People frequently hear horror stories about unwitting buyers who discover the property they purchased had hidden problems. Dinner party stories are also full of vendors who were less than truthful. Often the story end happily, with the storyteller announcing their lawyer informed them about discrepancies and they avoided the entire situation. However, what if the storytellers had not hired a lawyer, where might they be now?
When a property is sold, the legal act of transferring ownership is called property conveyancing. It is not a simple process, and it is highly recommended that you employ a professional property lawyer to guide you through the entire process. Real estate legal jargon can quickly become confusing, so it is important that you engage an experienced and trusted lawyer.
At P&B Lawyers, we are experienced property lawyers for Melbourne property conveyancing. Before signing any contract of sale, we recommend you consult our experienced team to avoid any hidden pitfalls or unfavourable contract terms.
What will a property lawyer in Melbourne do?
Conveyancing contains several important steps which a property lawyer will guide you through.
- The first step is to prepare and review all the necessary documents with your lawyer. Your lawyer will also advise you on the content to ensure you understand all the jargon and can make informed decisions.
- The lawyer should also research the property being purchased and investigate any issues that arise. These issues could include items like boundary uncertainty, leases, environmental issues and a number of other factors. As experienced property lawyers in Melbourne, at P&B Law we are also aware of local concerns, including council regulations and potential developments around the property neighbourhood.
- Your lawyer will place the deposit in a trust account to ensure it is protected before settlement. They will also calculate all the upcoming costs, including stamp duty, fees, taxes and their own legal fees, so you are not surprised by unexpected additional costs.
- Finally, your lawyer will ensure the property is settled correctly. At P&B Law we liaise with all parties to the transaction including the bank, estate agencies, government agencies and vendor’s lawyer. We communicate with all the necessary bodies so you can rest knowing that the title of ownership will be successfully transferred to you.
Reduce the risk by hiring experienced property lawyers for Melbourne property purchases. Contact us at P&B Law for your free consultation today.