Top 3 Roles of a Solicitor in a Property Transaction

couple meeting solicitor

People buy and sell properties for various reasons. Some will buy now and speculate until the prices go up, so they can sell the property at a profit. Whatever reasons you may have, it is important to acknowledge the fact that the process of buying or selling a property is not as easy as it seems. The transactions involved can be overwhelming, more so because large sums of money are involved.

Here are some of the key moments in a property transaction where a property solicitor comes in handy:

1. Acts as property managers

Your property solicitor in either Townsville or elsewhere is the link between all parties involved in a property transaction: from sellers to buyers and all other property stakeholders. They advise and negotiate the contract between the seller and the buyer. Besides, a property lawyer manages the transactions and relationship between the buyers and lenders.

2. Serve as informers

Another solicitor’s job is to collect truthful and accurate information, as well as make a report on the same and share it among parties involved in the transaction. Reputable lawyers will go the extra mile to warn their client of the critical points of the contract or offer. They will also keep the client posted on timelines and deadlines. Remember that missing a deadline can have a significant effect on your finances and investment.

3. Custodians of the entire process

The main reason to have a lawyer in property investment is to make sure the process is free of any malpractice and the clients get what they deserve. This means they must ensure property title; this is simply ownership and any other money, and mortgage responsibilities are transferred to relevant parties. This can only happen when all the stakeholders agree to sign the contract.

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A property sale or purchase process is usually difficult to understand. It costs to hire professionals, but it is even riskier to do it alone, as recovering the losses when mistakes have been made can be a nightmare. Be sure to have an experienced lawyer by your side.