A lot of people do not know when exactly they should start talking to a conveyancer. The simple answer is, the earlier, the better. As your conveyancer, the more we know about your buying or selling situation, the better we are able to act on your behalf.
As a purchaser or seller it is important to remember that the smallest amount of information, while it may seem unimportant to you, can have a severe impact on your transaction. As your conveyancer we don’t want to come across any surprises so it is extremely important that you communicate to your conveyancer if you have, for example, severe financial restrictions, tight time limits, or any other specific concerns or requirements relating to your situation.
To assist you in your next sale or purchase, we have prepared a short summary listing some of the things you’ll need to tell you conveyancer in your first meeting.
Selling
If you are selling, be sure to make your conveyancer aware of the following, if they apply to you:
- If you are looking at changing/have changed your name since you bought the property (meaning the legal owner on the Certificate of Title will differ from your new name);
- If you are separating/have recently separated (in these circumstances, instructions will be required from both parties);
- If you are getting married/have recently married (meaning that your legal name has or will change);
- If you are re-financing/recently re-financed (this may hold up settlement of your sale – important for us to know right at the start);
- If you are not an Australian Citizen/Permanent Resident (this is extremely important given the new laws regarding foreign purchasers and sellers);
- If you pay land tax;
- If you pay local land services rates;
- If you anticipate your property will sell for $2,000,000.00 or over;
- If a party to the Contract has passed away; and
- If you are also looking at purchasing at the same time (and require a simultaneous settlement).
Buying
If you are buying, be sure to make your conveyancer aware of the following, if they apply to you:
- If you are looking at changing/have changed your name (we will need to ensure that the name on the Contract is correct);
- If you are getting married/have recently married (again, we will need to ensure that the name on the Contract is correct);
- If you have a guarantor to your loan (this is important for settlement/mortgage document purposes);
- If you are re-financing during your purchase (again, very important for settlement purposes);
- If you need a 5% deposit to be acceptable by the Vendor;
- If you need another person on the Contract (such as a parent or sibling) for the purposes of loan approval;
- If you are not an Australian Citizen/Permanent Resident (this is extremely important given the new laws regarding foreign purchasers and sellers);
- If this is your first purchase; and
- If you are relying on the sale of another property to be able to purchase.
Whilst the above is not a conclusive list of what your conveyancer needs to know in your first appointment, it is a start. Before you meet with your conveyancer it is a good idea to have a think about how your situation differs or is special from what you would consider a normal situation, and be prepared to discuss this with your conveyancer.
Ready to discuss your next buying or selling property transaction? Talk to the team at Coutts Lawyers & Conveyancers.
