Buying your very first home can be an exciting milestone, but it still comes with the hassle of navigating the legal conveyance process. There’s no doubt that conveyance can be a confusing process for people who have never bought a home before. Here are 5 tips that can make the whole conveyance process easier for new home purchasers:
1. Research the Conveyance Process
Before you go ahead and proceed with the home-buying process, you should research and understand the conveyance process. This will help you make informed decisions, avoid potential pitfalls, and get the property transferred under your name safely.
If you’re not sure of how the process works, you can read about it on the internet. Generally, the whole conveyance process can take around two to three months to complete. Your solicitor will handle most of the work including conducting searches, drafting and exchanging contracts, and the completion.
2. Consult a Professional Conveyancer
When it comes to conveyancing, it is important to consult a professional conveyancer. Since it is a legal process and requires attention to detail, it can be difficult to handle by yourself. A professional conveyancer on the other hand will handle all the legal aspects of the transaction, ensuring the proper drafting, review and signing of the documents.Â
Other than this, conveyancers also take the responsibility of tackling potential issues such as disputes or outstanding payments that may impact the title of the property. Not only does a professional conveyancer protect your interest throughout the process, but also provides the peace of mind that the process is being handled by someone who has experience in it.
3. Read Documents Carefully
Even though your conveyancer will be handling most of the documents drafting and reviewing, it is important to review and read the documents carefully before signing. This is especially important for documents such as sale contracts, mortgage deeds, and transfer documents. Make sure you understand your obligations completely. If you have any confusion, don’t hesitate to ask your conveyancer.
4. Stay on Top of Requests
During the process, your conveyancer will require all various funds and information from you. Make sure you stay on top of requests and respond to the fund requirements and compliance requests promptly. Some of the requirements may include deposit requests, signing indemnity forms, etc. By fulfilling all the requests on time, you can expect the process to be completed within the given timeframe. Delays on the other hand can impact completion.
Other than this, transactions can sometimes be delayed due to unforeseen issues. So it’s better to have a buffer on your moving date and set some money aside in case you temporarily need to extend the lease at your old rental.
5. Plan Your Moving Timeline
Though the timeline of the conveyance process completion differs for everyone, you’re likely to have a rough idea of when you’ll get the keys. Make sure you plan ahead of time. When it comes to moving, there’s a lot you need to take care of. This includes lining up movers, getting the utility connections, etc. To avoid further delays and make the process smoother, start planning the move at least 1-2 months in advance.