Conveyancing is when the previous home owner transfers his ownership data to you. In BC, the real estate conveyancing process takes place after a written agreement has been signed and all subjects to the deal have been signed off on. In other words, this is the final contract. The process may seem simple but this is not always the case. There are strict legal requirements for property transfers in Vancouver, Surrey, Burnaby, Coquitlam, Langley, and Abbotsford. It gets more complex when the property has unpaid taxes, leans or liability involved. Third party interest or claims get involved and this can delay the process of transferring ownership. In BC, there are several different options for the conveyancing process. Often times your realtor will recommend a real estate lawyer or legal professional. The convenience of the internet allows you to do you own research by typing key words into Google or by reviewing your local real estate related directory. Many directory companies recommend real estate lawyers available in the BC area.
Once you select a real estate lawyer you will receive a letter of engagement confirming the terms of the real estate deal. You should sign and return this as soon as possible so they can start working on your deal. Many people buying houses in joint names need to make important legal decisions with regards to joint names. If one party died it needs to explained who the beneficiary of the ownership would be. By creating a joint tenancy the survivor automatically owns the property. So you must inform your lawyer of whatever decision you make. Your lawyer should do all the necessary title searches and back ground work with regards to the property in question.
An average price for a real estate lawyer here in British Columbia to transfer your property’s ownership is between 800 and 1500 dollars. Please advise your local lawyer for more information on this process as they can give you reliable legal advice.
Shane And Sheleana work together to educate home buyers and sellers in Chilliwack. BC is a beautiful place! Find a Realtor who knows how to showcase it.
Conveyancing Process in British Columbia
