Buying a home is major financial investment that involves a range of legal aspects. It is important to know about the various legalities that go into the process to make things less stressful than they already are.
Read on to for more information about the legal aspects of buying a property, and to minimise the risk of potential problems.
Hire a Conveyancer
Working with a solicitor or conveyancer can help you in terms of understanding the legal process of buying and owning property. Make sure to work with a reliable solicitor to take care of the legalities associated with the purchase. Conveyancers handle strata title searches, building certificates, and documents from the state traffic authority. It is important to communicate with your solicitor or conveyancer if you have any concerns about the property you are buying.
Do Your Research
Home fees vary from state to state, so it’s important to do your research and shop around. The overall cost of the property will depend on the type of property registration. Novus Homes suggests working with a reliable real estate agent or solicitors to get quotes.
Get the Building Inspected
A building inspection assesses the existing condition of the property and determines potential problems such as cracks, inadequate plumbing, and structural movement. Pest inspection is also important and can help evaluate tricky areas prone to infestations. A proper building and pest inspection can also find potential problems where you might not have seen any.
Mind the Paperwork
The paperwork involved in buying a property differs slightly from state to territory. Key documents, however, include the contract note or sale regarding the property’s information and details what is actually for sale. The contract specifies the settlement date and has other documents attached, like the plan for the land and Certificate of Title.
Proper preparation is the key to successful home buying. Seek advice from professionals such as solicitors and real estate agents to help you deal with any issues concerning home settlement and ownership.