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WHO NOMINATE THE CONVEYANCES AND WHO PAYS FOR IT?

 

In property sale transactions, it is the seller that has the right to nominate the attorney that will attend to the registration of transfer of ownership.  Why is this so, taking into account that it is the purchaser who pays the costs of the conveyancing attorney?

Sellers often take little interest in who are appointed as conveyances because the purchaser pays the conveyance’s fees.  However, even though the purchaser finances the transaction costs, the election to nominate the conveyances rests with the seller so that the process can be driven by the party who has the least interest in delaying transfer.

A late transfer will cost a seller money in lost interest and opportunity cost and, if transfer of the property sold was intended to occur simultaneously with property that the seller has purchased, delays can also cause much anxiety and embarrassment.

Therefor, exercise your right to appoint a conveyancing attorney by entrusting the realization of the proceeds of your sale to a trusted name.  After all, it is not everyday that one gets to choose something of value that someone else will pay for, especially professional services.

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