The New, Simple Conveyancing Approach

The big new buzz in the property market is “the service component”. This major new move is based on technology and market demand for speed and efficiency.

The service component motif is particularly noticeable in conveyancing, formerly a very bureaucratic and in some cases horrifically slow process.

In the past, people didn’t know much about conveyancing or how important it was to the property market. Most people only encountered conveyancing services when buying a home. Now, things are very different, with a lot of professional private property investors in the market.

This is a very different dynamic for the market. The market really needs efficiency to be built in to the entire process of property buying and selling. Huge amounts of money are involved, and delays can be expensive as well as time consuming. Conveyancing, which used to be seen as a ponderous, almost mystic process of paper-shuffling, has been upgrading itself and its services very effectively to meet the demand for speed.

Just as well, too, because the improved and upgraded conveyancing works to everybody’s benefit. Thanks to new technology, conveyancers can now do what used to be a very time consuming job much more quickly. They can also access a lot more information if necessary.

The other big issue- Getting good property information, fast

Conveyancing information isn’t necessarily simple. There are other good reasons why property investors need their information to be good and quick:

These are basic property information sources:

  • Title search
  • Council records search
  • Environmental planning information
  • Heritage listings

Thanks to good title information, basic conveyancing is now streamlined and highly efficient. The issues for property investors in conveyancing are more complex, and they’re all about bottom line issues. They need to understand the ramifications of title issues, council problems, environmental planning, etc. The value of any property investment is based on the core values of the property. The faster investors can access and deal with any issues related to the property, the better.

This is a simple example:

An investment property is subject to a Local Environment Plan (LEP), meaning there are statutory issues related to land use. These statutory issues vary depending on the LEP, but they’re critical information.

So-

  • The conveyancer finds the LEP issue on title or elsewhere.
  • The property investor investigates the LEP issues.
  • A decision is made regarding the LEP’s effect on property acquisition.

The investor may have saved or lost millions on the basis of this conveyancing information. It’s a judgment call whether the investor wants to proceed or not, but you can see how crucial that information is, right at the beginning of an investment. For the price of conveyancing fees, professional property investors have a 100% trustworthy source of information regarding their investments, both when buying and selling.

One thing all property investors should consider regarding conveyancing- All successful professional investors seek professional property investment advice regarding every investment they make. They won’t move unless they have all the facts.

That’s why you need a conveyancer.

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One Response to “The New, Simple Conveyancing Approach”

  • alanc230 says:

    Having the facts is important in any sizable financial transaction, not only those involving real estate. That’s why “Consumer Reports” has been so important for many years.

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