If you a buying or selling a property, do you really need a conveyancing solicitor? Are there any benefits, or is it an unnecessary expense that could be saved by carrying out the conveyancing process of your own accord? We take a look at these questions, helping you to decide whether or not you really need a conveyancing solicitor.
DIY Conveyancing: The Pros and Cons
‘Do It Yourself’ conveyancing is becoming increasingly popular in this current economic climate, as people buying or selling property are looking for ways to save a few extra pennies. Not only that, it also places responsibility in your hands, giving you maximum control over your property transaction. However, it is important to remember that DIY conveyancing is not for everyone: while there are some benefits, there are a number of disadvantages that need to be carefully considered before committing to the DIY-route.
First and foremost, it is only possible in very particular circumstances. This is because mortgage lenders will not always deal with people who do not have legal representation. Even if they do, you will still have to pay for your lender to instruct a solicitor. Additionally, DIY conveyancing is not appropriate if the property is:-
- Not a freehold;
- Not registered with the land registry;
- Not a house (ie. it is a commercial premises);
- Being sold by a divorcing or separating couple.
Secondly, the conveyancing process is both complicated and time-consuming. It takes a significant amount of time and effort to organise the paperwork, correspond with the other side and draw up the necessary documents. To make matters more complex, the entire procedure is dominated by legal technicalities and jargon; while this will come easily to a trained conveyancing solicitor, it can pose a number of problems to anyone unfamiliar with the ins and outs of conveyancing law.
This lack of knowledge and expertise could prove disastrous, as those undertaking the conveyancing process on their own will be personally liable for any inaccuracies or oversights. Whether there is an error in the contractual agreement or problems with the paperwork, mistakes can prove costly, particularly as there is so much money at stake.
The Advantages of Using a Conveyancing Solicitor
Using a conveyancing solicitor will ensure you avoid the aforementioned difficulties. Buying or selling property is stressful enough without having to worrying about the legal aspect of the transaction. But with a professional acting on your behalf, you can rely upon their professional knowledge and expertise throughout the entire process. This will ensure that you:-
- Have access to legal advice at all times;
- Do not fall victim to any legal pitfalls;
- Can rest assured that all the important details and technicalities are met;
- Can rest assured problems will be quickly identified and dealt with;
- Will not be held personally accountable if something goes wrong;
- You will be covered by professional indemnity insurance, so you can feel safe in the knowledge that you will be covered in every eventuality.
Contact Us Today
To talk to a conveyancing solicitor about your purchase or property sale, contact us at Roskell Davies solicitors and speak to a dedicated member of our conveyancing team. We have the necessary skills and expertise to assist you for the duration of the conveyancing process, helping to ensure your move runs as smoothly as possible.