A recent Michael Yardney Property Update newsletter, tackled the question, which profession should I choose for my conveyancing, a property solicitor or a conveyancer?
In What’s The Difference Between A Property Solicitor And A Conveyancer, writer Mira Stammers, suggests the decision rests upon how complex your conveyancing needs are and she argues your decision should be based on a balance between the risk of the conveyance and your budget.
However, before we tease those points apart, there are three common questions we get asked all the time, and they have a bearing on this whole topic: What is conveyancing, what does a conveyancer do, and what do they charge for?
A quick primer on conveyancing. If you’re buying or selling property, listen up
Granted, conveyancing is not the most exciting weekend BBQ conversation topic, and will no doubt encourage a few yawns around the dinner table, however, it is something you will pay more attention to when you actually require it.
Conveyancing is an extremely important and integral component to the buying and selling process; the transfer of title cannot be done without it and it cannot be done well without professionals.
Vendors and purchasers invest hours of time and research into finding their dream home but often neglect and fall short at the finish line, which is ensuring the legalities or ‘loose ends’ are tied up. It really is like making the grand final of your chosen sport, only to be satisfied with ‘making it’ and not achieving the final objective of winning & getting it across the line.
In conveyancing, like any service-related field, you get what you pay for, and the age old adage of ‘you think it’s expensive hiring a professional? Wait until you hire an amateur’ could not be more accurate.
So, what’s the difference between a conveyancer and a property solicitor?
Conveyancers are highly trained professionals who specialise in property law, by ensuring documentation for the conveyance of a property is done correctly.
The fees a conveyancer will charge are generally in line with the service(s) they offer and the complexity of your transaction.
If vendors and purchasers knew the ramifications of poor conveyancing and the impact it can have on their end goal (and hip pockets), I can guarantee you, there would be no “haggling” over differences of $50-$100 in quotes from different firms.
Only recently in South Australia, a vendor lost a $90,000 damages claim because their Form 1 was considered defective by the court, and Form 1s are an integral part of the property sale process.
The argument in favour of property solicitors, according to Mira Stammers, is that beyond property law, they also have an understanding of broader legal areas and can be sensitive to how your conveyance might impact divorce proceedings or carry tax implications.
Why Eckerman Conveyancers can deliver the best of both worlds
The reason the Eckermann Group expanded to include Eckermann Lawyers and Eckermann Forms, was to “round out” the breadth and depth of the service we can offer you as conveyancers.
While it is true that some conveyancers can be “out of their depth” when handling complex transactions, the size and experience of our team, and our direct, internal links with solicitors and Form 1 processing professionals, means you will have covered all your bases by choosing South Australia’s largest conveyancing firm.
I hope this article has shed more light on the decision-making process for choosing your conveyancing professional.
If you’d like more detail about what conveyancers do for you, this earlier article provides a good summary, Real Estate Exposed: What your conveyancer does for you at settlement.