Buying your dream home can be exhilarating…and very stressful. For the most part, this has to do with the fact that much of the process is out of your control. A lot of time is spent finding potential sellers, competing with other offers and for lenders to approve potential mortgages.
To minimise the stress of the house-buying process, buyers often enlist the services of property lawyers Melbourne and other popular areas luckily have many of to pick from. If you’re considering a property purchase in your future, it’s a good idea for you to do the same!
Using a Property Lawyer Has a Bunch of Benefits
It’s not uncommon for homeowners to opt for buying their properties without the help of a real estate agent or property lawyer. For many this option seems like a simple way to avoid the additional costs that go along with hiring these professionals.
If you’re thinking of doing this, we urge you to read this post. Our experts have compiled a few top benefits that prove it’s an excellent idea to share the burden of buying a property with certain pros.
1. Access to Professional and Legal Advice
Having access to professional and legal advice is possibly the biggest benefit of hiring a property lawyer. This includes assistance with all the legal documentation that’s involved with a property buying process.
Additionally, you’ll get a concise breakdown of the expectations, demands and criteria each party can demand. You’ll also get an accurate assessment of the expected timeline for the whole process.
2. Assist With Property Searches
In many instances, finding the perfect property can be stressful. Especially if you’re not really sure where to even start looking or how to discern if what you’ve found is a good buy! Many property lawyers have the resources to assist with this. They can especially assist with identifying problems surrounding properties you have shortlisted, so you can plan for it or decide to keep looking until you find more suitable options.
3. Advise You on House Inspections
While you may think that performing a house inspection is quite simple, there are instances when this can actually become complex. Your property lawyer can assist you with the criteria surrounding the types of home inspections you can request for your own peace of mind and how you should go about arranging them.
The most significant of these include:
- Interior and exterior inspections
- Roof inspections
- General property inspections
- Pest and termite inspections
- Building stage inspections
4. Assistance With Any Negotiations
Not all property deals are cut and dry. In some cases, there may be a large amount of negotiation involved. If the property owner you’re hoping to buy from is working through a lawyer, you may be negotiating against a professional. This can leave you at a disadvantage.
Opting to have your own lawyer means you have an expert on your side, who will negotiate the best deal for you, based on all facts. This is the best way to ensure you’re getting the best deal possible.
5. Setting up The Most Beneficial Contract
Once all the negotiating is over, the next step is to draw up a contract. If you don’t have an expert in your corner, you’ll again be at a disadvantage.
Property lawyers will ensure you have the right type of contract drawn up for the type of agreement that’s been reached. This whole process will be done to ensure that there are no future loopholes or discrepancies to deal with.
6. Setting Up Your Estate
Once you have purchased the property, your business lawyer can also assist you with setting up your estate. Alternatively, if you already have an estate, your property lawyer can include your new property in the existing estate.
Using the estate planning lawyers Melbourne property owners opt for will give you peace of mind that your affairs will be taken care of in the event of your passing.
7. Setting Up Contracts for Joint Ownership
In the instance that more than one person will be taking ownership of the property, you’ll need an attorney to set up the details of such an arrangement. You will also need legal, documented clarity on what happens to the property in the event of the passing of one of the owners.
8. Create Transparent Transactions
Keep in mind that not everyone you deal with may be honest and open or share your good intentions for a smooth process. Having a property lawyer on your team will ensure that all transactions are transparent.
There will be minimal confusion and you can address issues before agreeing to the purchase. This will ensure you don’t end up with the short end of the stick, so to speak!
Final Thought
If you’re working on buying a new property, we’re sure you have a lot on your plate. Why add additional stress to the process by trying to do everything yourself? Contact professionals to do the legwork so you can focus on the fun and excitement of being a new property owner!
