Buying and selling a real estate property is totally different when compared to buying and selling of other movable or immovable assets. Hence, it is important to have a clear understanding of the various aspects that play an important point as far as real estate buying and selling is concerned. Whenever a property is being bought or sold, before the actual ownership transfer takes place, there are a number of other steps and processes that should be completed. Even before the formal agreement is signed by the buyer and the seller, a number of checks, counter-checks and investigations are carried out. This is because even the smallest of property buying and selling could run into thousands of dollars. Therefore, both the buyers and sellers would like to secure their interest and safety if possible beyond one hundred percent.
Towards this objective, the role of conveyancing becomes very important. Put in plain and simple words, conveyancing is about the various processes and steps that have to be gone through before the ownership gets transferred from one entity to another. For example, there could be the need to find out the fair market value of the property that is being bought or sold. This has to be done by a qualified and experienced valuer who forms a part of the entire professionals who belong to the chain called conveyancing. In the same light, the role of property lawyers and attorneys is also extremely important. Their role is to check on the legal sanctity and legal tenability of the property that is being bought or sold. There could be hidden dangers lurking in some properties in the form of easements, covenants and other encumbrances that could impede the unblemished and clean ownership of the property in question.
Further the reports provided by conveyancers also help in more ways than one. When a valuer submits a valuation report it is no about just a figure that presumably represents the fair market value of the property in question. The valuation report has a bearing on the property tax payable, the stamp duty applicable and also for various other reasons. Further, the qualitative aspects of these valuation reports also help the buyers to take a call on whether to buy or not buy a property.