By Frances Traynor
11th December 2017
Sun 05 Nov 2017 by Tony Lilleystone
Here’s a little secret - anyone can do their own Conveyancing.
Yes, DIY Conveyancing is possible and you do not have to have a Solicitor, despite what some people tell you.
Here’s a very brief guide to what you would have to do if you want to have a go – but before going any further, you might just like to consider the potential cost savings. Bear in mind that the only money you save will be the Solicitor’s own costs and the VAT on them.
You will still have to pay for any searches you want (more on that below) as well as the stamp duty if you are buying a home for more than £125,000.
You will also have to pay a fee to the land registry for the property’s title to be transferred into your name. And of course you should still consider having a professional building survey done.
If you are buying with a mortgage then your lender will appoint their own conveyancing solicitor to act for them. This is to ensure that their mortgage is properly registered against your title after completion. Of course the lender will expect you to pay their Solicitor’s costs, so you will still end up paying some legal fees – so you might find that you save little or nothing at the end of the day.
Another thing to bear in mind is that if anything goes wrong on the legal side, you won’t have anyone else to blame. If you have a Solicitor, they will have professional indemnity insurance against errors on their part.
Sounding a little too much at this stage? You may be surprised at the low cost for a conveyancing solicitor. Why not get a quick quote today? You can view your quote instantly, online.
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There is no obligation, and you will see your quote online rather than having to wait for an email or call. We offer a ‘no completion, no fee’ guarantee should you instruct through Homeward Legal.
If you still want to give it a go, this is an outline of the work involved in buying a property.
This assumes that (a) you are a cash buyer, and do not need a mortgage and (b) you are buying a freehold property with a registered title:
Does this sound a bit much? Get a quote for purchase conveyancing here - and take the stress out of the legal process of buying a property.
At this point you will be ready to exchange contracts. This is when the contract becomes binding, and you will be committed to complete the purchase. Solicitors exchange contracts on the phone, in accordance with a protocol laid down by the Law Society.
It is unlikely that you will be allowed to do this, as the protocol requires undertakings to be given by legal professionals. So you might have to go to the sellers’ Solicitors’ office to do the exchange in person. Alternatively you could send them your copy of the contract and cheque for the deposit, and ask them to hold these to your order until you agree an exchange with them over the phone.
Well the answer is still 'yes', you can do your own Conveyancing.
This outline is only intended to give a brief guide to the steps involved in an ordinary house purchase, there may be much more involved in complex cases or leasehold properties. You would be advised to learn something of basic land law and contract law to have a better understanding of what is involved.
If you are buying jointly with someone else there are other issues in connection with joint ownership that you would need to consider.
The land registry has published some useful general guides for the public, as well as much more detailed practice guides aimed at legal professionals. All these can be accessed from their web-site, and all the registry forms can be freely downloaded.
Before you decide to give it a go, why not try us for a quote for Conveyancing costs. You may be pleasantly surprised at how little it costs to get the services of a fully qualified Solicitor, who will save you the hassle of handling all the legal work.
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