Step 5: Legal Representative
A Solicitor or Conveyancer will look after the following on your behalf:
• Prepare or Review the Contract
of Sale
• Organise the title search for the
proposed property to that all the
details on the Contract of Sale
are correct
• Check if there are any existing
mortgages or caveats registered
on the title of the property
• Protect your interests during the
sale
• Calculate any adjustments to
taxes, council & water rates
• Arrange, attend and complete settlement on your behalf
• Carry out any applicable conveyancing duties on the property
While you’re home hunting, it may be wise to find a legal representative (conveyancer) who will ’translate’ the formalities of a legal contract into simple terms.
You can ask friends and family to recommend someone or if you know of local legal firms check out a few of them to get a comparison.
Get a clear understanding of what their fees will be and what their services include. Beware of hidden costs such as photocopying and phone calls. Also, make sure they’re covered by Professional Indemnity Insurance. This means that if a mistake is made on the part of the solicitor, you may be able to seek compensation.
If you require any assistance finding a Solicitor in your area, you can contact the Law Society in your State. Alternatively, if you’re looking for a Conveyancer, you can contact the Australian Institute of Covneyancers.
A Solicitor or Conveyancer will look after and
protect your best interest
during the process of purchasing your
first home.
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