What do you need to look out for when Buying a Property?

The settlement process is a complex task which includes various financial and administrative duties, so, you will need the right person to help you navigate any potential pitfalls.

What is Conveyancing?
If you are a first-time home buyer or property investor, you might not have come across the term ‘conveyancing’ before. Similarly, terms such as unconditional settlement and ‘cooling-off’ period are also some terms you may not be overly familiar with. Conveyancing is the process of transferring ownership of a legal title of land to the new owner, whether it be a from a person or entity.

Why should I engage a Solicitor for my Conveyancing Matters?

In general, solicitors have specific knowledge about property law but also broader knowledge of the law in general. Some of the benefits of leaving your conveyancing matters to solicitors are as follows:
• Solicitors are bound by much more onerous ethical and professional responsibilities and owe a greater duty of care to their clients than Conveyancers.
• Solicitors are better equipped to deal with pre-contractual negotiations and disputes.
• Solicitors are also qualified and required to advise you broadly in relation to contract and property law, asset structuring, asset protection, estate planning and tax law issues when engaged to act in relation to a property transaction.

Here at Straits Lawyers, we can assist you with all legal matters associated with the sale or purchase of real property. If you are looking to purchase or sell your property and would like to find out more about your rights and options, Straits Lawyers are here to help. Simply send us an email at info@straitslawyers.com or give us a call on 8410 9069 to arrange an appointment for an online interview.

Alternatively, if you would like to conveyance a property, Straits Lawyers are now offering online services at https://straits-lawyers.square.site/product/conveyancing-/2?cs=true.

Please note that this article does not constitute legal advice and Straits Lawyers will not be legally responsible for any actions you take based on this article.