News & Legal Updates
Sign up to news & legal updates
'Do It Yourself' Conveyancing has become increasingly popular in recent years, with people across the country choosing to save a few pennies by handling their property transaction without independent legal assistance. So are there any reasons why should you bother to instruct a conveyancing solicitor? Is DIY conveyancing really a good idea? Or is it money saving exercise fraught with danger?
In this article we take a look at these questions, helping you to decide whether or not you would like to instruct a conveyancing solicitor to assist with your sale or purchase.
Why instruct a conveyancing solicitor?
There are many advantages to instructing a conveyancing solicitor. We take a look at three of the most important reasons:-
1. Ease and convenience
The conveyancing process can be a long and complicated one, often characterised by reams of paperwork, on-going negotiations and intricate legal technicalities. Understanding the procedure alone can be difficult, let alone setting aside the time to actually handle the transaction from start to finish.
That is why it is best to instruct an experienced professional to do it for you. A conveyancing solicitor will undertake everything on your behalf: from preparing a home report to paying off your outstanding loan, a legal expert is there is to handle each and every stage, guiding you through the process and providing legal advice should you need it. Many solicitors also provide an estate agency service, making them a one-stop shop for all your needs.
2. Peace of mind
Tackling a property transaction of your own accord undoubtedly comes with a significant degree of stress. Not only is it complex and time-consuming, there is also a great deal of responsibility involved. Indeed, for many people their house is their biggest asset. There is a large amount of money at stake, and you do not want to make a mistake when either selling or purchasing such an asset.
However, if you are not familiar with the legal aspects and loopholes of conveyancing, making an error is a very real possibility. This could lead to endless complications; you may sign a contract that is not favourable, end up with less property that you thought or even jeopardise the transaction completely. With a solicitor on your side, you need not worry about any of these potential problems. A legal expert will be able to identify any pitfalls, ensuring your best interests are maintained at all times.
3. Financial protection
Lastly, you may believe that DIY conveyancing saves you money, as you will not have to pay any solicitors fees. Nevertheless, this is only true if your transaction runs without difficulty. If you make a mistake, you will be personally liable, something which could put you in dire financial straits. You may have to pay the other side compensation, you may lose your deposit or you may initiate an abortive transaction. You therefore have a lot to lose.
By instructing a solicitor, you are handing over such responsibility and thus limiting your liability. So while DIY conveyancing may save a few a pennies in the short-term, it could prove extremely costly in the long-run.
Looking for a conveyancing solicitor in Dundee or Edinburgh?
If you would like to sell or purchase a property in Scotland, Blackadders can help. For more information about the comprehensive service we offer, contact us today on 01382 229 222 (Dundee) or 0131 222 8000 (Edinburgh) and speak to one of our residential property solicitors. Alternatively fill in the online enquiry to the right.
The opinions expressed in this site are of the author(s) only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this site is accurate and up to date. The site is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Site visitors should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this site. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.
Blackadders owns the copyright in this blog and all material contained on it. The material on this site may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.
Information passed to us via this site is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2011
Members of the Law Society of Scotland.
Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.Back to News & Legal Updates