THE BUILDING HOME MASTERCLASS SERIES 3. START HERE – Buying Land Start with a Conveyancer

Conveyancing is the process of transferring ownership of a parcel of land from one person to another. It is a legal process that is performed by a legal conveyancer. In a property transaction there is a buyer and a seller and each party should have their own conveyancer. Because we are talking here about transferring land, I'll use the term land conveyancer here.

If you'd like to connect to our Conveyancer visit https://buildinoz.com.au/conveyancing

land conveyancer

You will need to choose your legal conveyancer before choosing your block. You won't pay for any services until your land has been settled, so there's no reason not to get in early. That way they'll be there when you need them and often you'll need them in a hurry. After all, you never know when you'll stumble across that perfect block. You don't want to miss it because you weren't organised enough to make an offer before the other person.

Your conveyancer will be the one who takes care of your property buying needs and will make sure that all is as it should be with the contract. They are the guardian angel of your land transaction and it's their job to protect you during the land purchase process.

They’ll let you know if there is something in the contract that you might need to give extra consideration to and they’ll always be on to anything that doesn’t seem quite right. A conveyancer takes the worry from you, leaving you to focus on the fun part.

It costs nothing to get started with your conveyancer. You only pay a fee upon settlement. If you wait, you could find yourself under stress if you have to secure your favourite property in a hurry!

conditional or unconditional contract

When you find a block that is perfect for you, you can purchase it using an conditional or unconditional contract. For example, a condition could be subject to your finance being approved. When you buy something ‘subject to finance’ you are not penalised in the event that you are unable to secure your finance within the specified timeframe—usually fourteen days. However, one of the aims of this system is to avoid such heartache. So, if you are in any way unsure about any changes that might occur in your financial position, include the condition ‘subject to finance’ in the contract. Then take the contract of sale to your chosen home lender and make an application for finance.

Your conveyancer is the best person to discuss whether you should use a conditional or unconditional contract with.

If you'd like to connect to our Conveyancer visit https://buildinoz.com.au/conveyancing

in summary

You can't buy a block of land without having first engaged the services of a land conveyancer. You won't pay any money until you settle your block so there's no reason not to find one right now. That way, there there when you need them. They'll be the first person to look at your contract.