Buying or selling a property is a stressful affair. That much is obvious. It's natural to want to look for ways to save cash, cut corners and get the thing done.
Pity the poor soul who learns about
conveyancing for the first time. Things seemed to be going so well – and now this?
Sorry, first-time buyers, but conveyancing is an indispensable part of house buying and selling.
It's an umbrella term for all those things that make up the transfer of ownership from buyer to seller. Huddling under this umbrella is a crowd of property searches.
Local authority searches. Land Registry searches. Environmental searches. Water authority searches. Even
chancel repair searches. (Are you liable for the costs of repairing a parish church thanks to some outstanding mediaeval admin? There's only one way to find out!)
All these searches need to be completed before the sale or purchase can go through. It's like a really convoluted version of buying a car – you want to know that everything works and that the fluffy dice can be removed. But with a property, it's going to cost you.
The whole process can be carried out by a property lawyer or a
licensed conveyancer. As well as overseeing these searches, they have to
Surely there's an easier way? Couldn't you just… do it yourself?
Going solo
In theory, yes, you can do your own conveyancing searches. You're not legally obliged to get a qualified lawyer or licensed conveyancer.
If the buyer and the seller know and trust each other, searches are sometimes not necessary – and if there's no deadline breathing down your neck, you might want to get stuck in yourself.
Similarly, it's not unheard of for practising and ex-solicitors, paralegals and legal execs to have a go – after all, they've got the skills and knowledge required.
However. There is a big "however". The process is long and complicated – and if you're buying with a mortgage, simply not allowed. Most lenders will insist that a solicitor or conveyancer oversees the process.
Nevertheless, DIY conveyancing has its advantages. You can potentially save money on legal fees and get the job done more quickly. After all, you only have one transaction to oversee, whereas a legal professional will be juggling jobs like their life depends on it.
There's also the satisfaction of rising to a challenge and, along the way, learning all about property law. It's never been easier to look up case and statute law online. And the Land Registry – though cautious about DIY conveyancing – has some free guides you can consult.
Even so, there are a lot of potential pitfalls.
Disadvantages of DIY conveyancing
1. You may not save as much as you like
You still have to cover the costs of local searches, registration with the Land Registry and stamp duty land tax (if the property is over the threshold). There's a very real risk that it will turn into a false economy.
2. An accredited lawyer or licensed conveyancer will know the ropes
The latter will have undergone two years' training, minimum. Unless you have some legal experience, you'll be playing catch-up and learning on the job. You might conclude that your time is better spent on packing.
3. You can kiss free time goodbye
If you do your own conveyancing, your desk will become a dumping ground for an avalanche of paperwork. You'll need a lot of free time to get it all done – and if you're in a chain, you'll be working to a deadline.
Bear in mind that contracts aren't light reading. With their Latin terms and Victorian tone, they make
Finnegans Wake
read like
Fifty Shades of Grey.
And legislation can change. You'll need to stay on top of the law – something that a professional will do as a matter of course.
4. You're not insured
Solicitors and conveyancers are covered by professional indemnity (negligence) insurance – you're not. If you make a mistake, you'll have to foot the bill – and if you accidentally provide inaccurate information about the property, you could be sued. This will all work out as far more expensive than simply going with a professional to begin with.
5. If you get into trouble, there's no helpline to call
A good solicitor or conveyancer, by contrast, will keep you in the loop at all times and offer expert guidance.
6. You might close some doors
Potentially, a solicitor won't want to work with someone who's doing the conveyancing themselves. This isn't a given – but it's worth checking.
7. You may end up using a conveyancer anyway…
…thereby defeating the purpose.
The bottom line is that buying or selling a property is one of the most important and complicated legal processes you'll ever be involved in.
While a solo mission isn't impossible, you need to think hard about the pros and cons. When in doubt, instruct a solicitor.
How else can you cut costs?
Conveyancing fees vary – but they usually fall somewhere between £850 and £1,500. This is a big motive for people wanting to do it themselves.
Rather than cutting corners, you can look for other ways of saving money. For instance, you can look for furniture and white goods bargains on sites like Facebook Marketplace. You can upcycle. And you can shop around for the best mortgage deal, removal firm, energy provider and so on.
Finding cost savings this way means you're not skimping on conveyancing. And in the process, you're giving yourself the best possible chance of a smooth and happy transaction.
At Milners, we offer fast, efficient, affordable legal advice. All our
conveyancing solicitors are accredited and experienced. We provide legal expertise you can afford. If you're buying or selling a property, please
get in touch for a free, no-obligation consultation.
Pontefract Office
9A High Street
Upton, Pontefract
West Yorkshire
WF9 1HR
Darlington Office
Close Thornton Solicitors
31 Houndgate
Darlington
DL1 5RH
Authorised and regulated by the Solicitors Regulation Authority – Milners, SRA # 52317 | VAT number: 170144301
All Rights Reserved | Milners Solicitors
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Harrogate Office
11A Princes Square
Harrogate
North Yorkshire
HG1 1ND
01423 530 103
Darlington Office
Close Thornton Solicitors
31 Houndgate
Darlington
DL1 5RH
01325 466461
Pontefract Office
9A High Street
Upton, Pontefract
West Yorkshire
WF9 1HR
01977 644 864
Authorised and regulated by the SRA, SRA ID 52317
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