Purchasing a home is one of the biggest events in life. It is a major investment that will be paid off over many years and in that time your home will be the source of family memories and many key moments. Accordingly, it’s important to get right.

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Although a buyer’s agent or real estate agent can provide good support in the property purchase process, it is also critical to engage a property lawyer or conveyancer as early as possible into the purchase and negotiation process.

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What do lawyers do?

One of the key tasks for a property lawyer or conveyancer in the home buying process is to negotiate and manage the contract that will form the core document in the sale. A good lawyer will add value in a number of ways including but not limited to:

1. Review the contract to ensure that the terms are fair and reasonable;

2. Make sure that the contract fully adheres to the relevant state laws, and that there are necessary contingencies and requirements in there, so you’re not met with any nasty surprises (or have recourse to get them resolved);

3. Anticipate any issues which can arise from the contract as well as any nuances of the property; and

4. Negotiate with the seller’s legal team and agents to ensure favourable terms for you.

Another valuable service that your lawyer will perform is to obtain the appropriate enquiries and searches, to ensure that the property that you are purchasing is free of any encumbrances, claims, orders or other issues. Understanding which appropriate enquiries to perform is crucial to identifying the hidden problems with the property.

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An experienced property lawyer will put you in the best position in the event a dispute breaks out between parties. To obtain the best result in a dispute, a lawyer should not only understand the operations of the relevant laws, but also the negotiations skills to optimise the commercial outcome.

Finally, the lawyer will oversee the property transfer and assist in ensuring that the transaction is completed smoothly, correctly and your interests are protected even after settlement.

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So, in short, it is important to have a lawyer on your side throughout a property purchase process. They will help you in innumerable ways, including:

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·  Avoiding disputes

·  Anticipating and preparing for potential issues

·  Protecting the interest of the purchaser

·  Maximising the financial outcome for the client

·  Ensuring a smooth transaction

·  Troubleshooting any issues or disputes that might arise

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Need the best property lawyers Sydney has to offer?

At ABP, our team of expert property lawyers in Sydney have the passion and experience to assist with any kind of home purchase, with a specific focus on the needs of our clients. Contact us today to discuss your needs.

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