Buying a house is one of the most significant milestones in an adult life. Because of how involved you will have to be before making the purchase, it makes sense that there are steps to take in order to make the process as seamless as possible. Discussing this process with a conveyancer in Cairns will not only make the process easier for you but will also provide you with much-needed security and peace of mind.
Aside from having a conveyancer who will ensure your best interests are protected, it also helps to at least have some idea about the process. Here are some of the things you should remember when buying a house.
Avoiding misspellings and use of informal names in the contract
While it seems straightforward, you’ll actually be surprised by how many people misspell or use informal names in contracts.
If a name is spelled incorrectly, the property will be transferred to the name that appears on the contract. This can have an impact on your estate. Thus, in cases of misspelled or informal names, amendments must be made immediately to avoid extra costs in the future to rectify the Title.
As a buyer, you should obtain standard searches to prepare for the settlement. Your conveyancer can order these searches upon your request. Standard searches include rates, title, special water metre readings, main roads and a land tax clearance certificate. The seller may be asked to provide copies of the latest searches to speed up the process. Depending on the plan for the property, the buyer may also request additional searches as applicable.
Determining chattels and fixtures
As a rule of thumb, an item is regarded as a chattel or a fixture depending on how it is affixed to the property. For instance, any physical property that is permanently attached (fixed) to the land or the property is considered a fixture. Examples of fixtures are pool filters, doors and counters. Chattels on the other hand, are easily movable objects such as couches and appliances.
Both the seller and the buyer have to write down what will be staying or leaving the property upon settlement. If as a buyer you expect an item to stay, you should state so in the contract. If as a Seller you expect to leave with an item, you should also state so in the contract.
Finding a qualified conveyancer in Cairns
If you need assistance in conveyancing in Cairns, get in touch with Marino Lawyers today. Call our team at (07) 4081 6700 and meet with us to discuss how we can best help you out.