3 Vital Things To Check Before Signing A Transfer Deed

Buying a home is far more stressful than it seems. When you’re a kid, you don’t notice all the technical things that happen in the background. Your parents simply tell you you’re moving and you deal with weeks of packing and unpacking. It’s only when you become an adult and handle a real estate transaction that you realise how much legal mumbo jumbo is involved! 

You’ll be working with various solicitors and other professionals, but you’ll eventually be handed a transfer deed. Think of this as a contract that officially transfers ownership of the house from the old owners to you. It’s a monumental moment in your life – one swift signature stands in the way of you and your first home. 

You’re excited because you’re finally having a place to call home and create new memories with your family. But don’t let this excitement cloud your judgment! There are things to check before you sign a transfer deed – and these three are the most important: 

The Property

First and foremost, ensure a thorough check is done throughout the property. You don’t want to move into a new family home and discover hidden issues like asbestos in the ceiling or mould in the attic. Once you’ve signed a contract, it’s hard to get the previous owners to do anything. Their legal team will argue you didn’t do your due diligence, so make sure you hire someone to conduct a detailed home inspection so you know everything about the house you’re buying. 

Terms & Conditions

It sounds obvious, but you have to read through all the terms and conditions before signing a transfer deed. What might you need to be wary of? Look for conditions relating to planning permission. Perhaps there are hidden conditions that make it harder for you to obtain planning permission in the future. You can’t do all of this on your own as some of the terms and conditions are complicated. Working with an experienced property lawyer is the best bet as they’ll explain everything in layman’s terms while also advising you as to whether or not you should sign the deed yet. 

The Sellers

There are a couple of things to check regarding the sellers. Firstly, a background check may help you figure out if there’s anything untoward about the people you’re buying the house from. More importantly, you need to be sure that the sellers are who they say they are. That’s why it’s worth getting a Notary Public to watch over the contract signatures and run checks to ensure all parties are legitimate. You don’t want to sign a transfer deed only to figure out that the sellers were conmen! 

It pays to be cautious, even though you’re eager to sign the deed and move into your new family home. When you’re confident that the property is as you expect, the conditions are fair and the sellers are legit, then you can go ahead and sign the need. After this, you’re straight into moving mode – which is equally as stressful!