Can You Do Your Own Conveyancing?
Conveyancing refers to the transfer of the legal title of a property to one person from another. Although it is legal to do your own conveyancing, it is not recommended. Working alongside a conveyancer comes with an array of benefits that will help you in the long run.
Moving home can be daunting as it is, so getting additional help is essential. It’s understandable why some people attempt to do their own conveyancing - legal fees play a huge role in people avoiding hiring a conveyancer.
Doing your own conveyancing often results in making mistakes. Making mistakes can be expensive to correct - this is why it’s important to consider working alongside a trained professional before going ahead and doing it yourself. If you make a mistake whilst conveyancing, expect to pay out a large sum of money to a lawyer to help you amend the errors. To find out more about doing your own conveyancing, read on.
What is Conveyancing?
What is conveyancing? Conveyancing is the legal side of selling and buying property. Put simply, conveyancing is the process of property transfer. Skilled conveyancers specialise in the more tedious, legal aspects of moving home.
Conveyancers help you with buying or selling a property and working alongside one is advised. If you are having a mortgage or remortgaging your current property it is mandatory that you instruct a conveyancer to act on your behalf. It’s crucial that all legal factors of mortgaging are dealt with accordingly and the correct procedure is carried out.
DIY Conveyancing
Although it is not advised, it is possible to carry a simple property transaction out yourself if you are not using mortgage finance. If your transaction involves a mortgage lender, you must instruct a conveyancer to deal with the transaction on your behalf. It would not be advisable to perform DIY conveyancing if you’re dealing with leasehold properties, properties that aren’t registered on the HM land registry and sellers who are separating.
Although doing your own conveyancing prevents you from having to spend additional money, there is an array of disadvantages that comes with doing so. Be prepared for a copious amount of paperwork. Conveyancers spend around 30 hours over the course of a few months dealing with the legalities of your property.
It is important to put time aside - the process is lengthy and can become stressful if you’re juggling other tasks in your personal life at the same time. Legal documents can be challenging to understand. If you have a wealth of knowledge and experience in the sector, then dealing with the legal side of property buying and purchasing will be easier for you to deal with compared to some.
It is unlikely that without being trained, you will understand what to do. There is no doubt that Google will become your best friend, but is the time spent researching to comprehend the legal jargon going to prevent you from making mistakes?
Advantages and Disadvantages of DIY Conveyancing
When it comes to doing your own conveyancing, it is best to have a trained property lawyer deal with your legalities. There are pros and cons to DIY conveyancing, but it is common to find that the short-term advantages have the potential to turn into bigger problems down the line.
The biggest advantage of doing your own conveyancing is cost saving. Fees typically vary depending on the value of your property, but this is the price you pay for experience, accuracy and professionalism. It is easy to see why DIY conveyancing crosses people's minds, but if you are able to avoid this option altogether, it’s best to do so.
There are plenty of reasons to avoid DIY conveyancing. Doing your own conveyancing might end up taking longer than usual, especially if you have no experience. It’s not uncommon for people to end up getting professionals to resolve their mistakes, which ultimately ends up costing you money regardless of how much you’re trying to save.
If you are a new buyer, informing other parties that you are undertaking your own conveyancing could prevent them from taking you seriously. Sellers don’t have time to wait around for you to gather research - any delays on your behalf might result in the sale collapsing.
Conveyancing Services at Bell Lamb & Joynson
Bell Lamb & Joynson are well-established within the industry, offering expert conveyancing services. If you are looking at working with a property lawyer, you’ll be glad to know that we will be able to help. Operating since 1821, it is clear to see why clients return to us for additional services and advice.
We can assist you in your legal matters, whether they’re property-related or not. Our team of highly skilled property lawyers are experts in their field and guide you through the process to allow you to have a better understanding. We’re by your side to make your property dreams come true.
Our team specialise in a wide variety of residential property transactions, including property sales, purchases, transfers, and remortgages. You can expect to receive bespoke advice and fast, efficient service when you choose Bell Lamb & Joynson. We remain on hand at all times to answer any ongoing questions or concerns you might have regarding your property.
We build close-knit relationships with our clients and have their best interests at heart. If you ever need a listening ear or someone to turn to for advice, you can rest assured that your appointed lawyer will be there to help. We ensure our clients are fully aware of their rights before any contracts are signed, meaning you can proceed with confidence and trust.
If you’d like to find out more information about our conveyancing services feel free to contact us today at 03444 124348. Alternatively, email us at contact@bljsolicitors.co.uk. We look forward to hearing from you in the near future.