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Conveyancing: Do I Need A Solicitor?

The process of buying and selling a property, or ‘conveyancing’, can be quite a long and drawn out process. For the most part, people employ the services of a solicitor to carry out all the legal and administrative work for them. But in recent times, many are looking at areas in which financial savings could be made. It is from this climate of cutbacks that the trend of ‘DIY conveyancing’ has emerged. So what, if any, are the advantages of doing your own conveyancing, and do you really need a solicitor?

What Are The Advantages of DIY Conveyancing?

More and more people are turning to DIY legal kits, from making your own will to Do It Yourself divorce. Conveyancing is no different. So what exactly are the advantages?

Save Yourself Some Money

First and foremost, buying and selling a property can be an expensive business. With so many other fees to fork out for, such as surveyors, estate agents, and stamp duty tax, you might feel that conveyancing costs are at least one thing you can save on. However, while you may save yourself money in the short-term, conveyancing fees may turn out to be a fruitful investment should any problems arise in the future.

You Take Control

With DIY conveyancing, you make all your own decisions, receive all the information first hand, and move the sale or the purchase forward at your own pace. Even so, conveyancing transactions inevitably involve two different parties, meaning the element of control in DIY conveyancing can only go so far.

What Are The Disadvantages of DIY Conveyancing?

DIY conveyancing is a risky business, and if something goes wrong it can prove to be very costly, both in terms of time and money. There are many drawbacks, including the following:-

It Is Only Possible In Certain Circumstances

There are very few occasions in which DIY conveyancing is suitable, and should never be attempted if:-

• The property is not a freehold;
• The property is not registered with the land registry;
• The property is not a house (ie. it is a commercial premises);
• The sellers of the property are divorcing or separating.

Time and Complexities

Conveyancing is a complex process. Not only does it involve a great deal of intricacies, technical jargon and expert knowledge, it also takes a long time to go through all the necessary steps.

Insurance

Solicitors are compelled to have insurance that covers any complications that may crop up during the conveyancing process. For most of us purchasing a house will be the most expensive transaction we ever make, and so it is worth knowing that should something go wrong, you will be compensated. However, if you are acting on your own behalf and a problem arises, you will be held personally liable.

Summary

Not only is DIY conveyancing time-consuming, but it is a huge responsibility and has the potential to go disastrously wrong. While it may work for some people, it is not a recommended option. Instead, you should seek out expert legal help in the form of a conveyancing solicitor. They will deal with all the complicated legalities (not to mention the mountain of paperwork) for you, offering you peace of mind during what can be a stressful time.

Ensure That Your Property Transaction Is In Safe Hands

There is only one way to ensure that your property transaction is in safe hands, and that is to ask us to help you.

Please call us on 0121 236 7388 or complete an Enquiry Form and we will be in touch with you.