It is important that you understand what your conveyancer can, and cannot do for you. It is also vital for you to explain very clearly your position and your requirements. You have to tell them what you want and need. Solicitors are encouraged to always use plain English, not complicated legal terms or jargon, so you understand exactly what is happening. You also need to tell your conveyancer of anything that may impact on the transaction. If you have severe financial problems, tight time limits, or any other specific concerns or special requirements, be sure you explain this at the very beginning. Otherwise, you might be in for a nasty surprise later down the road.
How much will it cost to hire a conveyancer?
Any real estate transaction is a complicated process with many costs involved. One of these will be the fees paid to your conveyancer. You should talk to your conveyancer about all the costs in your transaction including the conveyancing fees. Conveyancers have professional skills to complete your transaction effectively and efficiently; their fees reflect their professionalism and the complexity of your transaction. Whatever the fee, remember you are buying peace of mind. No two transactions are the same. Sometimes a transaction requires additional work that was not foreseeable at the outset. A conveyancer is entitled to charge additional fees for additional work. If seeking a quote for fees, you should always ask ‘What is included in this fee?’ You should also ask your conveyancer to notify you if it becomes clear additional work is required. On average it should cost you around 850 pounds if there are no complications in the case.
Can I act as my own conveyancer?
Yes, DIY conveyancing is really a thing. It is not against the law to do your own conveyancing work. However, conveyancing work is highly technical and highly specialised. You should not attempt to do your own conveyancing unless you know exactly what to do and are certain you have the ability to do it before you enter into the transaction. You cannot expect any assistance from the conveyancer acting for other party. If you make an error, you may cause settlement to be delayed or even enable the other party to terminate the contract. This can cause you huge financial loss. If you are considering doing the conveyancing work yourself, look at the list of tasks to be undertaken by a conveyancer and tick off those that you are experienced in doing. Interestingly, very few real estate agents attempt to do their own conveyancing when buying or selling for themselves. It is better for you to hire a professional to take care of the legal aspects, even if it is only done for the peace of your mind.
Are conveyancers cheaper than solicitors?
Conveyancers and solicitors both provide specialist, professional advice and charge for their services accordingly. In most cases, the fees will reflect the complexity of the transaction; this is true whether you use a registered conveyancer or a solicitor. The real difference is that conveyancers are specialists who work only in this area whereas solicitors work in many areas of the law. However, solicitors are highly specialised and usually take on more complex cases so they cost more than the average conveyancer.
Can the buyer and seller use the same conveyancer?
No, as this will cause a conflict of interest. Conflicts can arise over all sorts of issues such as a delayed settlement or unfulfilled special condition. It is generally impossible to predict when this may happen. The savings from using the same conveyancer are small but the risks are potentially huge. Significant delays often occur if the conveyancer must cease to act in a transaction. Ask yourself if you’re really comfortable using the same person as the other party or if you would feel better working with your own conveyancer.