Purchasing a home is an exciting time, but there are many complexities involved, that’s why you should always hire a conveyancing solicitor. In this article, we’ll talk about the benefits and drawbacks of hiring a conveyancer solicitor.
When it comes to buying a property, you are going to deal with countless professionals, from estate agents, to mortgage lenders, to surveyors. Most importantly, if you choose to, a conveyancing solicitor (which we highly recommend having) will be required to prevent any unnecessary costs or delays.
A Stroud, Cheltenham or Gloucester law firm (or wherever you live) will assist in property transactions in your local area. No matter where you choose to move to in the country, there will be countless conveyancing solicitors available and ready to tackle your case.
To learn the benefits and drawbacks of hiring a conveyancing solicitor, keep reading.
Can you purchase property without a conveyancing solicitor?
It is possible to purchase a property without a conveyancing solicitor; where someone does this, it is known as DIY conveyancing. DIY conveyancing might be tempting, especially where you want to save some money, as the average legal costs in conveyancing are between £850 and £1500. But, conveyancing is complicated and troublesome if not done correctly, so sometimes it’s worth paying a little more.
What are the benefits of hiring a conveyancing solicitor?
There are plenty of steps involved when it comes to conveyancing, steps the average person wouldn’t be able to easily understand, unlike a conveyancing solicitor who is qualified and has everyday experience in the field. Some benefits of hiring one include:
They Have Knowledge of the Local Property Market
When you choose to hire a local conveyancing solicitor, they will have considerable expertise in the local property market, having most likely dealt with hundreds of properties in your chosen area. This will bring valuable insight into the conveyancing process, such as having a reputation with the local estate agents and other professionals related to the process and the value of properties in the area.
Many Aspects of the Process Are Included in the Service
You might not realise it, but conveyancing has lots of aspects involved. Where you attempt to deal with it alone, you will come to realise the sheer volume of energy that goes into sorting a property transaction.
Conveyancing services include dealing with contracts, property searches and completion, stamp duty land tax filed with HMRC, and registering the property transfer with HM Land Registry.
It Saves Time
While you may think it seems easy to handle conveyancing matters on your own, time is money! These individuals are quite literally spending 24/7 doing this job, having trained for it, received qualifications, and have the experience to do it, probably even with their eyes closed.
Because of this, they know exactly what they are doing, and it can save a lot of time rather than yourself looking into doing DIY conveyancing.
Using a conveyancing solicitor will make life so much easier for you, so you can focus on the other more important matters, such as preparing yourself to move.
It Prevents Costly Mistakes
While DIY conveyancing may come across as the cheaper option, if you are to make any mistakes whilst carrying it out, this could come back to haunt you later on. After all, you could make an expensive mistake. Conveyancing is complicated, and it needs to be carried out by a professional who knows what they are doing and has experience doing it.
Takes The Stress Away from You
The conveyancing process can be extremely stressful, and having to do it yourself is not something you want to put on top of an already stressful property transaction.
Letting a conveyancing solicitor handle it on your behalf will reduce the pressure and stress on yourself. You don’t want a happy memory to be tainted because you didn’t want to spend a little extra money.
What are the drawbacks of hiring a conveyancing solicitor?
Truthfully speaking, we don’t have many drawbacks to provide you with when it comes to hiring one. The only drawback that we believe there is for hiring a conveyancing solicitor is that it is expensive.
There’s no denying that legal assistance might cost an arm and a leg and, for some people, it can feel like something they can’t afford. But the reality is, hiring a conveyancing solicitor is a good expense and one you don’t particularly want to avoid doing, otherwise it could create an abundance of problems.
Sometimes you have to spend a little money to get better results and, in this situation, it definitely applies.
Hiring a conveyancing solicitor is important
What we can conclude from this article is that there really aren’t many drawbacks when it comes down to making the decision to hire a conveyancing solicitor or not. Even where there is a drawback, it’s for a good reason; the cost outweighs the mistakes and further expenses that can occur if not carried out properly.
Are you buying or selling a property? Will you be using a conveyancing solicitor or doing DIY conveyancing? Let us know in the comment box below.