If you're trying to buy a home or a piece of land, you're going to encounter a lot of legal issues. Your real estate agent can help with some of these, but for actual contractual matters and the sale of the property, you'll need the help of a conveyancer. This is a lawyer who handles the contracts associated with the property sale and purchase, and you don't want to go into a property purchase without this type of help. Real estate transactions have a few concerns that aren't that well-known, and people often learn them the hard way. With the help of a conveyancer, however, the purchase can be smooth sailing instead.
You and the Seller Aren't Friends
The seller is so happy to receive your offer, and you're so happy to get the property. That doesn't mean you have each other's best interests in mind. Both of you want the best deal with the least amount of work, and that can lead to some pushy behaviour, such as the seller suggesting you forgo inspections. A conveyancer helps protect you from behaviour like that. And by the way, these specialised lawyers are essentially neutral parties; other than charging a fee for their services, they don't receive any benefit from the sale of the property. If they say something is wrong or something is OK, listen to them.
Some Lenders Still Aren't Following the Consumer Credit Code
Another issue is that some lenders are still not following proper procedures, including those introduced by the Consumer Credit Code. For example, in 2018, Westpac was found to have approved mortgages that shouldn't have been approved and to have miscalculated payments and ability to pay. Your conveyancer can spot problems like this, such as if you receive approval for a loan that seems to be way out of your ability to pay (which could land you in trouble if you can't make the payments).
Restrictions on Property Use Aren't Always Easy to Find
A conveyancer studies the contracts in the sale very carefully, and one of the items this lawyer would look for is whether there are restrictions on the use of the property or how you can change the property. Neighbourhoods may have restrictions like not allowing additions to the home, and these restrictions aren't always apparent during the sale. It's often when the new homeowner attempts to make a change that these restrictions make themselves known.
Don't go into a property purchase alone. Consider working with local conveyancing services.