortgages
- Settling the purchase or sale of your business
While it is technically possible to do your own conveyancing in SA, it’s not recommended. As with most legal transactions, conveyancing can be complicated, time consuming and laden with legal jargon and fine print. More on this below.
How important is a conveyancer?
When it comes to selling or buying a property, most people don’t realise how much actually goes on behind the scenes. There’s legal documents, administrative tasks, communicating with multiple different parties, checks for easements, covenants or property caveats and so much more. And if you are buying a property, this will probably be the first stage where you’ve had someone acting in your best interests.
A conveyancer is the key to stress-free, seamless property settlement. Without them, there’s the risk of serious mistakes being made. Not to mention, there’s all the other logistics of moving and property ownership to contend with once the property is settled!
Experienced conveyancers in Adelaide
Whether you’re a first home buyer or you’re buying a subsequent investment property, Eckermanns is here to help. For over 45 years, we’ve been helping South Australian residents with their real estate transactions. Get in contact with us today.
Can I do my own conveyancing when buying?
Technically, yes. It is possible to purchase a conveyancing kit that can help you transfer a land title. However, it is highly recommended that you engage a conveyancer instead. If you don’t have any experience, conveyancing can be extremely complicated and there’s lots of legal jargon you need to wade through. Plus, you put yourself at risk of making a mistake that could end up costing you thousands in the long run, for example, you might miss an encumbrance or caveat that’s on the property.
Do you need a conveyancer when refinancing?
No. If you are simply moving to a new lender or negotiating a new loan with your current lender, you do not require the assistance of a conveyancer. The process can be dealt with by your financial institution.
Can you buy land without a conveyancer?
Why do you need a conveyancer for buying land? Buying land still involves the preparation of legal documents and contracts and the transfer of ownership, so it’s best to leave it to the professionals.