Buying or selling a property is a significant milestone, but it can be daunting without proper guidance. Conveyancing is the legal process of transferring property ownership from one party to another. Here’s a simplified step-by-step guide to help you navigate the process with confidence:
- Engaging a Lawyer: The first step is hiring a trusted conveyancing lawyer who will handle the legal paperwork and provide expert advice throughout the transaction.
- Drafting and Reviewing the SPA: The Sale and Purchase Agreement (SPA) outlines the terms and conditions of the property sale. Your lawyer ensures all clauses protect your interests.
- Conducting Due Diligence: Before proceeding, your lawyer will verify the property title, outstanding charges, and other legal obligations to ensure there are no hidden issues.
- Executing the SPA and Payment of Deposit: Once both parties agree on the SPA terms, the buyer pays a deposit, and the document is signed.
- Finalizing the Transfer: The lawyer handles the transfer of ownership and ensures the title is registered under the buyer’s name upon settlement.
A smooth conveyancing process is essential to avoid delays or disputes. Partnering with an experienced law firm ensures your interests are well-protected.
