By Cam McLellan
We’ve spoken about accountants, conveyancers and brokers forming part of your team and today I want to follow up and give you a run down about conveyancers.
Al and I refer to the day I bought my first property as, ‘What’s a conveyancer? Day’. Picture this, I’m sitting in the agents office, I’ve just signed the contracts to buy the property and I’ve done no research what so ever; I just rolled in there.
The agent said, “What are your conveyancer’s details?”
I looked at him blankly and said, “What’s a conveyancer?”
Luckily, I could quickly get Al’s old man on the other end of the phone and ask him what a conveyancer was.
As time has gone by, I’ve realised conveyancers can be easily overlooked and do form a very important part of your team. They can be good or bad. They coordinate brokers, solicitors, accountants and follow up. They can also organise and make things happen for the purchaser or the vendor, depending which side of the transaction you’re on.
When considering a conveyancer it is good to get a full list of what they do during a purchase and also during the sale of a property, because inclusions vary and so do the costs associated.
You can grab a check sheet of things to ask when choosing a conveyancer, from our website, by clicking HERE. Here are some basics:
What is the conveyancer’s rate per sale or purchase?
Do they prepare contracts?
How many settlements do they do per year?
What searches do they recommend and what are the costs of the searches?
Are they tied to a law firm?
The Sales Acts in each state vary; in Victoria, for example, a conveyancer must ensure the section 32 is provided to you and that you understand the Sales Acts before you sign the contracts.
So ask the conveyancer what the process is and then make them accountable for ensuring this process happens.
Here is a list of posts we think you might be interested in.
By Cam McLellan Building wealth through property is no different to most things in life. It’s all about mindset – if you tell yourself you can’t do it, chances...
By Cam McLellan Enjoy the life you are living and want to keep it up in retirement? It is very achievable to retire your household on $200,000 a year,...
We all pay tax, but how do we make sure our tax return efforts benefit us in the long term? *This is a transcript from a conversation with Michael...
BE A SUCCESSFUL PROPERTY INVESTOR
We can show you how to reduce risk and pick a top performing property like an expert.