Most people hire a solicitor or licensed conveyancer, but it is possible to do the conveyancing work yourself. This is commonly known as DIY conveyancing. This can certainly be a cheaper option as there will be no fees incurred, and no VAT on any of the disbursements. However DIY Conveyancing can be risky if you lack the necessary expertise and are unfamiliar with the legal jargon. The conveyancing process is a vital part of property buying and is both complex and time consuming. Ensuring that it is done properly will prevent things from going disastrously wrong, e.g finding yourself involved in costly legal disputes or even finding that the seller did not have the right to sell!
Many mortgage lenders insist on hiring a professional and some sellers will reject an offer if the buyer palns to do the conveyancing themself.
DIY Conveyancing is particularly inadvisable if the property is not a house, if it is not a freehold or if it is not registered. If the property is being sold by a separating couple, special knowledge is required and DIY conveyancing should not be considered.
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2 comments:
Conveyancing is a really complex process. It's amazing how many people out there are trying to promote DIY conveyancing. This is just crazy. Why don't people just forget about saving a few hundred pounds, and appoint a qualified professional to do the work. After all, you wouldn't try to perform an operation on yourself, or let someone unqualified to it, just to save some money. There are many things in life where DIY cost cutting is inappropriate and risky, and conveyancing is one of them!
I find DIY conveyancing very ironic since conveyancing is a very complicated skill that you won't use that often (if you don't plan to be a professional conveyancer). Like Dan said, just hire a professional. I worked with a conveyancing Adelaide service when I was in Australia and it saved me a lot of headache.
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