Should I Hire a Solicitor or a Conveyancer?
There’s a lot to think about when buying or selling a property – whether it’s the family home or your latest investment. One of the biggest things to consider is what – if any – professional help you’re going to get. From inspectors to real estate agents and even interior designers, there are a range of services that won’t just reduce your stress, but will protect your rights.
Legal assistance is one of the most important things to consider. After all, the transfer of property isn’t just a large financial transaction, it’s a complex legal process. A solicitor or a conveyancer can review your contract of sale, research the title of the land and handle the final settlement, among other things. From pre-contract to post-sale, these services are essential, but the question is, should you hire a solicitor or a conveyancer?
What Services Do They Offer?
When talking about the core conveyancing services, both a conveyancer and a solicitor will offer the same assistance. They will both assist in the legal exchanging of property in a service that protects your rights, and informs you of your responsibility.
Key services they will provide for buyers include:
- Handling all legal documentation – including transfer documents and the contract of sale
- Researching the title of the property
- Calculating taxes
- Liaising with the bank, vendors, and agents on your behalf
- Overseeing the final settlement
For sellers, a conveyancing service will take care of all the legal documents, while also representing you and fielding questions from the buyer and critically, acting on your behalf at settlement.
Why Choose a Conveyancer?
As they both provide a similar core service, its more about how these parties provide their services that sets them apart. Let’s look at the advantages of a conveyancer first.
Price – generally speaking, a conveyancer will provide a cheaper service than a solicitor. This is, of course, a generalisation and cost isn’t everything, but it is important to count your costs when it comes to exchanging property.
Specialisation – conveyancers are specialist property law specialists, and they will generally only provide a conveyancing service. While this doesn’t guarantee their expertise, it does give them the advantage of not having to keep up to date on a broader spectrum of laws. Legislation does change, so whoever you choose it’s important to ensure that they’re up to date.
Advantages of a Solicitor
Broader Knowledge – when you turn to a solicitor, you can expect them to have a broader knowledge of the law. While the specialisation of a conveyancer is important, complications can occur in the conveyancing process that go beyond property law. This greater understanding may lead to a greater outcome for you.
Insurance – all solicitors must have professional indemnity insurance – this is an Australian standard that applies across all states. This means guaranteed protection for you if a mistake is made. Most conveyancers will also carry this insurance – as its part of their training – but there are conveyancers who don’t have insurance. Always ask your professional about insurance before signing on.
If you’re looking to buy or sell a property in Brisbane, you can trust Bartels Lawyers to handle your conveyance. We are property law specialists with a broad legal knowledge and we are fully insured. Contact us today to organise a free initial consultation.