There have been a few times in my life that I have needed a lawyer, and during those times, their help was invaluable. I worked with lawyers during the custody battle for my kids, when I dissolved the partnership for my business and after I suffered an injury at work. In this blog, I plan to write about the law from a range of angles. I may share posts inspired by my personal experiences, what's popular in the news or what strikes my fancy when I'm writing. I have a daughter, Oliva. I manage a medical clinic, and I love blogging. I hope you like the results. My name is Melinda, and thanks for reading!
A conveyancer will assist with due diligence and the legal and technical aspects of buying real estate. Most people leave a bulk of the work to their conveyancers. However, it is always advisable to interview the conveyancer to increase your understanding of the property on sale. Below are some questions to ask your conveyancer when buying property.
1. How Would You Rate The Property Features?
Conveyancers deal with buyers, sellers, and developers daily. Therefore, they are well aware of the recent trends in the real estate industry. For example, modern home buyers are inclined towards automated homes, energy efficiency, sustainable construction methods, spacious outdoors, and flexible home designs. Properties with these features are likely to appreciate considerably within a short period. As such, you can recoup your investment if you decide to flip the property after a few weeks.
2. What Is The Property's Appreciation?
The conveyancer should give you an accurate analysis of the property's appreciation. It allows you to make an informed decision of whether or not to purchase the property. Typically, the conveyancer analyses the location of the property, its size, features, condition, and any upcoming regulations that could prevent the property from appreciating. For example, if the area is zoned for mixed-use, an upcoming commercial development could make the property uncomfortable to live in. You could also use the property's appreciation to establish the improvements you should make. This is vital for property flippers and people who plan to take advantage of the property's equity in the future.
3. Does The Property Have Structural Issues?
The conveyancer should assess the property's structural condition to ensure the construction work complies with the building code and that the building is safe for occupation. Typically, the professional hires a building surveyor to inspect the building works. The conveyancer interprets the inspector's report to determine if the property is a worthy bargain. For example, severe structural issues such as sinking foundations and warped slabs could be expensive to repair.
4. What Legal Issues Could Crop Up In The Future?
The conveyancer should inform you about any legal issues you could experience in the future. For example, property registration errors could delay the transfer process. Conversely, the local council could prosecute you if the builder flouted the building code. Besides, an outstanding easement prevents you from using a specified section of the property. Understanding these legal issues prevents you from committing your funds to an investment that could land you in trouble with the authorities.
When buying property, ask a conveyancing service about the property's features, appreciation, structural issues, and legality.Share