A common question our friendly and hardworking team often get asked by prospective clients is whether they can do their own conveyance.
Conveyancing is the legal process of changing the ownership of a property by way of a transfer between one party to another.
If you are thinking to yourself “this seems like a pretty easy process, why can’t I do this myself?” then read ahead to discover that even whilst it might sound tempting, engaging a reputable and experienced team (such as RHC) is your best bet.
Conveyancing is a very complicated process, and there are numerous checks and searches that need to be conducted on the property that could have a bearing on your responsibilities as the new owner or put you at considerable expense later on.
By engaging an experienced conveyancing professional, they will take charge of endless administrative, financial, and legal duties to ensure you have no nasty surprises during your matter. If you miss the smallest piece of information, then it can have a large impact on your conveyance, and could result in limitations on the property, hidden issues with the land, or even tens of thousands of dollars to repair, rectify or pull down structures.
Despite the above, it is legal to do your own conveyancing, and, depending on which State or Territory you are in, there may even be DIY conveyancing kits that give you the basic information on how to conduct your conveyance. In addition, you need to be able to understand the complexities of the laws (including case law) and regulations that can affect your transaction.
Anyone who is comfortable navigating the world of legal documents and legal terminology, has sufficient time, and are on a tight budget, could theoretically complete their own transaction. It is not fraught without danger, however, and the risks are great and increased.
If you have never been involved with the conveyancing process before, understanding all of the details can be time-consuming and often leads to misjudgment or error. Our returning clients continually remind us of how different each transaction is, and how the laws and requirements have changed over time.
Buying or selling property is something many of us will only do a handful of times during our lives, and is often the most expensive transaction we undertake.
It is a formidable task for a beginner which requires plenty of time and patience to complete accurately and properly, and this is notwithstanding the need to ensure taxes and duties are paid, and government agencies are properly notified.
Ultimately, it is important to seriously consider the need to engage a solicitor who can protect you and give you the right advice, whilst ensuring everything remains compliant.
At RHC, we pride ourselves on our decades of industry experience and proven digital processes, all to ensure your transaction is as smooth and seamless as possible.
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Disclaimer: This publication is not intended to be comprehensive, nor does it constitute legal advice. We are unable to ensure the information is current and there is no guarantee in relation to accuracy. You should seek legal or other professional advice before acting or relying on any of the content of this publication. The views and/or opinions expressed in this publication is that of the author and may not necessarily represent the views and/or opinions of RHCS Solicitors.
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