If you are thinking about buying or selling residential properties then you need to hire someone to help you with the process. On the other hand if you want to use the building for a business purpose then you must consider hiring a commercial conveyancer.
The conveyancing process in Gold Coast
The whole process can take anywhere between 8 or 12 weeks but it actually depends upon the circumstances in which the property is being bought or sold. When the property is transferred from one person to another it is important that all legal matter should be taken into consideration. This is why it is important that you hire a property solicitor or conveyancer who would be able to understand the process.
The first thing that you need to do is to ensure that the offer which you have accepted is a legal one. For this you would need to talk to a solicitor or a conveyancer. Once you have agreed upon the sale, the estate agent will then supply a memorandum of sale to both the parties. The memorandum will contain the details of the transaction so that the solicitor as can start the process. Once your lawyer has got the green signal they will start with the process. They will make sure to open a purchase file for the new property and also send you a letter so that they can explain that terms of business. You would be requested to provide your ID or get evidence of the source of funds. Additionally you would also need to complete a questionnaire, where you can ask queries which you have regarding the property with the fixed fee estimate which is based up on the information that you have provided. However the cost of the whole process can change if the legal works becomes detailed.
The next step will be your solicitor drawing up the draft or contract from the sellers solicitor. The whole contract pact would be made up of a number of documentations which would include the draft contract, the office copies and the title plan. It would also have all the property information in the form of a property information form and another form known as the fittings and the contents form. This means that the seller will confirm all that has been left at the property for example washing machine or any other appliance. It will also have an energy performance certificate or any supporting documents which would comprise of warranties in guarantees for planning permissions as well as building regulations copy of the lease which will have key information from the landlord.
The conveyancer will then conduct searches. This is one of the most important aspects of the property. The searches are carried out on most properties in the form of a local search. This is a confirmation if the road on the property is maintained by the local authority or if it is a private property. Here you will also get to know all about the planning in building regulations. The next step is the drainage search which will ensure that all the drains are maintained by the water board or if those are private. An environmental search will provide details regarding the property and the surrounding areas which might have caused contamination in the land.
Conveyancing is a long process, and this is why it is necessary that you hire a conveyance lawyer from Marino Law in the Gold Coast.