There are a couple of key people you’ll meet when buying a house (and we’re not talking about your new neighbours). You’ll probably hear the words ‘agent’, ‘conveyancer’, and ‘solicitor’ flying around – but who are they, and why do you need them?
Think of a buyer’s agent as your property wing person – they’re by your side as you search for your perfect fit. Consider engaging with an agent from the beginning of your buying journey.
Pro tip: A good buyer’s agent will have in-depth local market knowledge and be able to tell you things about the neighbourhood such as average prices for the area, public transport access, demographics and planning regulations.
A conveyancer is a licensed professional who’s there to help you with the formal stuff. They’ll give you advice around the sale of a property and navigate the legal documentation and settlement process.
Some states in Australia allow you to have your paperwork done by a licensed conveyancer, as opposed to a solicitor. You’ll want to engage with one well before you sign a contract or start negotiating the purchase of the property.
A solicitor plays a similar role to the conveyancer, in that they’ll help you navigate your rights and the legal formalities of the sale. Expect a solicitor to cover much of the same ground – prepare and lodge all legal documents for the purchase, review the contract of sale, etc.
Most states and territories in Australia let you choose either a conveyancer or a solicitor to do this work. However, in QLD and ACT you must use a solicitor. As with a conveyancer, you’ll want to have a solicitor ready to go upfront.
You’ll need to factor the cost of engaging with these people into your overall budget – but they could play a crucial part in helping you nab your dream home or investment property.