Affordable Options on Conveyancing
Conveyancers or property lawyers are notorious for their high prices and many people believe that they cannot afford their services. As a result they do not think about buying or selling property and even when they do, they avoid hiring a ‘good’ conveyancer and sacrifice quality in order to save money. This in turn can lead to a number of problems and bad decisions. However, you should go ahead and realize that there many methods of cutting costs when it comes to conveyancing. Conveyancing is a service and like all other services, the quality of the service will depend on the price you pay. Bad conveyancing can put your transaction in danger and may even damage the sale of your property. As a result, you should be careful when making any decisions regarding money or your assets. This will save you stress and trouble in the long run. These tricks will help you save money and get the best service out there.
- Fixed price conveyancing: Not all traditional conveyancers charge unreasonable fees. If you want high quality service at an affordable rate, then it is worth looking into fixed price conveyancing. Instead of charging you by the hour or a percentage of the property value, they will offer you a fixed price in exchange for their service for their service. However, you should look at the fees and conditions very carefully before agreeing to their services. There can be several hidden fees and costs that you will be charged for after the deal is over. Some solicitors add extra disbursement charges for photocopying and postage, and bank charges to transfer the completion money. Remember to ask detailed questions about these fees because they do mount up. Some firms also offer a ‘no sale- no fee policy’, where you don’t have to pay the conveyancer’s fees if the sale falls through. You will only have to pay the firm what they already spent on the transaction such as search fees and other disbursements.
- Online conveyancing: This type of conveyancing is becoming increasing popular. This is mainly because online conveyancing is cheaper when compared to local conventional firms. You can save up to ?500 when using an online conveyancer. Moreover, there other benefits you can get from online conveyancing. For example, online conveyancers also work faster than traditional firms. Also, you can track the progress of your transaction online. The entire process is carried out via the internet and you need to fill forms online. Everything can be done much faster as there is no paper based communication. On the other it is important to remember that online conveyancing works best for simple and straightforward transactions. For more complex cases, it is best if you go to your local solicitor instead.
- DIY Conveyancing: DIY conveyancing is nothing impossible and you can actually buy or sell property by yourself. However, you have to familiarise yourself with the jargon and technical terms associated with conveyancing. You should also understand how to negotiate effectively with the other party. The process is lengthy and difficult. You will have to conduct all the surveys yourself and file all the paperwork and documents that are required. Furthermore, there are conveyancing kits and guidebooks available which will help make things simpler for you. You should realize that the only money you save this way are solicitors’ costs and VAT. You will also have to pay a fee to the land registry for the property’s title to be transferred into your name. Also, you will also have to get a professional conduct the surveys of the property. Moreover, you should remember that if anything goes wrong legally, there will be no safety net to protect you or your finances. On the other hand, with a professional conveyancer they will have professional indemnity insurance in case of any error they may make.