A professional conveyancer or solicitor is an independent party whose services are utilised for both the buying and selling of a property. The chosen conveyancer or solicitor will handle the settlement process and title transfer process during the time of this transaction from the time a Contract of Sale (COS) is signed. Both buyers and sellers need to employ and utilise the services of a professional in this field due to legal obligations in respect to the property being sold or purchased. It is a conveyancer or solicitors job to take charge and do all the leg work while working with you and the agent on your behalf. Your conveyancer will also keep in close touch with your mortgage broker and between the two professions will be able to keep each other up to date on the progress and the different stages.
The difference between a conveyancer and a solicitor
Conveyancers are legal professionals who are specialised property lawyers who deal with and assist with the necessary paperwork involved in the buying or selling process of a property such as transfer of a property from one party to another. They have the ability to lodge specific property documents, make relevant enquiries for such things as zoning and titles and preparing the settlement statement for the property and providing to the relevant information to the client.
Solicitors are legal professionals qualified to also deal with conveyancing matters and other legal matters with the ability to provide in addition to a conveyancer legal advice, take legal action and be able to deal with complex legal matters all in respect to property transactions.
When to choose a conveyancer or solicitor?
As soon as you have made the decision to buy or sell a property it is important to find a conveyancer or solicitor to talk with to see what will need to be done and at what stage of the process they will need to be notified. For instance if you have decided you are wanting to buy a property but still in the early stages if you shortlist some conveyancers and then organise whose services you are going to employ this will come in handy come time you get the transaction process underway. Depending on the state you live in and where the interested property is located will determine whether you will need to find a conveyancer or solicitor to handle the specific process.
How to make your selection?
A good way to start your selection process is to talk to family and friends to see if anyone has any referrals they are happy to pass on as this will give you a good picture about what type of experience you will be up for and what to expect. It is important to ask the referrers about some of the good points about the particular conveyancer or conveyancer firm. Generally families and friendship groups will utilise the services of a particular firm or in most cases a particular individual as they all found a great experience was had without any headaches.
As with most professions, not all conveyancers or solicitors are equal. Just as you may interview a shortlist of real estate agents to sell your house, it will only benefit you if you choose to go through the same process with conveyancers and solicitors to ensure the best experience is had.
Cost is to be considered
While cost is a factor to consider if you talk to someone who is charging double the amount for their service compared to what others are quoting, you will need to sit back and think why they are charging such a high amount. In many cases you will find as with most things in life that you do get what you pay for but it will pay off for you to ask conveyancers for a copy of their fees and charges sheet which will give you a rundown of how you will be charged. It’s not advisable to go for the cheapest or the most expensive conveyancer or solicitor however, it’s still important to compare conveyancing costs to help you refine your budget and end result. By talking to a number of different conveyancers and solicitors you will soon get a good idea of what is standard practise for the use of the services. These charges can vary and be dependent on the area where the property is located.
Some questions you may ask when meeting with a conveyancer or solicitor for the first time:
- What types of property do you mainly specialise in?
- How will you communicate with me throughout the process?
- What timeframe should we expect for this process from start to finish?
- Will I have to pay any fees at settlement and are there any hidden costs?
- What will this process cost me and what are your fees and charges?
Please don’t hesitate to click here to read more in our article about the importance of employing a conveyancer and their professional service to find out more about what service they provide and how they can help you. If you are wanting to look online for a registered conveyancer in Adelaide click here to check out the Australian Institute of Conveyancers (SA Division) Website.
It is important to employ the services of professionals from the desired fields to ensure the smoothest path is achieved for the desired process. If you need recommendations for a conveyancer or other professional or have a question regarding anything spoken about in this article please don’t hesitate to get in touch with Gerry today.