The process of buying a house can often be confusing, especially if it’s your first time. You are often bombarded with terms you’re unfamiliar with and have to figure out the difference between two things. One common example is the confusion between a real estate agent, solicitor, and conveyancer.
These are people you would typically encounter during the homebuying process. But what role does each one actually play? Well, we’re here to clear things up, so you know who you actually need and why.
What Is the Role of a Real Estate Agent?
The role of a real estate agent is to help you find a home that meets your needs within your budget. To do this, they will carry out an inspection of the property and market your requirements to local builders. It’s also their job to represent you in negotiations with the seller, especially when both parties disagree on prices.
As a buyer, you can expect a real estate agent to:
- Research local property prices.
- Show you property listings.
- Assist you with bidding.
- Negotiate offers with the seller.
- Give advice on selling tactics such as showings.
What Is the Role of a Solicitor?
A solicitor is the legal representative of a buyer, who ensures that the deeds of purchase are legal and accurate. They also work with the buyer’s conveyancer and solicitor to ensure legal compliance with the transaction.
They will help you close the deal once you find the perfect home. Their job is to essentially guide you through the legal process of buying a house, which can get complicated. For instance, if you’re an Australian citizen and your partner isn’t, you need to know if that would affect your ability to buy a house.
As a buyer, you can expect a solicitor to:
- Assist you with getting loans.
- Explain property tax regulations.
- Show you how to use legal codes.
- Give you advice on tax deduction.
What Is the Role of a Conveyancer?
A conveyancer is a person who gets the legal documents in order and makes sure the deal is done. It’s the conveyancer’s responsibility to ensure that the documents are valid and that the house transfer is done legally.
As a buyer, you can expect a conveyancer to:
- Handle the legal process of buying a house.
- Examine documents and go over them with you.
- Make sure everything is in order.
- Ensure all legal codes are followed.
- Make sure that nothing is forgotten.
Often, you will deal with all three people at once. The solicitor will represent you in the legal process, the real estate agent will help you locate the home, and the conveyancer will make sure the documents are in order. However, you can also hire an individual to do the job of each party.
So the process starts with a solicitor and the buyer’s conveyancer. They make sure the deed of purchase is legal and free of errors. Then the real estate agent is usually the one to present the buyer with listings of available properties. Finally, the buyer chooses a home, and the real estate agent will start the negotiation process with the seller. This is where the buyer’s solicitor comes into play and negotiates the deal with the seller’s solicitor.
Make sure all documents related to your home purchase are in order with the help of Bickell and Mackenzie. We are conveyancing lawyers in Redland Bay that also specialise in family law and wills and estates administration. Get in touch with us today!