With DIY conveyancing kits and forms readily available online it may seem tempting to care of your own conveyancing.
This year several Brisbane property owners and buyers have asked us about the pros and cons of DIY conveyancing. Fortunately we're seeing hundreds of people turning to DIY conveyancing but we are noticing a small rise in interest.
The problem seems to be that DIY conveyancing kits are becoming more prevalent online. So, if you're searching for Brisbane conveyancing lawyers or advice, you may be exposed to adverts or article about DIY conveyancing.
It's human nature that if we notice something for sale online we want to know more. Some of us may even assume that other people have bought DIY conveyancing kits and that they're a good way to save money.
Sadly that's not likely to be the case when you're talking about DIY conveyancing kits which put your most valuable possession on the line.
But before I get ahead of myself here's the lowdown on DIY conveyancing and if it's a viable option or a risky business.
When DIY conveyancing is a good option
Having spent years studying law, passing the bar and learning about conveyancing law by working in the business and now running my own conveyancing company my advice is biased. Of course I recommend you hire a specialised lawyer to help you with any form of legal advice!
But people are easily tempted by DIY kits because they want to save money. Unfortunately, there's a strong pereception that lawyers are expensive and that may be true in some cases.
But as with most professions you get what you pay for and professional legal conveyancing advice has a cost because it takes years to fully understand and do well.
So the only time when DIY conveyancing (or any form of DIY legal representation) is a good option is when you really cannot pay a laywer. Which is never the case in conveyancing because sellers can pay for conveyancing from the proceeds of their home sale and buyers can pay by making conveyancing costs part of the total cost of buying a home.
In other words, unless DIY conveyancing is your only option, it's not a good option at all.
10 Reasons DIY conveyancing is best avoided
1. Property is the most expensive purchase or sale you're ever likely to make. So it's not worth taking a risk when it comes to that kind of money.
2. There are so many if, buts and maybes in conveyancing that DIY conveyancing kits or forms can't cover. But if you use a DIY conveyancing kit you leave yourself exposed.
3. Because property is your greatest asset or investment, conveyancing causes stress. In fact, buying or selling property is likely to be one of the most stressful times of your life. So you're less likely to be able to think clearly about DIY conveyancing and more likely to make mistakes.
4. Unlike with DIY conveyancing, when you hire a specialist conveyancing lawyer they take the strain for you. Leaving you feeling more relaxed and confident that your conveyancing will proceed as planned.
5. Property law and conveyancing requirements change and get updated. But you don't know when a DIY conveyancing kit was created and if it's valid in today's market.
6. Property conveyancing and DIY conveyancing may seem easy when you've never done it. After all, it should only involve changing the name on the Certificate of Title from the seller to the buyer following a real estate purchase. But conveyancing involves a lot more than just filling in forms and filing paperwork. If you think lawyers charge a lot for conveyancing that's because it involves a lot of work, time, know how and attention to detail.
7. If you miss or forget something important when doing your own DIY conveyancing then you could end up buying a lemon or watching your property sale fall through. Both of which are likely to cost you many tens of thousands of dollars making the cost of professional conveyancing look like a great deal.
8. In conveyancing keeping records of all transactions is vital. Conveyancing lawyers are used to the organisation this takes but inexperienced DIY conveyancing laypeople can find it impossible, a time sink and a major cause of stress.
9. Timing is everything for a smooth conveyancing process. Conveyancing lawyers are used to juggling deadlines and dealing with banks, mortgage brokers, property inspectors, real estate agents and everyone involved. If you opt for DIY conveyancing you may find the people management skills and timing a challenge.
10. Buying or selling property is a time when you absolutely need sound advice from someone you can trust. If you opt for DIY conveyancing you'll be going it alone with no safety net and no one to catch you when you fall.
Conveyancing doesn't cost as much as you think
Another reason to avoid DIY conveyancing is that professional conveyancing costs a lot less than you probably imagine. For the most part think hundreds, not thousands of dollars.
We think it's a small price to pay for peace of mind and a straightforward property transaction and our happy clients agree.
Got other concerns about DIY conveyancing or want to put your conveyancing in safe hands? Book a free consultation now.
To help you stress less about conveyancing in Brisbane, Queensland or anywhere in Australia we’re offering a free consultation to new clients.
Contact us now for informed conveyancing advice. One of our dedicated conveyancing lawyers will be happy to advise you.
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