Conveyancing lawyers provide property law solutions that address a range of matters, such as ownership transfers, document preparation and essential searches.
They may also assist if there are any disputes with neighbours or planning restrictions on the property you are buying.
They can also create a ‘pre-contract pack’ of up to date official copies of the freehold Title Register and filed Title Plan stored at HM Land Registry, which are essential for verifying ownership of a property.
Buying a property
Once you’ve identified a property to buy, a licensed conveyancer or solicitor who specializes in residential property law must complete the purchase. They can help negotiate all aspects of the sale agreement such as price offered, ownership type (freehold/leasehold), and whether closing is conditional upon obtaining a mortgage.
Your conveyancer should also send you a ‘pre contract pack’, which includes official copies of the freehold title register and filed title plan held at HM Land Registry. Furthermore, any legal charges or notices registered against the title should also be included in this pack.
Your conveyancer will then contact your lender to obtain the pay-out figure from your mortgage, attend a settlement to provide discharge of the debt and often a certificate of title deeds as well, then prepare a completion statement which outlines all payments necessary throughout the transaction (including conveyancing fees).
Selling a property
When selling a property, it’s essential to comprehend all legal ramifications. These can be intricate, so working with an experienced property conveyancing melbourne solicitor is recommended.
You may need to obtain a Land Information Memorandum (LIM) for the property you’re selling, as well as an appraisal and builder’s report, if needed. These will help the solicitor identify any issues which could affect title or value of the property being sold.
Once the property has been listed, you’ll need to begin negotiations on price and conditions of sale. This can be a stressful process with multiple offers; however, your lawyer will assist in negotiating these terms and provide any additional research needed.
Refinancing a property
Refinancing a property can be an attractive option for homeowners with significant equity who wish to reduce their mortgage rate, shorten the loan term or take cash out of the property. But before making your decision, it’s essential to fully comprehend both its advantages and drawbacks.
A lawyer experienced in property law services and conveyancing can guide you through the process of refinancing a property. They take away much of the complexity from it, while also being able to detect issues which may not be apparent to an average person.
Refinancing a property requires the same type of documentation as purchasing one, but also more complex steps and requirements. A lawyer will guide you through each stage, answer your queries, and guarantee that everything runs smoothly throughout.
Transferring a lease
If you are a renter looking to relocate, transferring your lease may be an option. However, this can be a complex process that necessitates much effort on your part.
Before you begin the transfer of your lease, consult a property law specialist for guidance. Doing so can save time and money in the long run.
A lease is a legal agreement created between the property owner (known as the lessor) and their tenant (referred to as the lessee). It grants them permission to live in the house for an agreed-upon period of time.
