Buying a house is often the biggest financial commitment a person can make. It's not just the money but also the time and effort invested in finding and securing the perfect property. However, sometimes things don't go as planned, and the seller might pull out of a signed real estate contract. If you're the potential buyer, can you get compensation in this situation?
What the Law Says
Once both parties sign the contract of sale, it becomes legally binding.
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Conveyancers are an essential aspect of any real estate transaction. Hiring a conveyancer gives you an advantage as you negotiate property. Below is an extract detailing the benefits of conveyancers.
Inspecting Property
Most sellers stage their properties for sale. For instance, they could repaint the property to increase its appeal. This makes it difficult for buyers to identify defects such as cracks and sinking foundations. Once you hire a conveyancer, they sanction a property inspection that gives insights into the property's condition.
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If you're preparing to purchase residential property, you are probably ready to make your purchase as soon as possible. Of course, you probably know that anytime that you purchase a property of any kind -- including a residential property -- you do have to go through the conveyancing process. This is the process of having the property legally transferred to your name. As you can probably imagine, the residential conveyancing process can take a few weeks.
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At a time when physical contact is actively discouraged, it's good to be able to take advantage of digital tools instead. It's particularly gratifying, therefore, to know that you can settle the account electronically now when you buy or sell a house. What is the process? Is everything digital, or do you still need to manually engage?
The Bad Old Days
In the old days, all parties to the settlement would need to gather in a central location to sign and exchange documents.
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Now that you've got your heart set on a property and intend to put in an offer immediately, you need to make sure you have everything on board, like your conditional loan approval, building and pest inspections and conveyancing service. Here are some steps that help to make working with your conveyancer seamless and easy.
Make Sure You Define The Costs Up Front
In order to have a seamless working relationship with any conveyancing services provider, you want to make sure everything is crystal clear from the start.
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