Selling a property can be a very rewarding experience, but without the right legal team behind you, it can be real mess.
It’s important to understand that the process doesn’t end when you accept an offer. There is a raft of legal and financial formalities to go through before settlement is complete.
Hiring a legal team is like taking out insurance. No one wakes up one day with a desire to see a lawyer or spend money on insurance.
However, just like insurance, if you aren’t protected by a good legal team and something goes wrong, the losses can be huge and it could mean that you are homeless or without full sale proceeds.
Just like when you compare insurance policies there are cheap insurance policies and more expensive ones.
More expensive insurance policies don’t necessarily mean better policies but when you look at the fine print in the detail of the policy you may find the cheaper one doesn’t cover you for flood and the quality product does.
When comparing quotes from difference law firms, it’s a good idea to check the following:
- Make sure there aren’t hidden differences in the scope of the service offered to you or in the way the quote price is being calculated; and
- Be careful of all inclusive packages offered by some conveyancers as you might find that they don’t provide the complete service or they don’t do the necessary searches.
When choosing a law firm to handle the sale of your property, you should ask the following questions;
- Do they prepare my sale contract and offer advice as part of the fee?
- Do they recommend ordering all the required disclosure searches to protect me and reduce risk?
- Can they provide me with legal advice when there are complications?
- Will I be insured for fraud?
- Do they provide a fixed fee for any out of scope services?
- Will I be able to get the necessary information when I need it?
Lawlab is a national law firm specialising in property law and conveyancing, with more than 100 years of experience. At lawlab, our legal team of property lawyers and legal professionals will bring your agent into a secure online space, so we can communicate with you throughout the transaction – and you can access what you need 24 hours a day, 7 days a week.
For more information call 1800 529 522 to speak to our friendly team, or email [email protected]