What Are The Legal Considerations When Selling Your Home?
It is both exciting and stressful to sell your home or investment property. Unless you do it often - you will always feel a certain amount of concern about the whole process.
Houses and units are large assets that can have a dramatic impact on your finances and future life - so it makes sense to ensure you do everything you can to reduce risk.
The reality is that you can do all of the processes for selling your home by yourself. You can do the preparation, the marketing, the selling and even the legal work (conveyancing) by yourself. You can go online and find instructions and books on all of the steps. But should you?
It will depend on your training and experiences. For most people the answer to whether doing the selling, or conveyancing, or even the touch-up painting is a good idea comes back to your skills. The majority of people will use a real estate agent for the marketing and sales of their property. The main reason for this is that you probably will not have sold many houses in your past. With the size of the transaction involved here - there is generally a reduced risk in having someone with the skills, experience (and licences to show they know the rules) do it for you.
With your conveyancing, you may be tempted to do it yourself. If you search you can find "kits" with some forms and a general instruction sheet claiming to be all that you need. Or you might be tempted to be guided by your "Uncle Steve" who has sold 4 houses over that past 10 years. The method of choosing to try this for yourself or not - is to consider the risks.
What would happen if you missed something important in the process? If you left out an important clause in your sales agreement, and just agreed to a term because you did not want to lose your buyer? What happens if what you thought was the truth about a specific paragraph was not what you thought? By choosing a qualified, experienced, and insured lawyer to protect you and your assets you can minimise the risk of a huge potential loss.
The processes of conveyance for selling your home is different to that of buying a home. The preparation of documents varies, the required actions vary, and even the amount you pay your conveyancer varies. (It usually costs less for selling than for buying.)
Contact our conveyancing team in Townsville on 4772 5155 to find out how to best ensure that your property transfer goes exactly to plan. Or use our Contact Form to schedule an appointment.