Your Rights as a Buyer and What You Need to Know About Conveyancing

Your Conveyancing Obligations

Buying a property? Congratulations! This is a very exciting time for you.  Just make sure you’ve got all the information you need to make the process is as smooth as possible. In our experience, many first home buyers find themselves under-prepared for just how much paperwork and information is involved.

When you’re buying a property, a key part of what makes a potentially complicated process smooth is the team you have around you. At Conveyancing Home, it probably won’t be a surprise to know that our business is in conveyancing. We can help you with the entire process and work to make sure you understand each step of the way.

Whether this is your first purchase or your tenth, it’s always helpful to understand your rights and what you need to know when it comes to conveyancing.

Your Rights When Buying a Property

As a buyer, you are able to avail yourself of certain rights. When buying, make sure you get yourself a copy of the vendor’s statement and get professional advice before you sign anything. A vendor’s statement is something that the vendor is required by law to provide to the buyer, and it will outline important information about the property like title searches, encumbrances, easements and any kind of restrictions on the property. It’s vital that you know and understand the information that is in the vendor statement before you sign a contract of sale. We can help you with getting your head around what is needed and make sure that everything is outlined in plain English. The contract of sale that you will sign as part of the purchase is a legal document. It outlines your rights and obligations, and you need to be aware of anything contained in this like cooling off rights, financial conditions or anything else particular which relates to your contract. Again, there can be information in these contracts that can be difficult to understand, which is why we take the time to go through these contracts and explain them to you if necessary. There are also legislative rights which apply to both vendors and buyers, and it’s important that the entire sale and purchase adheres to these legal constraints. We can help you to understand the legal and contractual obligations and rights that you have when buying a property.

Why Should You Use a Conveyancer?

When you’re buying a property, it’s important that you get it right. As we have outlined above, there are some contractual elements that you need to be familiar with, and a conveyancer who is well versed in the ‘legalese’ of a property contract will be able to decipher this information for you and explain anything unusual. We help you understand cooling off periods When using a conveyancing service like Conveyancing Home QLD, we can help you understand the cooling off period and how it may or may not apply to you. For example, in some Australian states, there are legislative rights for buyers to ‘cool off’ following a sale. But in other cases, the cooling off period doesn’t apply – for example, if the home is bought at auction, if the buyer waives their cooling off rights, if the buyer is a company or if the sale is by tender – just to name a few. We can help you understand how these periods apply to you and what the implications are for waiving your rights. We help you with delayed settlement In some cases, the parties cannot settle on the due date, which means that we need to manage the sale. Either party is within their rights to issue a notice to complete, which means that the other party has a reasonable period of time in which to settle. We notify the services After the property settles, we will notify the council, the water authorities and the strata or community corporation about the new purchase. Having expert conveyancing on your side makes the property purchase process that much smoother. Get in touch with us today to ensure that your next purchase is simple and easy to understand. Contact us on (07) 3157 2237.