3 Steps Of The Conveyancing Process

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Buying or selling a home is a tedious and lengthy process. It’s not as easy as it seems. When you want to go through the process, there are various legal intricacies you need to understand.

These legal processes involve how property is transferred from one owner to another. If you haven’t familiarized yourself with the process, it’s important to start now. To make it easier to digest, here’s a step-by-step guide on how the whole process goes.

Before The Contract

The conveyancing process starts when you want to purchase or sell a property. You need to contact a conveyancer, either by asking friends for recommendations or canvas conveyancing fees buying companies.

This way, you will be able to find it less troublesome and time-consuming with all the paper works you need to do. For purchasers, you may need to pay a deposit for the agreement to start.

Contract Drafting To Settlement

First, the conveyancing company will draft a Contract of Sale between the purchaser and vendor. It’s the major document that contains the rights and obligations of both parties.

After that, you can now exchange contracts. You can take time to study the contract and prepare for a smooth settlement. In this stage, you may now assess mortgage payments, arrange property payments, and check all the legal documents.

During this time, the conveyancer will now prepare all legal documents and computer for all payments. These include land tax and water rates, among others. So, a settlement day will arrive wherein both parties will negotiate and land a decision.

Post Settlement

The process does not end on the settlement day. There are many things to be done after settlement. The conveyancer will now work to make sure all legal documents are intact, and the property will be transferred to your name.

Buying or selling a property is a tedious and time-consuming task. It’s important to know the whole process and decide on whether you need a conveyancer to work on your behalf.

Tenant Eviction: What Every Landlord Should Know

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house keysEviction is a necessary evil in the rental property business. Regardless of how meticulously you conducted the tenant screening process, you will likely encounter a bad, irresponsible tenant or someone who will struggle to pay rent.

And because this is business, you have no other choice but to evict them. When it comes to these, you have to make sure that you go through it, according to Colorado law. Ask your local Denver real estate attorney and they will likely suggest reading up on formal legal proceedings to avoid costly mistakes.

Failure to Pay Rent

You can evict a tenant if they are unable to pay rent, but you have to prepare and give them a written, signed notice before proceeding with eviction. The notice must inform tenants about the option to pay rent within three days. Make sure to include the address and description of the property in the “Three Pay Day” or “Notice to Cure”.

If the tenant fails to pay rent within the mentioned period, you may go forward with the case. Some residents still refuse to settle their accounts and may negotiate a resolution with you. For these situations, it’s best to contact an attorney to know how you can best handle these disputes.

The Case of Lease Violation

You may prepare a three-day “demand for compliance” notice if your tenant has violated a condition of the lease. This document must outline the lease terms tenants have allegedly violated.

Eviction will not be necessary, however, if the tenant was able to deal with the problem within the period. But tenants who have breached the same condition more than once will have to vacate the place; you have to give them a “Notice to Quit or Vacate”.

Matter of Criminal Activities

Landlords may pursue an eviction case if they are able to prove that the tenants engage in criminal activities or conduct behaviors that put other residents in danger. Violence or drug-related felony are grounds for eviction.

In these cases where the tenant commits “substantial violation”, you also have to prepare “Notice to Quit” for tenants. This should have the specific time of and grounds for lease termination.

Know the law and conduct the eviction process legally. Consult an attorney if ever you find yourself in a conflict with tenants to ensure that your strategies for resolution are legal.