Do You Need Legal Advice
As a first-time buyer, it is advisable to get plenty of professional help. On the other hand if you are an experienced buyer, a lot more options are available to you. Conveyancing is becoming more straightforward. Nowadays, complex old Torrens system, stratum and company titles are very rare. Vendor statements or section 32 provides purchasers with vital information about the property.
If you are a first time buyer, legal terms might be intimidating or appear totally foreign to you. Therefore, it is advisable to get your lawyer to go through the contract of sale and vendor statement to ensure that everything is in place for a smooth transaction and to bring to your attention of discrepancies if any. Even though much of a property transaction requires only clerical skill, complex and potentially costly problems crop up often enough to make oversimplifying any transaction a gamble.
Choose a cost-effective legal adviser for your first purchase. Ask around to find out if your friends or relatives have a solicitor or conveyancer that they use regularly and get them to recommend if they were satisfied with their professional services and have had good past experiences dealing with them. An efficient and cost-effective legal advisor might save you thousands by preventing unfavourable transactions and when dealing with disasters if any.
The legal advisor whom you have chosen should have ample experience with all aspects of property transfer, provide practical and effective solutions to the numerous problems and hold their own indemnity insurance to cover any negligence on their part in the transfer.