Do you save money by self acting?

If you are not a builder or electrician, would you do your own renovations? Possibly not.

A good Conveyancer will make the work look easy and some clients think they overpaid for a seamlessly effortless job.  What most clients don’t see or understand is the knowledge, Practice Management Systems and constant development each law firm does behind the scenes to ensure an effortless process.  There are a number of people who are prepared to do their own conveyancing and there is no law to say they can’t.  What would happen if, a person doing their own conveyancing, misunderstands a document, a clause in the contract or a search result, this misunderstanding could end in expensive and unnecessary litigation and loss. The only person accountable for this misunderstanding would be you.

Another issue to consider is, if a person decides to do their own conveyancing, a dispute occurs (whether it be over contract terms, conditions or references to the Property Law Act) and this person is out of their depth, this person would need to then seek immediate assistance from a Solicitor which will incur additional costs.  All Contracts in Queensland contain important contractual and statutory time limits and if these time limits are not adhered to, the person’s rights may be lost if not exercised within the Contract time limits.

Conveyancing is a process of transferring land from one person/s to another.  In most cases, the parties involved are a Real Estate Agent, the Seller, the Buyer and relevant Solicitors/Conveyancers for Seller/Buyer.  If the buyer is needing finance from a bank to complete the contract or the Seller has an existing mortgage that needs to be paid out at settlement, lenders for both parties may also be involved.

Below is a snapshot of what is involved in the Conveyancing process: