The Role of a Conveyancer When Acting for a Buyer
In the last instalment of my blog, I outlined the role of a solicitor when acting for the buyer.
The role of a solicitor or conveyancer when acting for a buyer in conveyancing is basically as follows:
To obtain instructions from the client about the property being purchased, the source of finance or funds to purchase the property, and any special arrangements agreed with the seller or vendor eg early access to the property prior to settlement, a deposit of less than 10% etc
To review the proposed contract for sale on behalf of the purchaser to ensure that it reflects the agreement reached between the parties. It is also necessary for the solicitor to check the title documents contained within the contract and to ensure that the contract does not contain any onerous provisions.
- To give advice to the purchaser as to the contents and meaning of the contract
- To order any pest and building or strata inspections required by the buyer
- To liase with the buyers lender to ensure that the finance is approved
- To arrange for an exchange of contracts for sale ie this is a physical swap of the contract for sale signed by the seller with an identical contract signed by the buyer.
- To conduct all of the post exchange searches and checks with respect to the property and its title
- To send requisitions on title to the seller’s solicitor and to respond to any correspondence sent by the seller’s solicitor
- To deal with any problems or difficulties which might arise during the settlement period eg a default by the seller, damage to the property, problems with loan documents. When these arise they can be very stressful and it is important that you select a competent solicitor who will act in your best interests in a timely and effective manner
- To arrange for the settlement of the purchase
- To report to the purchaser at all stages of the transaction.
Importantly, you should note that it is not your solicitor or conveyancers job to assist you in:
- Assessing the value of the property you wish to purchase. Solicitors are not qualified to assess the value of a property or to provide you with investment advice. Any solicitor who purports to do so should be avoided!
- Determining the merits or problems identified in building and pest reports. Solicitors are not qualified builders or pest inspectors and should not be expected to provide advice about technical building matters.
At clickconveyancing, we employ experienced solicitors who are passionate about property and conveyancing. We have become experts at servicing clients buying property as is evidenced by our glowing conveyancing testimonials.
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