Can You Do The Conveyancing Yourself?
If you want to purchase property, then you’ll need a conveyancer. Or do you? Many people say that conveyancing is an unnecessary expense and that you could do it yourself, saving yourself thousands of pounds in the process. But is this really true?
What a lot of people forget when it comes to conveyancing is that the conveyancer is simply handling money to give to other parties. Stamp duty, especially, can come to a huge amount. Of course, it depends on the conveyancing firm, but their fees are generally a small amount in comparison to what you have to pay out to other parties.
If you did the conveyancing yourself, you’d still have to pay out these fees- you’d only save what the conveyancer might charge.
There are three aspects to this point. Firstly, do you have the time to devote to the job? Secondly, do you know how to do it properly? Thirdly, how quickly can you do it?
Do you have the time? Conveyancing needs your undivided attention. This is fine if you aren’t concentrating on your own job as well as your own life as well. It is possible, and you will be able to respond promptly, perhaps making speedier progress than a conveyancer might, but as conveyancing is a chain of different transaction, the whole process will only be as quick as the weakest link.
Learning a whole new skill from scratch on the job can be a breeding ground for mistakes, especially if there is no one there to correct your mistakes as you make them.
This third question links both of the above answers; conveyancing is at its best when done well, but also efficiently. You may be in danger of being gazumped if you take too long in the conveyancing process.
When Things Go Wrong
If you get it wrong, then you could get sued. This is why licensed conveyancers have effective indemnity insurance- if their negligence causes a loss to the other party, then they can be sued and the insurance company pays out if they can’t.
If you have a firm grasp of the process already, and are confident in doing it yourself, you could consider doing it yourself. However, it comes highly recommended that you employ a qualified, licensed conveyancer to do the work for you, saving yourself time and stress. Find the right conveyancer for you at www.compareconveyancingquotes.co.uk.