Some real estate transactions are easy and straightforward. As long as the seller and buyer agree, the trade can occur without any problems. On the other hand, some property transactions have a strict procedure, and even if all the parties are in agreement, they can still be hectic. When selling a house, for instance, you will have to deal with intricate procedures and paperwork.
Conveyancing is one of the procedures you will need to deal with when selling your property. This is a transfer document from the buyer to the seller, and many people don't take the time to handle it right. Since property deals involve legal documents, any error could lead to complications. Here are some mistakes to avoid when handling the conveyancing process.
1. Giving Inaccurate Information
The process of selling a house is overwhelming, and many people selling their homes will want to rush and complete the process. Thus, when filing information about their property, they will not take the time to double-check the facts they are providing. As a result, they might provide inaccurate information unknowingly.
Although it might seem to be an innocent mistake, it could land you on the wrong side of the law. If you are not cautious when filing the form, the buyer might notice the inaccuracies. In turn, they might take you to court and charge you with misinterpreting the truth.
2. Hiding the Condition of Your House
It is not unusual for sellers to look for ways they can increase the value of their homes. However, that should not be at the expense of hiding some information about your home's condition. It is paramount for you to be honest when filling out the details, even if it might lower your home's value. It is not easy being honest, especially if it is going to cost you.
However, hiding the truth from your buyer might lead to you getting some compilation in the future. If the buyer suffers a loss because they relied on the information you gave them, they could file a misrepresentation claim.
3. Not Including What Will Be Left in the House
As a house seller, you might not carry everything with you when you are vacating the house. You might assume leaving the curtain behind or even the chandelier will not have any effect. However, note that if you leave any item not in the contract behind, the buyer has to deal with it. In case the buyer does not like the surprise you have left behind, they might take the matter to the courtroom claim cost of removal. That might lead to you having to pay a hefty fee
When dealing with the conveyance, involve professionals. It is the simple things that can make a simple transaction turn into a serious court matter. Get a conveyancer to guide you through and to ensure you don't encounter any challenges.