The dangers of DIY conveyancing
There are many reasons why someone may avoid engaging conveyancing services when buying, selling, sub-dividing or making a change to a property. You may be confident in your legal vocabulary, feel like avoiding the cost of conveyancing services or simply not be fully aware of the complexity of executing a successful property transaction.
Although we commend those who succeed in DIY conveyancing, we more often than not meet clients who have tripped over a snag in their property paperwork. In South Australia, the services of a conveyancer or solicitor are not required. If you are reading this you may have already decided to prepare and execute your next property transaction. That is your choice and we wish you the best, however, we do encourage you to consider the following dangers of DIY conveyancing before stepping out into the unknown:
Consider your research resources:
A conveyancer is first engaged to research, understand and relate local property information, legislation and property-specific complexities. There are many reasons why the DIY process can be slow, limiting and inefficient. Lack of prior experience in specific council areas like restricted access to property and council data and the time it takes to become familiar with up-to-date local property legislature. A conveyancer will be able to access restricted property data and understand your individual property scenario quickly and effectively.
Take full advantage of your rights:
Beyond being taken advantage of in a negotiation setting with property agents, you may find yourself at a potentially disappointing stand-still when faced with previously unforeseen legislature or procedure. A conveyancer will be able to predict and avoid many of these potential challenges.
Manage your money:
If successful in your DIY dealing you may find your final hurdle is financial. Conveyancers are responsible for many of the more complex financial handling associated with property transactions such as discussing access to funds with your financial institution and submitting applications with Revenue SA for grants such as the first home owners grant. To discuss the potential dangers in your DIY conveyancing journey contact us today. We can arrange an obligation-free consultation and show you why we have been successfully serving our community for over 20 years.