Do I need a conveyancer to sell my house?
A conveyancer or solicitor is not legally required to sell your home in Qld, however, for us, it is far too risky to represent yourself in the transaction. A property transaction involves large sums of money and a good solicitor/conveyancer can save you both time and money plus reduce your risk!
There are two main types of conveyancers; solicitors and non-solicitors. Both offer expertise in real estate law, property transactions, and legal issues related to selling a home. The conveyancing process involves documents such as contracts, deeds, mortgages, and title searches. This includes making sure that there is a clear title to the property.
Maintaining the documentation and settlement of your property sale/purchase requires expertise that may be challenging, and those who are knowledgeable about legal paperwork and legislation can provide you with peace of mind and ensure a smooth transaction.
The process across Queensland involves the same legal procedures. It is illegal for a licensed conveyancer to own conveyancing companies in Queensland. All paid work has to be conducted by a law firm, and there must be compliance with the Legal Profession Act, also being regulated by the Legal Services Commission and Queensland Law Society. Licensed conveyancers can work at the aforementioned conveyancing companies however, they must be overseen at these companies by solicitors.
Some of the most important reasons to hire a conveyancer or solicitor:
- May assist in the preparation of legal documents such as the Contract of Sale
- Can conduct all title and planning searches as part of due diligence and provide figures for the final settlement statement
- Can arrange for a land survey to confirm that the property’s borders are appropriately reflected
- Can check with the local government to see if your home complies with construction codes
- May represent you in negotiations with the buyer, may assist you in negotiating contract conditions
Should I use a solicitor or conveyancer?
The short answer is that it depends on your personal situation and maybe even the type, cost, and simplicity of the property transaction too!
Before determining whether a solicitor or conveyancer is best, get the similarities out of the way first. Both will handle contracts and give legal advice on how to proceed with your acquisition or sale. Both will deal with local registries and councils, and both will ensure that the money being paid for the sale/purchase is successfully transferred to the property.
Solicitors and conveyancers can also assist with the preparation of contracts and deeds, which are legal documents required to effect the transfer of title, and both will usually charge a basic fee based on the value of the property involved. However, the cost of employing a conveyancer may be offset against the purchase price of the property/risk associated with the transaction.
Both will also check the title deeds of the property to make sure that nothing has been missed out. If there are any problems found, the conveyancer will inform the buyer and seller of these issues. If you are not able to complete the transaction within the agreed timescale, the conveyancing team may suggest an extension of the deadline.
At imsold Property, as we work through preparing & selling your home with you, we will also work hand in glove with your solicitor/conveyancer to ensure that they have all the information they need to ensure a smoother transaction. We can also suggest trusted & friendly local legal representation (both solicitors & conveyancers) for your next transaction too.
If you would like to get a free appraisal of your property in Noosa or the surrounding areas please contact our Principal Agent Andrew Johnson