Conveyancing covers buying and selling real estate. Whether you have found your dream home, the perfect office or whether you are selling for a fresh start. But there is more to conveyancing and property transfers than just buying and selling your family home.
Conveyancing, regardless of which side you are on, is stressful. There are lots of deadlines, complicated contracts and dealings with agents and lawyers. It is easy to get overwhelmed with the process, particularly when dealing with work, family and the rest of your life at the same time.
But having thorough advice and experienced people on your side can make a big difference.
There are lots of ways to buy and sell and lots of types of properties, all of which have different rules and requirements. Knowing what these are and how they affect you is critical.
For example, you can buy an existing property or one that is off-the-plan. You can buy vacant land and subdivide it through a property development. You can sell vacant land, a house and land package or land with buildings already in place. The property might have building covenants or be subject to a lease.
There are also lots of different types of properties, everything from freestanding houses, community title properties (a property where you have the use of common areas with other owners, such as a unit), rural properties, commercial or industrial properties and retirement home properties.
Many people buy real estate as an investment. The considerations you look at when investing in real estate are different to those when you are buying a home for yourself. You can even buy property through your self-managed super fund (SMSF).
If you are considering a move into a retirement home, this type of property transfer is wildly different to your regular conveyance so advice before you sign up is vital.
Leases are also a type of property transfer in that they transfer the rights to use or occupy a property. A lease is usually setting up a long-term relationship so it pays to get the parameters right from the start.
Regardless of how your conveyance or property transfer has come about, when making such a big investment, you will want to know what your rights and obligations are from the start so that you can make informed decisions. Having an advisor to step you through the process is invaluable in helping you have a positive experience.
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