Questions That You Need To Ask Your Conveyancer
So you’re ready to finally take the plunge to invest your hard earned money on a property! First of all, CONGRATULATIONS! And I am confident that you also know that this process needs to be handled correctly and seamlessly. Now in order to do that, a good conveyancer is what you will need! It has to be someone who has the necessary experience and knowledge of the system.
Here’s a rough guide on what questions you may want to ask your potential conveyancer to check if they are qualified for the job and will be able to deliver results efficiently. Their answers will give you an idea on how knowledgeable they conveyancer is and if they will be looking after your best interests.
1. How many years have you been practicing as a conveyancer?
They say experience is the best teacher and so the length of time they have been on the business is a key in assessing their qualifications. Your conveyancer needs to have both the skills as well as the expertise to carry out the jobs required to see things through and ensure your property needs are met. It helps to converse with them about their experiences so you can tell how adept they are at their job.
2. What are your rates or how much do you charge?
Asking for the cost of conveyancing services is nothing to be ashamed of, in fact it is one of the most important factors in deciding who to choose. Take note that a conveyancer’s fees typically include registration fees and stamp duties on top of the service fees. If it helps, you can also ask for a written detailed list of all costs associated for the job so you can have a clear picture on what will entail, as well as ensure costs are kept within the guidelines, which means you will not be overcharged and you will know any additional charges that might be incurred later on.
3. Ask about insurance.
One way to safeguard you from additional costs is through a professional indemnity insurance. You’ll find that good, honest conveyancers do offer such insurance clause in agreements. This is just another measure you may want to take to avoid extra financial burdens in case the conveyancer makes a mistake, as human as we all are.
4. Check the draft of any contract.
I’m sure you are employing the aid of a conveyancer in order to free yourself from tedious paperwork and hassles of property exchange, but it doesn’t mean you don’t need to be involved anymore. Just ask about what contracts are being drafted and its inclusions. Knowing what is in the contract is important so you know everything that is being settled on.
5. Ask where they stand when there is a conflict of interest between parties.
Some people take a shortcut and hire the conveyancer who is handling the opposition party’s documentation. This should not be the case as this will only lead to delay considering any conflict of interest between parties.
So there you have it. You don’t have to ask all of these questions if you are not comfortable with them but know that knowledge is power. You can benefit from it by having confidence to work with a conveyancer that meets your requirements and you feel comfortable to work with to ensure your transactions go as smooth as possible.