Why you want proper guidance when buying or selling a property …
If you are like most people who are buying or selling a property you want to make sure your property transaction goes smoothly. You want to avoid unnecessary delays, costs and stress.
To protect yourself from problems you will want proper guidance throughout the process, but who do you hire – a solicitor or a conveyancer?
What is the difference between a solicitor and a licensed conveyancer?
The first thing you need to do before you decide is to know what they can or can’t do.
How solicitors can help in property transactions
- They have a broader knowledge of the law in general.
- They may have specific knowledge of a specialised field of law.
- They can practice in many areas of the law so they can assist you in any other issues that might relate to conveyancing.
- Conveyancing is an option for solicitors when they study six months of real property law during their law studies.
- Solicitors often have an hourly fee as compared to a licensed conveyancer’s fixed fee.
How licensed conveyancers can help in property transactions
- They specialise in ‘real property’ related law known as conveyancing.
- They are not lawyers but have studied at a tertiary level on ‘real property’ law.
- They have two years supervised practical experience in conveyancing before they can apply for a license.
- Compared to solicitors they have a fixed fee which is often a cheaper option.
So how do you choose between a lawyer and a conveyancer for your property transaction?
There are advantages and disadvantages of hiring either a solicitor or a licensed conveyancer:
- If there are any disagreements in the property transaction or any issues like tax implications, a solicitor can advise you because they are knowledgeable in other areas of the law.
- A licensed conveyancer is best suited if you are on a budget and the property involved in the transaction is not of high value or if you see the deal as straightforward.
Whether you choose a solicitor or a licensed conveyancer, the important thing is to hire someone competent.
Choosing the right person can make a big difference in your property buying or selling experience. A recommendation from a trusted source is a good place to start.