Protect your interests with a qualified property law professional on your side
Whether you’re buying or selling a property, there should be a lot of careful planning involved. You need to consider all your circumstances. If you have even the slightest doubt about the legal proceedings around a property transaction, you should involve a legal professional like a property lawyer.
With the combination of the specialised knowledge you get with a licensed conveyancer and that of a property lawyer, you can be certain that your property transaction will be tailored to your specific needs. Even the needs you may not have considered yet. Luckily, you only need one. That’s because a property lawyer can perform all the same tasks as a conveyancer. However, it doesn’t work the other way around.
There’s so much more to buying or selling property that doesn’t just involve the transaction itself. When your property transaction is done properly, you need to address issues that may arise with asset protection, estate planning, and ownership structure. You need to ensure that the property transaction will contribute to your long-term goals.
Thorough research
Unfortunately, the real estate industry in Australia can have its fair share of scammers. If you don’t have the time to properly research and survey a property, you may not even realise you’re being scammed. Sometimes it’s not even a scam you need to look out for. In some cases, there may be aspects of the property that just haven’t been accurately advertised or covered in legal documents.
A property lawyer has the legal knowledge and experience to know what to look for in a property when you’re considering buying it. They can run a full background check on the property leaving no stone unturned. Their research will include the title search process. They will also make sure you’re dealing with a legitimate selling party. If they discover anything that doesn’t sit right with the law, they will tell you immediately and provide sound legal advice to protect you from it.
2. Professional and legal advice
One of the biggest disadvantages of using a Property lawyer over a conveyancer is that they are permitted to give you legal advice. A traditional conveyancer is not permitted by law to give you legal advice and therefore they can’t protect you if they come across something suspicious about the transaction.
A property lawyer will also run you through all the legal documentation processes involved with a property transaction. They can run through the contract of sale with you, the process for house inspections, and the remainder of the legalities involved with a real estate transaction.
3. Negotiating for you
Your property lawyer can help you navigate or even negotiate on your behalf when it comes to the entire property buying or selling process. One of their main goals throughout the process is to make sure that you get the best deal and that your best interests are protected. If there are elements of the transaction that don’t sit well with you, your property lawyer can help take care of them too.
There may be elements of the small print in the contract of sale that you don’t agree with. Your property lawyer can negotiate on your behalf and help come up with a practical solution that both parties of the property transaction can agree on.
4. Drafting a contract that benefits you
During a property transaction, a real estate agent operates as an independent contractor. Many of the things they do during a property transaction are really for their benefit, not yours. So it’s very likely that they will draft up a contract of sale with their best interests in mind. So in this scenario, who’s looking after yours?
On the opposite end of the spectrum, a property lawyer will look after your best interests. Why you may ask? Because it’s their job. It’s part of their service offering to help strike a deal that benefits you, not the real estate agent or the other party involved in the property transaction. Your property lawyer will review all the small print across the contract of sale to ensure that every line and agreement aligns with your interests.
5. Saving you valuable time
It may seem like an obvious benefit now but few people fail to realise just how time-consuming a property transaction can be. Carefully reviewing and signing property transaction documents takes a lot of time. If there’s an element of negotiation involved, this can only add to the time it takes to get a property transaction over the line.
Your property lawyer can take care of all these review tasks for you. After they learn about all of your worries and considerations for the property transaction, they can quickly review the property transaction documents for you. If they find anything that may concern you, they can share them with you on a shortlist. Reviewing this shortlist won’t take anywhere near as long as reading through all transaction documents.
Talk to P&B Law today for all your property conveyancing needs
Here at P&B Law, we have a dedicated team of property law specialists who can guide you through the entire process of a property transaction. Whether you’re buying or selling property, our property lawyers will take your best interests into consideration as they carefully review all the legal documents that come along with your property transaction.
So if you’re ready to commit to purchasing or selling a property, talk to our property conveyancing experts today. Start the conversation by calling 1300 526 246 or head to our contact page where you can send your query straight to our team.