Property Conveyancing In Today’s Automated World
Summary: The computers and modern technology is impacting many businesses and property
conveyancing is also no exception. Let us see how the internet can positively impact modern
day conveyancing business.
Though even today a major portion of property conveyancing business is done through the
brick and mortar route, there are clear evidences to suggest that the internet is becoming a
major player as far as quality conveyancing is concerned. Over the past few years scores of
real estate conveyancing companies have taken to the internet in their bid to give a new thrust
to their business. This is because of increased competition and also changing customer habits
and preferences. Time is a major area of concern for many customers. Their busy life schedule
prevents them from making regular trips to various conveyancing companies, service providers
and government departments in their bid to successfully complete transfer of property
ownerships from one entity to another.
It is therefore both an opportunity and a challenge for conveyancing companies to understand
this changing facet of customer needs and requirements. Only when this is understood by them
well will they be in a position to modify their business activities in line with changing times. The
basic minimum requirement for any conveyancing company today is to have their own website
without which they might be forced to go out of business over the next few years. The process
of automating conveyancing business is well and truly on and therefore conveyancers should
not be caught napping when this automation will see a surge.
There are certainly a number of advantages for the conveyancing companies too. They will be
able to bring in more efficiency and remove manual bottlenecks. This will result in improved
services to customers and will also result in increase in productivity. This is bound to translate
into lower costs of services the benefits of which customers will enjoy. However, the process
of automating part or entire conveyancing should be done in phased manner and carefully
considering the various pros and cons. As a starting step, it is important to ensure that the
back office is first automated. Without this being completed, trying to automate the front end
and offer online conveyancing will create more problems than solutions. However, in spite of
understanding the importance of technology, there is also the need to keep in mind the good
old objectives of unwavering commitment to customer service and customer excellence at all
points in time.
How Modern Technology Is Important For Conveyancing
Computers, internet and mobile telephones are certainly the biggest movers and shakers as far as modern day technology is concerned. These three inventions of technology have well and truly redefined the way we live our lives and the way we communicate with people. It has also given a paradigm shift to the way in which business is done these days. So, if you are running a conveyancing business and out not using modern day technology, it will not be long before you will be left lagging behind in your business. Today the use of these technologies in conveyancing sydney business may not be as high as in some other business. However, it is not be long before automation and use of internet technology becomes extremely important for even the smallest conveyancing business. Let us over the next few lines try and find out how these technologies can enable your conveyancing business to take a quantum leap so to say.
The biggest advantage with internet and mobile technology is their reach and power. Within a split second one can reach information from one end to another, irrespective of the location, time and distance. This certainly works to a great advantage as far as conveyancing business is concerned. There is no doubt that conveyancing at the end of the day is a service and not a product. The best way to reach a product to more number of prospects is through efficient and intelligent networking. Towards this objective there is no doubt that the internet and mobile phones can play a pivotal role.
Hence, as a starting point it is vital for real estate valuer to have their own websites. This will lead to increased numbers of visitors visiting the website for gathering information and also looking for some new knowledge. Further being present on the internet also allows conveyancers to be more aggressively present on the various social media websites. For example, if you are presence is felt very strongly in Facebook, Twitter and other such networking sites, it will not be long before you start seeing the results in the form of enquiries for your conveyancing services. However, it is important that you need to be continuously aggressive. The contents in your website should also be changed quite regularly. Last but not the least, focused and highly targeted SMS campaigns can also help a lot as far as your conveyancing business is concerned.
The Importance Of Property Conveyancing Explained Lucidly
Before getting into the nuts and bolds of relationship building and networking for giving a
thrust to property conveyancing, let us get started by understanding what conveyancing is
all about. Whenever a property is bought or sold there are a number of steps and processes
that have to be followed. These are broadly classified as steps to be done before entering into
a contract and the steps to be followed once the agreement has been signed. Before signing
the agreement there is the need to identify the right buyer or seller as the case may be. It can
be individually, through the help of real estate agents or using the power and reach of the
Once the agreement to buy or sell has been signed by both the parties, then there is a legal
obligation that has to be discharged by both the parties. Hence, it is incumbent upon the seller
and the buyer to honor what they have agreed upon in the agreement. However, buying or
selling a real estate property is not as simple as paying the money and walking away with the
property. There are a number of legal and other issues that have to be taken care of. First
and foremost, the buyer has to be certain that he is buying the property at the right price. To
ensure this he or she has to avail the services of an experienced real estate valuer or property
appraiser. The valuers’ report also contains some very useful and pertinent information about
the quality of infrastructure, availability of amenities and facilities and other such details. These
can be very useful for the buyers in particular.
The next important job is that of property lawyers and attorneys. Their main responsibility
is to ensure that their clients are buying the right property that is legally perfect from all
points of view. They are assigned with the responsibility of examining the property and other
legal documents closely and ensuring that there are no pitfalls and unexpected surprises at
each bend. Special attention is paid to points such as easements, covenants and other such
encumbrances that could have a negative impact on the quality of ownership of the property in
Last but not the least there are others professionals whose roles are also very important.
Special mention has to be made about the roles of those who draft agreements, vet the same
and have it executed by following the due processes of law.
Useful Information About Property Settlement For First Time Buyers
There is no doubt buying a home or even a small apartment for the first time can be a very
difficult and challenging assignment. This is mainly because of two reasons. First is the lack
of knowledge about these matters and secondly lack of time. Most of the retail real estate
customers are either job goers are small or midsized businessmen. They do not have to run
after the various professionals and lawyers in their bid to ensure that the entire process of
property settlement happens smoothly. It is therefore not very surprising for such customers
to take the help and support of qualified and experienced property settlement companies or
For first time buyers the very thought of getting in touch with the property lawyers and
solicitors could be a daunting and even intimidating task. Trying to do it on your own based on
some half-baked ideas on the internet would certainly lead to more problems than solutions.
Hence the best way forward would be to get in touch with some experienced and capable real
estate property settlement agencies or companies. Apart from experience and capability they
also have the wherewithal to handle even the most complicated settlement issues. Therefore
as a customer you should immediately hire their services once you have decided in principle to
buy a real estate property.
Property settlement is very important because it helps the smooth ownership of property
from the seller to the buyer. Unless the name of the buyer gets reflected in the books of
government, the entire process would deem to be incomplete. Further, the process will be
considered complete only when the seller has received the rightful consideration that is a part
of the sale or purchase agreement. To ensure that everything in between happens well on time
and without any hiccups, the role of property settlement companies is very important. Whether
it examining the documents from the legal standpoint, taking care of the property valuations,
drafting and preparing the agreement both for the buyer and seller, these professional real
estate property settlement agents certainly have a very important role to play.
They also go out of their way and beyond their normal call of duties to add more value to the
customers. For example, many property settlement companies while valuing the properties also
ensure that the valuation report contains a lot of other subject pieces of information that could
be extremely useful to the buyer.
What Should My Property Valuation Report Show
Many of us are under the opinion that a property valuation report is all about the single figure
that talks about the fair market value of the real estate property? Is this the only piece of
information for which the services of a property valuer is required? This is a common question
that comes to the mind of many customers. The answer is no. While there is no doubt that
the fair market value is the main reason for hiring a property valuer, this alone is not the only
piece of information that is available in a professional valuation or appraisal report. There are
a number of other useful pieces of information that also should be taken into account and read
To understand more about the various other pieces of information that are available in a
property valuation report, it is extremely important to have a clear understanding about a few
other things too. One should have some basic idea about the process flow that a valuer goes
through when a property valuation request is received. The first thing that a valuer does is
to manually examine the property once the valuation request has been received by him. He
carefully measures and examines the property and ensures that the physical measurements
match with the actual details that are available in the property documents.
He also takes effort to find out more about the registration details as available in the
government records. He makes sure tat the property has changed hands perfectly and there is
continuity from one change of ownership to another. It is also the responsibility of the property
owner to ensure that he gives the correct picture about the property tax payable and also the
stamp duty that is applicable.
While these are very specific and figurative information there are a number of subjective
pieces of information that should also be kept in mind when looking up a valuation report.
For example no valuer will give a report without making a mention about the quality of
infrastructure that is available in the area where the property is situated. They will also come
out with a rough market value of similar properties in the area. They will also share information
about the quality of people living in the neighborhood and so on. Hence, a good valuers
report will be a very useful combination of both subjective and objective pieces and bits of