Learn how to choose the right professional for your property transaction
When you’re buying a property in Melbourne there are a lot of legal documents and processes to consider. Hiring a real estate professional can help you get through all these legal requirements for buying or selling a property. You can choose between Conveyancers or Property Lawyers in Melbourne.
The process of going through the legal documentation for a property transaction is called conveyancing. Both Conveyancers and Property Lawyers are qualified to assist you during a conveyancing transaction. So the big question on a lot of people’s minds is which one should I choose? Conveyancers or Property Lawyers in Melbourne?
While both options seem the same, it’s important to note that both professionals have different qualifications and areas of expertise. Some property transactions can use both. What you really need to understand is what scenario calls for Conveyancers or Property Lawyers in Melbourne.
In some cases, it depends on the complexity of a property transaction. If there are elements of a contract of sale you don’t understand then it may be best to consult a Property Lawyer to explain them for you and provide legal advice. Choosing one over the other can help you save money on a property transaction. In some cases, your choice of a conveyancing professional can protect you from any legal issues that may arise later on.
In this article, we’ll break down different scenarios that require both professionals. With the right knowledge, you can make a more informed decision about choosing Conveyancers or Property Lawyers in Melbourne.
What can a Conveyancer do?
A Conveyancer can handle all aspects of preparing legal documents for a property transaction. So they can assist you whether you’re a property buyer or seller. A Conveyancer will ensure all documents comply with the legal regulations for Victoria. These documents include the contract of sale and home loan documents.
There is also a fair amount of research a Conveyancer is required to do. For example, if you are the buyer, a Conveyancer will have to research the property and its certificate of title. They are also responsible for placing your deposit in a trust account and contacting you when the bank or financial institution confirms final payments are made.
If you are selling a property, a Conveyancer can carry out checks such as confirming that the seller is the legitimate owner of the property and ensuring payments are made for deposits and stamp duties. Conveyancers can also give you advice on conditions of the sale which could help protect your interests during the property transaction.
Qualifications
A Conveyancer is a professional who is specifically trained to handle the transfer of property from one person to another. As a minimum requirement, they must have a diploma and conveyancing licence in order to operate in Victoria. This conveyancing diploma only needs a year of study before a full year of supervised training.
What can a Property Lawyer do?
A Property Lawyer is a more general legal practitioner. They may have qualifications in other areas of laws but they will definitely be qualified to conduct your conveyancing. Property Lawyers have experience in property law in addition to the specialist knowledge required to handle a property transfer.
When it comes to what a Property Lawyer can do for you there is a main point of difference when it comes to legal advice and representation. A Property Lawyer can provide you with legal advice on the wider implications of your property purchase. Property Lawyers can also provide you with legal representation if any aspect of your property transaction ends up in court. A Conveyancer is not permitted to do either of these things.
Qualifications
You will need to complete a Bachelor of Laws or Juris Doctor degree to join the elite group of Property Lawyers in Melbourne. A Property Lawyer also needs to complete a graduate diploma in practical legal training. Finally, you must apply to the admissions board for Victoria and be accepted in the profession in order to become part of the select group of Property Lawyers in Melbourne.
How do I choose which option is right for me?
Every property buyer or seller’s needs are different. There is no one option that suits everyone. Everyone has a budget and every property comes with its own set of legal requirements big and small. So when it’s time for you to make a decision, consider your budget. Think about the complexity and size of the transaction. The property type can make a transaction more complex.
Are you part of a property transaction where you may need legal representation? Then you’ll be in safer hands with a Property Lawyer who can represent you in case any legal issues arise during your property transaction. A Property Lawyer should also be able to identify any legal issues that may arise by reviewing the property transaction documents. With forewarning like this, a Property Lawyer can save you thousands by helping you avoid a dodgy property purchase.
If you are confident that a property transaction will simply require an exchange of documents without any legal issues, then a Conveyancer will be fine. But to be on the safe side it’s always best to choose a Property Lawyer to help protect you from any issues that may arise from a property transfer.
Get expert advice from P&B Law’s Property Lawyers in Melbourne
At P&B Law, property law is one of our main areas of expertise. Our Property Lawyers can assist you with a wide range of areas including property conveyancing, property development, commercial leases, and property settlement. We believe every property transaction big and small requires the best legal representation.
Mistakes can be costly during a property transaction. That’s why we believe that property conveyancing is best left in the hands of our qualified and experienced. Property Lawyers in Melbourne. Our Conveyancing team will give your property transaction the attention it deserves. All checks will be carried out correctly and property transfer documents will be reviewed thoroughly.
Ready to buy or sell a property? Legal document reviews and transactions are best left to the experts. Contact our conveyancing team today for expert advice on your next property sale or purchase.