Why Home Buying Or Selling Is Now A Lot Simpler
Have you noticed that there's always a digital solution to any commercial problem? For example, if you don't want to travel anywhere physically, you can order all your goods and services from a web page and receive the answer to your problem as soon as possible. So, you may be wondering if you can apply these virtual rules to your house-hunting experience, especially when signing on the dotted line. Well, the good news is that you can, and e-conveyancing is now the preferred option. But before taking advantage of this solution, what steps do you need to go through?
Electronic Conveyancing Explained
Electronic conveyancing allows buyer, seller and their nominated representatives to conduct the necessary formalities online. They don't have to meet any more as was once the standard procedure. So you won't have to travel to your conveyancer's office and meet with the other parties and bank officials to sign everything.
The Need To Check Identity
However, all parties must still be comfortable and able to confirm the identity of those involved. Otherwise, there could be a risk of fraud, and the banks in particular would think twice about any financial involvement. So, the Australian government initiated a process that you must follow before any title can change hands and the electronic conveyancing procedure can continue.
How Does This Work?
Both buyer and seller will need to visit their own respective conveyancer so that the professional can validate their identity. You will need to provide a government-issued form of identification, such as a passport or a driver's license. The conveyancer will then confirm that you are who you say you are and will keep a copy on file. On the rare occasion that someone cannot produce a government-issued ID, they should bring someone else with them who can confirm their identity. The conveyancer will then check the ID of this third party and make a note on file accordingly.
What If You're Not Local?
Some people may find it hard to travel for one reason or another or might live a long distance away in another state or territory. In this case, they can go to their local Australian post office and may be able to conduct the necessary formalities there.
Your Best Advice
It's good to see that the home buying or selling process is now a lot simpler than it used to be. Nevertheless, you should always work with an experienced conveyancer who will advise you about all the steps involved and ensure that you do not make any mistakes along the way. Contact a conveyancing service to learn more.