Why You Need to Think Twice before Choosing Your Settlement Agent

Did you know that your choice of settlement agent could be critical when you're in the market to buy a new property? This is particularly the case if you haven't done this before, because the entire process is involved and presents many potential pitfalls for the unwary. For many people, the purchase of a home is one of their most significant transactions and if not handled properly could result in the loss of a dream house. With so much at stake, what do you need to consider when you choose the right agent?

Connection

There are certainly many steps to take as you go through different stages of the contract leading to settlement. However, probably the most important factor to consider is the type of rapport you have with the agent. You need to connect with the individual and be sure that they understand your specific situation. You will have your own questions and ideas and must make sure that you get the right level of attention in return. The best settlement agent will also come up with some questions for you, based on their understanding of your position and a proactive agent will likely cover situations you may not have considered.

Communication 

The settlement agent needs to take the lead and reach out to all other parties, to make sure that deadlines are adhered to, especially when the actual settlement date approaches. Make sure that they are available as and when you need them, so regular communication takes place. This will help avoid any misunderstandings.

Reputation

Do your own research to see how your candidate agent is viewed in the marketplace. Do they have a reputation for checking every detail and for treating the due diligence process with great care? There are a variety of deadlines imposed by government agencies and there is no room for any mistakes. Remember that your dream house is at stake and you will be the one who will have to pay penalties if something is missed.

Lawyer or Specialist

Some people choose to engage a lawyer who is registered as a conveyancer in their state. It's not always the best way to proceed, however, because while they may be qualified to give advice, they are not necessarily specialists in settlement detail. It may be better for you to seek out a licensed settlement agent specifically, as their in-depth knowledge will be up to date and better placed to serve you.

Don't take any risks as you seek to secure your new home. Remember just how important this transaction is and choose your settlement agent wisely.

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