Conveyancing – Risks and potential complications
Conveyancing – Risks and potential complications
A conveyance involves the transfer of property from one owner to another.
A solicitor with expertise in conveyancing will ensure that a sale or purchase of a property does not spiral out of control.
The following issues can hinder the progression of a conveyancing matter: –
Delayed settlement
This predicament can be caused by the following factors: –
- Bank issues, i.e., problems with discharging mortgage. If important documents like the Certificate of Title have not yet been provided to the correct banking department, or there are some errors in other documentation.
- Purchaser issues such difficulty obtaining finance and disputes arising from faults in the property identified after exchange.
Engaging a solicitor prior to the purchase or sale of land means that delays can be mitigated. If the settlement does not occur on the stipulated settlement date, for reason of the purchaser’s delay, the vendor’s solicitor can serve a notice to complete. A notice to complete allows 14 days from the date of service of the notice for the purchaser to complete. If the purchaser does not effect completion within 14 days, the vendor my validly rescind the contract and retain the deposit paid by the purchaser.
Defects
It is incredibly difficult to renege on a signed contract. As such, it is imperative that you are certain of a purchase or sale before you begin your conveyancing journey.
We provide:
- review of contract services for prospective purchasers; and
- generate contracts for vendors.
Disagreement between parties
A solicitor will act on your behalf in any and all negotiations with the other party. They will ensure that any potential conflict has minimal impact on your conveyancing matter. Solicitors engage in clear, direct correspondence with the other party to clarify that all clauses in the contract are unambiguous and in the best interests of you, the client.
Risks of conveyancing without legal representation
Inadvertent breach of contract
Without legal counsel, there is a higher chance that you will breach an aspect of your contract, leading you to face fines and future complications.
Prioritising costs may waste time
The major reason individuals choose to proceed into conveyancing matters without legal representation is typically due to concern over high legal fees. What this rationale fails to consider is the major time reduction legal help can lend through efficiency and experience as well as fluency in contracts and other legal documents. Soliciting legal help will minimise stress and expedite this rewarding process.
Benefits of conveyancing with legal representation
We ensure:
- Contracts are meticulously drafted and in accordance with legislation
- All inspections are performed accurately and on time
- All issues are dealt with and neutralised as they arise
- We understand all minutiae of the matter at hand so that we can best attend to your needs
- Proper change of title after settlement
- Maximum reward for minimised risk
Areas of Expertise
- Conveyancing (acting for first home buyers to publicly listed companies)
- Commercial & Development
- Acquisition & Sales
- Advisory (Taxation, Ownership, Finance)
- Environmental & Zoning Issues
- Foreign Investment
- Hotels
- Leasing (Commercial & Retail)
- Mortgages & Securities (Incl Enforcement)
- Property Development
- Property Litigation
- Retirement Villages
- Strata (Management, Disputes, Owners Corporation issues)
- Self Managed Super Fund (SMSF) Investments
- Subdivisions