
One of your key team players is your legal representative. Before any property is placed on the market, the vendor is obliged to draw up a contract of sale (it’s a legislative requirement). Agents are not allowed to market a property, or conduct viewings until they have a sale contract. When viewing any property, you have the right to view the contract – this will help you understand the type of ownership on the property (known as the type of “title”), it will also show any by-laws that are in effect, whether there are easements, rights of way, covenants, caveats, etc.
You should recruit a conveyancer or a solicitor who can review the contract with you. Like most people, reading a contract is not a common pastime, and unless you’re familiar with the contents, it can be easy to miss critical points. This is where your ‘expert’ will advise you. They will: -
Ensure that the contract is in order;
Confirm ownership;
Explain the terms of the contracts;
Explain the special conditions;
Act on your behalf to vary the contract if need be;
Explain your legal rights, and what commitments you’ll be making as you progress through contract exchange, "cooling off" and settlement phases;
Liaise with the vendors legal representative.
Whilst it’s not mandatory that you engage a legal representative, it's strongly recommended. The last thing you want is to buy a home, only to find that some other party has partial rights to it!
When you’re looking for a legal representative, make sure that you choose someone you feel comfortable with – remember that your legal team work for you – not the other way around! Do not get stuck with a team member that thinks that you should fit into their schedule – Set each others expectations up-front, talk about how long the process should take, and how willing they are to act quickly on your behalf - Unfortunately some sales get held up (and even fall through) because solicitors / conveyances have acted too slowly - they have been "too busy".
Ask friends and family if they can recommend anyone – and make sure you have a good rapport with your chosen legal rep.