DIY conveyancing can seem like a good way to save money, whether selling or purchasing a property. Many buyers and sellers assume that the savings are high enough to make it worth the risk. In other cases, they assume that there are little risks involved in doing their own conveyancing. In reality, the conveyancing process is never as simple as it seems.
There is a reason that conveyancers are good at what they do – they have spent a great deal of time gaining experience and expertise. Conveyancers are also fully versed in all aspects of property law in the UK, and they have an in-depth understanding of insurance, liability, and all other aspects involved in the transfer of property from one owner to another. Before you decide to try your hand at DIY conveyancing, it is essential to be fully aware of the risks you will be undertaking.
Before You Consider DIY Conveyancing…
In this guide, we shed some light on DIY conveyancing to give you an idea of why it’s best to leave conveyancing to the experts. Some of the biggest reasons to avoid the DIY approach include the following:
No access to negligence insurance.
Qualified solicitors have the benefit of negligence insurance, which protects you against being held liable in the event of any mistakes made during the conveyancing process. The lengthy, detailed process typically includes numerous steps, from conveyancing searches to draft contracts, property surveys, and other complex steps. If you overlook something important or fail to submit certain details or make any other type of mistake, you will be held liable for any costs incurred. This can end up costing you far more than you hope to save while adding a great deal of stress as well.
Limited understanding of property laws.
Unless you are a solicitor who specialises in conveyancing, you will likely have a layman’s understanding of property laws. This can lead to a great deal of confusing during the process. In addition to drafting and reviewing your own legal documents, you will also need to read through the seller’s contract, speak to mortgage lenders to be sure that all relevant has been provided, register the property with the Land Registry, and handle all legal fees. Transferring ownership titles from buyer to seller takes an in-depth understanding of laws at every stage of the process to ensure that there are no hurdles along the way.
A huge amount of time and effort.
Finally, as you may have figured out by this point, conveyancing is a complex procedure that takes a fair amount of time and effort. Conveyancing is a full-time job and one that requires plenty of expertise. An online conveyancer will have the benefit of a team, while also having the advantage of experience that makes each step go more smoothly and quickly. A layman with limited understanding of the process would find it far harder and more time-consuming.
Rather than taking the risk to try and save a few hundred pounds, it is far safer and simpler to get professional help. This will not only save you time, effort, and costs, in the long run, it will also give you complete peace of mind. For expert help you can always trust, contact Home Legal Direct today and let us show you why an online conveyancer is always a safer choice than DIY conveyancing.