Conveyancing is simply the legal term for the transfer of a property's legal title from one person to another, so it's something you'll have to go through whenever you buy or sell a property. This involves first the exchange of contracts, which is when terms are fixed, and then completion, which is when the legal title is actually passed. It's usually something people leave to a conveyancing solicitor. However, you can find DIY conveyancing kits online.
While those DIY conveyancing kits might seem like a good way to save a bit of money, it's actually far smarter to simply engage the services of a conveyancing lawyer. Here are just four reasons why.
1. You'll Save Time and Effort
At first glance, it can seem like the conveyancing process is relatively straightforward. However, this is not the case. It's a relatively labour-intensive process that involves understanding legal jargon and filling out many forms. This means it can take a lot of effort if you haven't been through the process before. Given the amount of time and effort required, not to mention the other things you'll be busy with when selling or buying a home, it's wise to simply leave it to a professional.
2. You'll Prevent Delays
Even if you're fine putting in the time and effort necessary to do your own conveyancing, you're probably not going to get things done as quickly or effectively as a professional. After all, you will mostly be learning as you go. This can cause delays that have the potential to interrupt the entire process. In some cases, such delays can even mean a potential buyer walks away or a potential home is taken off the table.
3. You Can Avoid Costly Mistakes
DIY conveyancing means risking mistakes, and these can end up being extremely costly. Conveyancing lawyers will have professional negligence insurance to protect themselves, and they'll also be far less likely to make any mistakes in the first place. You will have no such insurance, so you'll be held personally liable for any mistakes. This usually means facing court and legal fees that can be quite steep.
4. You Won't Save That Much
Even if every part of the conveyancing process goes swimmingly, you probably won't end up saving that much by doing everything yourself. You will still have to pay all relevant fees, so a DIY conveyancing kit is only likely to end up saving you a few hundred dollars. Given the risks involved and the amount of money at stake in most property transactions, it simply makes more sense to get a professional involved.
Contact a local professional to learn more about conveyancing.
