Obtaining ownership of real estate is not something that occurs simply by signing documents. It is a process that requires registering the property in the name of the buyer in a deed registry office. Conveyance can be defined as a legal process that oversees the legal transfer of ownership of real estate. With each property for sale, a new deed transfer must be made and registered and a convening lawyer or solicitor guarantees certainty and security throughout the process.
Typically, a total of three transfer attorneys handle the property buying and selling process. There is the transfer lawyer who handles the transfer from the seller to the buyer and therefore is appointed and represents the seller and then there is the registrar lawyer who registers the bond on the property in favor of the financial institution that could be financing the purchase of the property. . The representative represents the buyer and the bank that has granted the loan and therefore can be appointed by the bank. The other attorney is the cancellation attorney who cancels any existing mortgage loans on behalf of the seller and is appointed and represents the bank in the cancellation of the seller’s bond.
Homework
As a seller, you should definitely use the services of carriers to ensure that the transfer process is quick and safe for all parties involved. When you hire an attorney, you should expect that:
1. Protect your interests as a seller above any other consideration other than the necessary legality in the process.
2. Inform you of the procedure that will be followed and keep you informed of the progress of the transaction so that you are not left out in any way in the sale of the property.
3. Advise you on the content purchase offer, especially when there are conditions that may have effects and therefore you must know them.
4. Advise the seller on bond cancellations, notice periods, penalties, and any other administrative fees that could end up affecting the settlement figures you likely expected.
5. Request your instructions before guarantees are issued during the transaction and commit to record the transaction as close as possible to the agreed date in the buying office.
6. To inform you of your obligations regarding the purchase offer, so that you do not experience avoidable delays in handling the process.
7. Schedule meetings with you to review any documentation that needs to be explained so that you can agree and successfully complete the transaction.
8. Prepare accommodation deeds carefully so that the risks of rejection are kept low during documentation by the responsible deed office
9. Give you information about the transfer and/or the exact day of registration
10. Offer you an account of all finances that relate to the property sale transactions a few days after the registration is made.
It is always good to ask your transfer attorney what services will be provided so that you can be sure that the process of selling the property will be handled in a professional manner.