Bell Real Estate

Tip 3 - Now that I've brought, what next?

Completing the Conveyancing

Once a successful negotiation has culminated in a signed contract note, the conveyance of the Vendor's title particulars and details outlined in their section 32 Vendors Statement will require verification on your behalf. Solicitors Specialising in Property Transfers completed this act of conveyancing for many years.

Today, Conveyancers complete directly with Solicitors for this role. Conveyancers were initially seen as a far cheaper alternative to Solicitors however there are pros and cons for the hiring of both.

Solicitors

Pros -	Are aligned with the Law Institute and as such must operate under specific codes of conduct and rules when dealing with the public. They must also have professional indemnity insurance to protect themselves and their clients throughout the conveyancing process.

Cons -	Typically Most Solicitors Core business is not property Conveyancing and as such, they do not specialise in the field or indeed have the speed up the Conveyancing process. Most solicitors will also charge a fee for Conveyancing plus adding "Disbursements" to their fee which can often be as much or more than the initial fee.

Conveyancers

Pros -	Specialise in Property Conveyancing and have the infra-structure in place to provide quality service with pace and precision. Typically they charge an all in one fee making them very competitive when comparing to Solicitors Conveyancing fees.

Cons -	There is no requirement to acquire professional Indemnity Insurance as a Solicitor has. The obligations to conduct business under the same Codes and Rules as Solicitors are not in place. In the event of a legal challenge during the Conveyancing period (prior to settlement) a Conveyancer does not have the necessary legal qualifications to act on your behalf.

We have found, as the areas leading Agents, that when you sell more than 3 local properties everyday, you have a large base to gauge the trends. Presently most buyers will hire a Conveyancer to complete their transaction 7 out of every 10 sales. They take advantages of the benefits as mentioned above that conveyancers have over Solicitors. They also retain the right to appoint a Solicitor if the need arises during the Conveyancing process.

The key to choosing either a Solicitor or Conveyancer is their professionalism. We recommend Armstrong Ross Solicitors in Belgrave for those buyers who prefer Solicitors. We only recommend Skilled Conveyancing Services as they have a proven track record for more than a decade of providing Skills and Services that exceed our clients expectations. Also, the director of Skilled Conveyancing, Dawn Barry, has 15 years experience as a legal Executive as well as Professional Indemnity Insurance to protect you.

Day of Settlement
Once settlement between your Solicitor/Conveyancer has been finalised between the Vendor's representative, you have taken full ownership of your new property. Keys are usually collectable from the Agent's office within 1 hour of the actual settlement time. It is always best to call the Agent's office first to ensure that settlement has indeed been completed and that the Agency has authorisation to hand over the keys to You, the new owner!

Conclusion
Buying a property is one of the most financially and personally significant challenges you will face. It should be one of the most exciting and rewarding experiences in your life. We have developed the Buying Program to assist you in your endeavours. Remember, a lack of homework and preparation shown up in the Real Estate Market as well as the Classroom. So start the planning process today. Click on to our Results Section to record relevant Sales in the area you are looking to live in.

William Skakespeare once wrote, “When you are at home, you are at a 'better place”.

The Bell Real Estate Team of Results Agents are ready to help you find your better place. This program is designed to ensure you secure your better place.

You don't have to be a 'great negotiator' to start the process of buying a property…but you do have to start to get the great rewards. Benefits such as a place to call home in an extraordinary environment with a quality unequalled so close to a major capital city.