Avoid conveyancing pitfalls

It might appear trite, but a well constructed and informative Deed of Sale is vital for a smooth property transfer and it is worth emphasising a few practical steps, which although known to most estate agents are often forgotten. For instance:

  • Get as much information about the particulars of both the buyer and seller and communicate this to the relevant attorneys.
  • If conditions are to be incorporated into the agreement, ask an attorney to help with their drafting, thereby avoiding any confusion and misunderstanding.
  • The agent should ask the seller whether he/she has dealt with the property in any manner within the past few months that might delay its delivery - for example registering a second bond over it.
  • Find out what the seller's obligations to the current bondholder are.
  • Ask the seller about any peculiar quirks relating to the property such as patent but obscured defects or onerous conditions attached to the property.
  • On taking the offer from the purchaser, draw his/her attention to all the costs which he/she could incur and particularly those which must be paid in advance of the transfer being registered.
  • Insist that the conveyancer keeps one abreast of the matter's progress.
Remember: Conveyancing is teamwork and one weak link can delay the whole process.

Full article on Maxprop

Leave a comment:

Security Picture (click to change)
Word shown in picture:
menu close

Search Articles