Legal Transfer of the Property Ownership by Yourself or a Conveyancer?
“Is there any obligation to hire a conveyancing solicitor to oversee the legal transfer of the property’s ownership from one party to another?” A common question usually comes across the minds of a lot of property buyers and sellers.
It totally depends upon the circumstances that whether you need a conveyancer or not. Although you can also do conveyancing by yourself, yet it is most likely that you will end up running a few risks of getting overhead expenses especially if you are doing without proper guidance. Have a quick glance at the situations where doing conveyancing by yourself can be proved beneficial or detrimental.
Do not try conveyancing by yourself in such situations:-
- Buying property through a mortgage
If you are planning to buy a property through the home loan, you need to show the proper representation in front of your lender. Thus, you need a conveyancing solicitor who will act for you as well as the lenders.
- Selling property with outstanding mortgage
If you are selling your property, but still you have not fully paid your mortgage, conveyancing will be difficult for you. The buyer’s conveyancing solicitor will depend on your conveyancer to repay the mortgage thus providing the discharge documents.
Situations in which you can do conveyancing by yourself:-
- If you are selling a property without any outstanding mortgage or buying without having to take out one, you can do conveyancing by yourself.
- You can also go for conveyancing by yourself in case of deeds of gift and transfers of equity without the mortgage involved.
From where can you seek help?
Once you have decided to do conveyancing in Australia on your own, you will find that internet and other communication channels are quite helpful to carry out the tasks that you can perform just as the licensed solicitors did in the past.