Should i do my own conveyancing

Click here to see specimens from the Law Society website. The conditions govern the whole conveyancing process. The Title Register will show the financial charges held by the current mortgage lender s.

It will be your job to clear these secured debts against the property. It will also highlight restrictions, covenants conditions related to the land , easements rights of way and other interests see a sample here.

The Title Plan will show the demarcated borders of the building and plot of land for you to check through. These are made to the local council and other public bodies to make sure that there are no issues to be worried about. Note that any issues related to the survey should be dealt with through the estate agent or direct with the seller not the conveyancer. If, as a buyer, you decide to transfer this money directly to the seller, be sure to have a separate contract in place which will protect the funds should things go sour between exchange and completion.

This solicitor will then represent both the lender and the buyer. If you inform the lender that you will not be using a conveyancer, they will then instruct one of their own but at your expense. You would still be paying the legal fees, gaining no advantage.

This is because the mortgage lender will not issue the discharge document until after the redemption funds have been received. A conveyancer or conveyancing solicitor will have the experience and knowledge to ensure a smooth and efficient process. Even though DIY conveyancing could save you money and give you a stronger sense of control, there are a variety of potential risks to consider.

Below is a list of some of the risks of DIY conveyancing:. Conveyancing on your own house purchase. Still want to have a go? Read on 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: Make sure that the sellers' agents pass your contact details on to the conveyancing solicitor acting for the sellers.

The sellers' solicitor should send you a draft contract for approval, together with a copy of his clients' registered title and property plan. They may also send a property information form completed by the sellers, together with a list of fixtures, fittings and other items being included in the sale.

Some law firms are reluctant to deal with buyers acting for themselves. However, there is no reason for them not to; you can refer them to the Law Society's advice on this issue. They are not there to give you any advice, but on the other hand, they should not take unfair advantage of your lack of legal knowledge.

You will need to check the details of the contract to make sure that it is satisfactory and does not include any unreasonable conditions. Residential property contracts usually incorporate the Law Society's Standard Conditions of Sale, but these are not always set out in full. You will need to read these through as they regulate the legal obligations of the buyer and seller. Also check the land registry title - such titles can be very simple or cover several pages.

Obviously you will need to check that the title is for the correct property and that the plan shows the property you are expecting to purchase. You will also need to check whether the people named as the registered proprietors are the same as the sellers named in the contract - if not, you would have to find out why.

If there is anything on the title or in the contract that you don't understand, you will need to consult appropriate legal textbooks.

Don't expect the sellers' solicitor or the land registry to help you. You might find something suitable in your local library if it's still open! The same can also apply to some websites. Having checked the information you have received, you will probably have some further questions, either about the property itself or the contents of the documents.

If you have already received information forms completed by the sellers, any further questions can be raised in a letter or email. If you haven't had these forms, you could ask the sellers' lawyer to complete the standard forms; otherwise you would have to try and obtain copies to send to them. You can see the standard forms usually TA6 and TA10 on the Law Society's website , but you can't print or download them. This is why most sellers also use a real estate agent to help sell their home.

Compare your options using the impartial comparison tools available at LocalAgentFinder , to find the best fit for your needs. Working with your real estate agent, you will market and sell your home until you have signed a Contract of Sale.

However, this is a small amount of money to save compared to the value of the property. Whether you are buying and selling, you will have a number of tasks to take care of, from sorting out your finances to hiring removalists. In many cases, people who decide to conduct conveyancing on their own find that they run into unexpected problems along the way.

They must then contact a conveyancer or solicitor , after already paying for a DIY kit. This can cost more money in the long run. This is particularly true if you are going to be buying or selling property in a different state or territory from your current residence, because the laws will be different.

The money is well worth the savings in time and stress, allowing you to move into your new home without worry.