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Do-It-Yourself Conveyancing: Pros and Cons

Many of us have thought at least once to save some money by doing our conveyancing all by ourselves. Doing your own conveyancing may save you some money but does it really worthy of the struggle and hassle? If you are confused and thinking whether to conveyance all by yourself or to hire a solicitor the n this article is just for you.

When you personally handle your conveyancing process then only you are responsible for the mistakes and pitfalls. If you hire any solicitor for selling your property then they will be responsible for their own mistakes and they have a financial backup from the negligence insurance for their support. Now you can’t get those for your tough situations like licensed conveyancers.

Obviously DIY conveyancing can be done. It is not tough under right circumstances. You may face some difficulties but you will get some advantages too. Advantages of doing your own conveyancing mainly are; saving money, getting done in cheapest cost, doing it perfectly, personally monitoring the buyer parties if you have trust issues on solicitors. Well, DIY conveyancing can be considered riskiest in a sense if the property you are buying is leasehold. It is a labor intensive work. You are required to work for it at least 30 hours a week which consumes a lot of energy to have a successful conveyance. And finally it can be least rewarding from the financial point of view. You may save £300 to £500 but the workload through the whole process exceeds the save. Few years ago conveyancing was mostly done by the buyer or seller of the properties. But now-a-day internet has taken the place of a helping hand and easing the process for both. Most of them offer cheap but quality services and reduces your tension and workloads. Moreover if you do your conveyancing you will save VAT, but you still have to pay the disbursements and stamp fees. So if you really want to take the risks and pressures you may do your own conveyancing, but the online agencies will serve you better than you have saved doing it all alone.

DIY can be really a bad idea when the property you are dealing with is full of complicacies. Severe complexity arises when the selling or buying party is conveyancing and divorcing at the same time. You will face endless difficulty to get your work done because of the uncertain ownership title. If your property is not registered in the land registry then you may face problems to sell it. Generally buyers are less interested to buy unregistered properties. Complications increase if the property is not simply a house or apartment. Registered houses or apartments are much easier to conveyance by your own; otherwise legal complicacies will disappoint you for your DIY conveyancing. In some freehold property cases complications increase too. When you are selling your property in auction then you are highly recommended to avoid do-it-yourself conveyancing. Even if you are selling a part of your property you should avoid DIY process.

Legal complications arises most of the time when you are conveyancing your own property. Buyer’s solicitors may take advantage of your lack of experience and you may end up gaining far less than an experienced solicitor would do. Gaining from DIY conveyancing is a luck favoring game. If the circumstances are right for you and your property is legally well defined, only then you can gain few hundreds of money by DIY process. If not, then hiring an experienced and obviously licensed solicitor will be a better choice to sell your property.

Posted by on 04/08/2015 in DIY Conveyancing

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