Who gets to choose the conveyancer - and why?
PUBLISHED 23 JUL 2019
Whether you’re buying or selling a residential property in Cape Town, there’s one type of professional you’ll need to deal with before your transaction can go through - and that’s the conveyancing attorney.
Conveyancing attorneys - or conveyancers for short - are legal professionals who ensure that transfer takes place according to the law. They also make sure that the seller is paid in full - and as agreed - and that the buyer receives the deeds to the property.
Just as estate agents have a mandate to buy and sell homes, conveyancers have a mandate to deal with the legal aspects regarding the sale. Without a conveyancing attorney, the sale won’t go through - but who gets to appoint them?
Choosing a conveyancer: seller’s advantage
If you’re planning to sell your home, here’s some good news. You’ll get to choose the conveyancer who will handle your transaction. If you’re a buyer, you may be wondering why that is.
Here’s how it works.
When someone sells their home, there’s always a delay between the date when the offer to purchase is accepted and the date when transfer goes through.
- This is a critical time for the seller, because they may have already vacated the property and the buyer may have moved in while paying occupational rental.
- For the new owner, holding out for a few months as transfer goes through may make a lot of financial sense, since the occupational rental is usually lower than the cost of a bond payment.
- That puts the financial risk of the sale squarely on the seller’s shoulders - and to minimise their risk, they get to choose the conveyancer.
A good conveyancer looks after everyone
Ideally, we love to see buyers and sellers acting in good faith as they conclude the sale as quickly and conveniently as possible. A good conveyancer is a valuable partner in this process.
Before you appoint a conveyancer to ensure that the transfer of your property goes through, it’s important to check out their reputation and track record.
The Cape Realty team will be happy to guide you in appointing the right conveyancing attorney for your property sale. If you have any questions, don’t hesitate - contactus today.
Image Credit: https://pixabay.com/photos/office-attorney-reading-read-laws-2820890/