Conveyancer's top tips for buying and selling

Conveyancer's top tips for buying and selling

Here’s a quick guide to buying and selling from Coutts, your local solicitors and conveyancers. 

Buying

  • Make sure you have your finance sorted prior to making an offer, taking into account all extra costs including but not limited to stamp duty, legal fees, bank fees, land tax.
  • Ensure that you have carried out your due diligence on the property prior to locking into a contract. Consider carrying out pest and building reports, talking to neighbours, make enquiries with Council, arrange for your conveyancer/solicitor to review the contract.
  • Engage a reputable conveyancer or solicitor.
  • Ensure you have your deposit ready to go in the event that you end up in a contract race.
  • Ensure that you know what entity you are purchasing the property in. This could be through a super fund, trust, or as an individual or company.

Selling

  • Engage a reputable conveyancer or solicitor.
  • Make sure you have all documentation in relation to your property in order. For example, if you have a pool, ensure you have a pool compliance certificate arranged in order to avoid a delay in the preparation of your contract.
  • Ensure you allow enough time to sell and buy to guarantee that your transaction runs smoothly. Make sure the funds you are expecting from your sale are available when required, especially in the instance that you are simultaneously purchasing or in the event of selling an investment property where there may be tax implications from surplus funds received from the sale.
  • Ensure you are happy with the agent you engage.
  • Ensure you are happy with the price you have set. Consider if this is going to give you enough funds to be able to buy, and again in the event of the sale of an investment property, remember the tax implications of the funds you are to receive.

Need assistance with your next property transaction? Contact the team at Coutts to see how we can help and to learn more about our fixed conveyancing fees.