The Conveyancing Sunshine Coast process is a long road of paperwork, confusing legal terminology and legal intricacies.
While a reliable solicitor can guide you through the Queensland conveyancing stages, you should have an idea of how it all works before you begin your property transaction.
A 10 Step Guide to Conveyancing Sunshine Coast
Every property transaction is different. Generally, though, the conveyancing process involves ten stages:
- Draft contract – The seller’s Conveyancing Sunshine Coast solicitor begins to draft a contract to outline the particulars and conditions of the transaction.
- Preliminary enquiries – The buyer’s solicitor conducts investigations of the property and the vendor.
- Land charge and registry searches – The buyer’s solicitor will obtain the title deed and Registry certificate. These ensure that the vendor is aware of the specifics of the property they are buying, and also proves that the seller is the legal owner: the solicitor will also carry out a background search on the vendor to ensure that they are not bankrupt.
- Survey and local authority checks – The property in question will be surveyed: checks will be made to determine that state of water drainage systems; whether there are developmental sites nearby; and whether the property has any building restrictions.
- Approval of draft contract – While the property is undergoing checks, both the vendor’s and the buyer’s solicitors will continually negotiate the details of the contract. Once both solicitors are satisfied, the contract is official and must be signed.
- Formal mortgage offer – If the buyer is taking out a mortgage, a formal mortgage offer will be required at this stage, and the buyer will have to sign a mortgage deed.
- Exchange of contracts – When the contract is signed, then paperwork must be exchanged. The buyer must place a deposit on the property and arrange a date for the completion of sale. This date is included within the contract.
- Outstanding payments – Any outstanding payments should then be settled before the date of completion. These payments include stamp duty, legal fees and Land Registry fees.
- Date of Completion – On the specified date, the buyer’s mortgage company will transfer the money to the individual’s solicitor, who will then send it to the seller’s solicitor. The buyer will be given the keys to the property and allowed to move in.
- Registration of property transfer – The buyer’s Conveyancing Sunshine Coast solicitor will register the title deed with the Land Registry, finalising a transfer of ownership.
Searching For The Right Property
While moving house is stressful, some planning from the outset can lessen the demand of the move.
Conveyancing Sunshine Coast Research
It is important that you carefully research the area that you want to live in. Visit Conveyancing Sunshine Coast police websites to uncover the crime rates in the area; look up information on local educational facilities; and find out whether or not you can commute easily to your place of work. Everybody’s needs and expectations are different. Decide what is important to you and ensure that you have access to those things from the area in which you are looking to buy.
Plan your finances
Be realistic about the size of the mortgage you can afford. You should speak to an independent financial adviser in order to find the best mortgage deal for you. Make a list of your day-to-day expenses so you understand the amount of monthly repayments you can comfortably afford.
It is advisable to have accepted an offer on your own property before deciding upon a new home. This can put you in a much stronger bargaining position. You may be favoured by the vendor over someone who has placed a higher bid, particularly if the vendor is eager to move as soon as possible. However, if there are very few properties on the market, you may want to decide upon what you want to buy before you sell. Otherwise, you may have to be prepared to move into temporary accommodation, such as a rental property or a hotel, during the period of transition between homes.
Avoid leaving small concerns such as the payment of utility bills or booking a removalist until the last minute. It is important that you contact your utility company prior to your move so that you have such things as your electricity operational once you move into your new home: and so that you are not left with the bills that the previous owners incurred. Book your removalist – preferably someone reputable as well as reliable – as soon as you know the date of your move.
Packing – Conveyancing Sunshine Coast
Pack strategically: do not park things that you will need immediately at the bottom on an unlabelled box. Label your boxes and keep essential items in easily accessible places. This is a simple step that can lessen the stress of your move.
Choosing a Conveyancing Sunshine Coast solicitor
Your Conveyancing Sunshine Coast solicitor should be someone whom you can trust and whom you feel comfortable communicating with. Make sure you instruct someone who specialises in Conveyancing Sunshine Coast and who will keep you regularly updated on the progression of your transaction.
Don’t let the stress of your move spoil what should be a new beginning. Begin planning as soon as you decide to move and try to keep a handle of all of the small things that go into moving home. Make sure that you are always aware of the next step you need to take, and at what stage you are at in the conveyancing process. The lines of communication should be kept open between everyone involved in the transaction: those being your Conveyancing Sunshine Coast solicitor, estate agent, your mortgage company, and the bank.
You are relying on your Conveyancing Sunshine Coast solicitor to guide you through the transaction process: you need them to stick to deadlines and to keep you informed as much as possible. Should you be unhappy with the way that your solicitor is managing the transaction, you have several options available to you.
You are not obliged to use a specific Conveyancing Sunshine Coast solicitor in any legal matter. For instance, you do not have to select from any of the solicitors recommended by, or linked to, your estate agent. You are in fact able to choose any Conveyancing Sunshine Coast solicitor that you want.
Should you find that you are dissatisfied with the service you are receiving from your current Conveyancing Sunshine Coast solicitor, you should first contact the person responsible for your matter at the solicitor’s firm. Discuss your concerns with them and specify what you are not happy with. You may feel that there is a breakdown in the communication process; that the deadlines are not being met; or that you are being left out of the loop during the transaction process.
If that is unsuccessful, you could try contacting the partner in charge of the department or, if you are truly unhappy with the service, follow the firm’s complaints procedure. You do not have to remain with the firm of the solicitor you have selected. Research other firms in order to find the right solicitor to take over your conveyancing matter. You will be required to pay the costs sustained by the work of your initial solicitor, but most Conveyancing Sunshine Coast solicitors will consent to withhold payment until your conveyancing transaction is complete.
To find that perfect Conveyancing Sunshine Coast solicitor, ensure that you choose from a firm that specialises in conveyancing. Going upon a recommendation can help your decision. The solicitor you choose must have experience and should be communicative – they should have a range of contact options available to you – with you about concerns such as the costs involved in hire.
Moving into a new home is not an essentially stressful procedure. Aid yourself throughout the move by researching as much as possible. Should things not go as planned, ensure that you are receiving the service that you are entitled to: if need be, change solicitors, as you are not obliged to remain with a solicitor who is not working to satisfactory standards.