Though we mostly talk about property buying and selling that happens only in the towns and cities, we often fail to recognize the fact that there is a big amount of property dealings that happen in the villages and in the countryside. However, unlike cities and towns where the sale is usually restricted to homes, apartments, commercial properties, offices or even factories and warehouse, when it comes to the rural areas, it include all of the above and also land. Land dealings are perhaps the biggest as far as rural real estate property buying and selling is concerned. This is because there are scores of landowners who would like to either buy their existing landholding or buy new lands for various purposes.
Lands in rural areas are mostly used for the purpose of cultivation or for some other similar purpose. They are seldom used for building homes and apartments. Cultivation lands are required quite regularly even by those who have sizeable landholdings with them. This is because they may need to increase their cultivation quite substantially to meet increasing demands. Further, in rural areas, wine making and wine brewing is a very big industry. Hence, there always would be the need for land for cultivating and growing of different types of fruits and raw materials that are required for increasing the capacity of the wine manufacturing units.
Whenever a property is bought or sold either in the rural areas or urban areas, the process of transferring ownership is one and the same. This process of changing ownership from the buyer to the seller is known as conveyancing. Conveyancing plays an important role in enabling the name of the buyer being reflected in the government books of records. However the process is quite complicated and there are a number of formalities and steps that has to be gone through.
There are many professionals whose roles are important as far as property conveyancing is concerned. They include real estate lawyers and attorney, property appraisers, documentation professionals and other administrative resources. While the role of each and every one of them could be the same for both urban and rural buying and selling the role of property appraisers could be quite different. Valuation of a rural land or rural property is not the same as valuing of an urban property. The parameters are different, the yardsticks are different and even the method of valuation could also be different. Hence, there is bound to be slight differences in the way urban and rural properties are valued.
Though there is no doubt that the role of property conveyancing professionals is very important when it comes to transferring of property ownership from the seller to the buyers, here are some examples where the conveyancers could be damaging your cause by going slow on property conveyancing. Hence, when you are looking for the best of property settlement professionals, you have to bear this point in mind and tread carefully. This happens mainly because there are quite a few conveyancers who believe that the onus lies on the buyer to ensure that he goes through the entire process of property settlement goes forward smoothly.
Hence, if there is anything wrong then there is a tendency of these property settlement professionals to shift the blame onto the buyers. This exactly is not the case and the blame should be apportioned on the sellers’ conveyancers who could be doing it with a purpose to slow down the entire process of property conveyancing.
Whenever there is a buying and selling process involved, there are responsibilities on the part of both the sellers and buyers conveyancers. For example there is something known as HIP or Home Information Pack that has to be given by the sellers’ property settlement agents to their buyer counterparts. This is a legal requirement and many a times this basic process is overlooked either purposefully or by sheer oversight.
In the absence of the HIP the buyer is at a loss to find out whether there are some hidden surprises or not. He moves ahead on good faith and when something drastically wrong creeps up at the last moment the whole transaction could fall in jeopardy. Apart from the above there are other situations too that could cause problems along the way. For example, the registered title deed could be a part of the HIP which could be quite a few months old. This may not be acceptable to the buyers’ property settlement agents and this could also cause delay in the whole process.
In many cases the sellers’ lawyers deliberately fail to send all the documents that are mentioned in the HIP which causes delays in the whole conveyancing process. One has to bear in mind that there is a timeline by which the entire process should be completed and any delay would put the entire transaction at risk. Hence, buyers should be aware of these stonewalling tactics that are often used by sellers’ property settlement agents just to delay or sabotage the entire process.
Those who are in the farming business may have the need to buy and sell farming land once in a while. While this may not be the case with small farming communities, as far as big farmers are concerned buying and selling farming lands is more a practice than a rarity. There are a number of reasons why they go in for purchase of farming lands.
Each farming land has a certain life span. In spite of using the best possible organic farming methods and practices, over a period of time the yields either start stagnating or declining. Hence the organic growth mode often reaches a plateau. Under such circumstances it is very important to look for alternate ways and means by which they are not only able to increase yields but are also in a better position to take over competition.
However, buying a farming land is not and easy job. This is often referred to a profitable and viable option when the organic ways have reached a plateau. There are a number of factors to be taken into account while going in for purchase of a farming land. Identifying the right land is very important and it has to be done only under the watchful eyes of professionals. This is because a number of factors have to be taken into account. The size of the land, the quality of soil, the irrigation facilities, the historical yield and quite a few other points need to be thoroughly analyzed. It can be done only by experts and the next step should be taken after the green signal from these experts.
Once the land has been identified, entering into a selling and buying agreement is another important point that should be given importance. Here the role of property settlement and valuation companies and agents comes to into play. They are the ones who take care of the entire process once an in principle decision has been taken by the buyer and seller. They prepare agreements and other documents and examine the property documents in great detail to rule out any surprises and hidden problems such as easements, encumbrances and other such covenants. They also perform the important role of valuing the property and ensure that the value quoted is a fair representation of the market value.
These professionals also play a big role in interacting and performing liaison work with the various government and other authorities for smooth documentation and other works. At the end of the day when it comes to buying new farming lands these professionals play an important role in smooth and timely transfer of ownership from the seller to the buyer.
Those who are into farming will no doubt understand that the land in which the grow crops, fruits and vegetables is their most important and vital raw material. While there is no doubt that farming lands continue to provide the owners with the best of crops, they also have their own life span. Indiscriminate use of pesticides, insecticides, synthetic fertilizers and other chemicals only hasten the speed at which these lands start losing their fertility. Further, if there are some natural disasters in the form of cyclones, tsunami and earthquakes it is quite possible that the fertility of the farming lands will start eroding fast and most of the times it is irreversible. Under such circumstances there is no other option but to go for new land or farmland purchases. Further if there are big farm owners or landlords as one would like to call them, it is quite normal for them to go in for regular purchase of new farm lands for enhancing their production of crops, vegetables or fruits from their properties.
Buying a farm land is easier said than done. It is quite complex and only those who have the right kind experience and expertise will be able to do it. There are a number of factors that should be taken into account. The age of the land is perhaps the most important factor. This goes a long way in finding out how fertile or infertile it is. Then there is the need to find out more about the irrigation facilities available, the condition of the soil and other such factors. All this requires taking the help and assistance of professionals. Conveyancers and real estate valuers have a very important role to play in the whole process which ultimately leads to the transfer of ownership from the seller to the buyer.
Examining old property records that could run into hundreds of years is something that could be quite taxing even on the most experienced and capable conveyancers. The real estate valuers also have a very important role to play in finding the fair market value of the farm land that is being planned for purchase. Valuing a farmland is a completely different cup of tea and is not as easy or simple as valuing any other real estate property whether commercial or domestic. Hence, it is important to understand the importance of hiring the right conveyancer when it comes to buying the best of farm lands.
There is no doubt that thousands of families make a living out of farming activities. Each year there are hundreds of farm lands that are being bought and sold by farmers for various purposes. In this article we will try and find out how having a good conveyancer can help those farmers who are desirous of selling or buying farmlands. Conveyancing without any doubt is perhaps the most important activity that is needed for ensuring smooth transfer of farming or other real estate properties from one person to another. Whether there is a commercial intent built into such property buying or selling or not, it is virtually impossible to transfer properties without the active support and cooperation of farming communities.
Let us try and understand broadly what the main functions are of a conveyancing company or individual. We will also try and have a look at the various professionals whose roles are extremely important in the entire process of conveyancing. As mentioned above, the main role of conveyancers is to go through the various steps and formalities that are required per the law. Only when this is done will it be possible for the ownership to be actually recorded in the books of the relevant federal or local government authorities.
Since the entire function of conveyancing companies is very critical, customers always find it better to outsource the entire activity rather than having it done by them on their own. It would be virtually impossible to try and do all these functions individually without taking help from professionals. There are many professionals involved in the entire job. Especially when it is about selling farmlands, one needs to go into a lot of technical details failing which the buyers could end up buying the wrong property. Apart from the important role of property advocates and attorneys, the role of property valuers and appraisers is also very important. While the former look into the legal aspects of the property and ensure that everything is in order, the latter is about getting a fix on the fair market value of the property in question.
When it comes to farming land, a bit more care has to be taken before buying it. The valuers and even the attorneys should be able to find out more about the fertility of soil, the irrigation facilities available, and the average yield over the past few years, the distance from the nearest transport facilities and so on.
While there is no doubt that the roles of conveyancers are very important when it comes to choosing the right service provider, we are often at a loss. This is because there are literally scores of conveyancers out there in the market place. Hence when you are faced with a problem of plenty you may not know how exactly to choose the right conveyancer from amongst a crowd. The next point is our lack of knowledge as customers as to what conveyancing is all about. Unless we have a basic understanding about the important functions of a conveyancing company or individual, we will not be able to look out for the right service provider.
Hence, let us get started by understanding the role of a conveyancer. When a property is bought or sold there are a number of important processes and steps that have to be gone through. Each and every one of these processes has their own importance and is interlinked and interdependent. They also have legal ramifications and therefore have to be handled very carefully without any room for mistakes and errors. For example when a property is being sold it is important to ensure that it is property valued. Valuation is very important because it helps the buyers to get a correct idea about the fair market value of the property. Further, there are a number of other qualitative pieces of information from a valuers’ report that could be very useful for the buyers. The fixation of property tax payable and the stamp duty applicable are all important areas where valuation has an important role to play. Hence, without the right conveyancer to help you out this would become very difficult and almost impossible.
Further when a property is being bought, it is important to check on the legal status and legal standing of the same. This calls for examination of the property documents which is done by the real estate lawyers and attorneys. Hence, it is important to always choose conveyancers who have rich experience in valuation, legal examination, physical verification of the property and other such important matters. Experience in this field coupled with the capacity of offering all types of conveyancing under one roof are also points that should always be kept in mind while looking for these professionals.