What is Conveyancing? Buying and Selling Real Estate [VIDEO]
What is the process to purchase real estate? In this video you’ll learn about the process to purchase real estate property, which is technically called conveyancing. Conveyancing is the legal transfer of property from one party to another. This video should be particularly helpful for first time home buyers to help you understand what happens when you decide to purchase your first home.
Purchasing your first home is an exciting time, but the process to purchase real estate is likely unfamiliar to most people, so we here at Winright Law wanted to help you understand what happens.
Why a law firm to help with the process to purchase real estate
Some people may wonder why you should hire a law firm to help with their real estate purchase. The conveyancing process requires the preparation of several legal documents, coordination between buyer, seller, government agencies and financial institutions. There’s also the handling of the large sums of money and mortgage details.
Lawyers are trained to handle details
There are a lot of moving parts in the purchase of real estate. If something goes wrong and you require legal action, it’s to your benefit to be working with a lawyer because a lawyer can take legal action, which is obvious.
But what’s less obvious is that a law firm like Winright doesn’t charge more for that peace of mind.
The process to purchase real estate
There are 8 steps in the conveyancing process to purchase real estate:
- Accepted offer on the property.
- Contract from realtor & setting an appointment with your lawyer to complete the transaction.
- The lawyers and conveyancers process the paperwork and perform due diligence.
- Statement of Adjustments, which tells you how much money is required to complete the transaction.
- Appointment at Winright Law to sign all paperwork and make all payments necessary to complete the transaction.
- “Magic Time” is when Winright now takes all the pieces of the purchase and puts them all together to complete the purchase transaction.
- Possession. When you finally get the keys to your property and prepare to move in.
- Final documents are sent to you, and includes the State Title Certificate that officially say you’re the owner.
Watch and learn about the eight steps in the process to purchase real estate. If you have any questions or need a lawyer to help with your real estate purchase, please get in touch with us.
We offer a free consultation with a legal representative to help find the best options for your situation.
Or contact us via email.