The conveyancing process represents the final stages of owning a home. It is the most crucial step, and unfortunately, can be challenging to navigate as one misstep can be costly and set you back significantly.
While DIY conveyancing is permitted, mistakes can be easily made and vital paperwork overlooked by accident, which is why you are advised to consult with a professional.
New homeowners think that conveyancers and conveyancing solicitors in Portsmouth are the same. However, while both types of professional carry out similar duties (for the most part), there are differences you should be aware of when deciding who you employ.
What is a conveyancer?
A conveyancer is a specialist of real estate transfers who can guide you through the process. They are qualified to give you legal advice about the transfer, to prepare the necessary documents and paperwork, and they hold the responsibility of ensuring that everything regarding the sale runs smoothly.
While they might be experts of real estate, their knowledge of other areas of the law may be insufficient, which is why some prefer conveyancing lawyers.
What is a conveyancing solicitor?
A conveyancing solicitor is considered a general legal representative who has specialised in conveyancing. It is important to note here that all licensed conveyancers can adequately conduct conveyancing. However, not all solicitors are qualified unless they have undergone additional training.
Their responsibilities are similar to that of a conveyancer – they oversee the property transfer, draft contracts and collate information, etc. However, they do offer a more premium service because their familiarity with the law goes beyond real estate.
Which professional should you choose?
Who you hire for the job depends on your legal requirements and budget. If your property transaction is relatively straightforward and your budget is tight, you can opt for a conveyancer.
However, if your property transaction is complicated and poses more risks, you should consult with a solicitor.
Who charges more?
Who you decide to hire may depend on who offers cheaper services. However, think carefully about your legal needs and preferences before making a decision.
Do you have anxieties and questions about the property you are purchasing? Do you have questions relating to the lawyer that is beyond the scope of real estate? Do you like to be continuously updated on the progress of your transaction?
Lawyers tend to be more expensive because they have extensive knowledge about the law, which is at your disposal.
It is also important to note the degree of service you will receive from conveyancers and solicitors, respectively. You will probably receive more personal attention with solicitors. Therefore, if you require a professional for around the clock assistance, a solicitor may be a better fit for you.
But what exactly needs to be done, just paperwork?
The role of a conveyancer or solicitor is not solely limited to handling paperwork, which there is undoubtedly a lot of. However, he or she is also responsible for countless other tasks, namely drafting contracts, exchanging contracts with the seller’s solicitor, assisting with mortgage agreements, and conducting any business with the local authority.
If you are still considering taking on the duties yourself, do not underestimate the magnitude of the task.