Most people presume that the work of conveyancers is to represent buyers during a real estate transaction. However, the selling party can also benefit from the services of a conveyancer. If you intend to sell property, read the extract below to understand how you can benefit from the services of a conveyancer.
Most sellers do not have the skill required to appraise their property. As such, they end up listing their property for too much. As a result, the property does not attract customers. On the other hand, they could end up selling the property below its market value. A conveyancer will give an accurate valuation to ensure that you list the property within its current market rates. During the assessment, they will also list the renovations that the property needs before listing. For example, it could need pest treatment, roof repair or electrical repair. Although you will spend some cash on these repairs, you will reduce the buyer's negotiating power.
A problem that most sellers face is dealing with customers once they list the property. More often than not, the customers will ask technical questions that the seller may not be in a position to answer. For example, they could inquire about easements, strata regulations, building certification and construction standards. The conveyancer will have this information at their fingertips. Besides, they will woo the interested customer to view the property.
If you opt to sell the property without the representation of a conveyancer, there is a probability that you will close the deal for a lower amount than you had initially anticipated. Remember, you will be negotiating against the buyer's conveyancer. Your conveyancer will use various arguments and assertions to compel the other party to agree to buy the property at a price that is reasonable to both parties.
Terms Of Sale
Your conveyancer will take charge of drafting the contract of sale. Typically, they will ensure that the contract protects your interest. For instance, they could include a clause that prevents you from making further property renovations. Additionally, the conveyancer will ensure that the closing date is a soon as possible. It allows you to list the property again if the buyer is no longer interested in purchasing the property. Your conveyancer will also ensure that the buyer commits themselves with the highest possible down payment.
You now understand the benefits of engaging a conveyancer when selling property. As a rule, you should work with experienced, reputable and reasonably priced professionals.