The Dangers of Cheap Conveyancing

Conveyancing involves the legal transfer of a property title from one person to another. Like many legal matters, conveyancing can be complex and often involves a combination of different tasks. If you are buying, selling, or transferring a property title in Australia, it’s important to use the services of a professional conveyancer or property lawyer to handle the settlement and title transfer process.

Buying or selling a house involves a lot of risk. While property sales can be very rewarding, there are lots of chances to lose money and a number of legal loopholes to jump through. Working with a trusted and established conveyancer helps to minimise many of these risks. While cheap conveyancing services do exist, and you can perform some of these tasks yourself, working with a reputable law firm is highly recommended.

The inherent challenges of conveyancing

All legal work involved with the preparation and management of sales contracts, mortgages, and related documents is referred to as conveyancing. From the contract of sale and building inspection to the deposit payment and settlement, a conveyancer manages all aspects of the property sale. Along with the inherent risks of each property sale, and the scope of the work involved, the conveyancing process is also affected by state and local council laws. All of these factors combine to create a complex legal environment.

Problems with cheap conveyancing

When hiring a professional conveyancer, depending on your location, you can often choose between a licensed conveyancer or a conveyancing solicitor. While both entities have the skills, knowledge, and professional indemnity insurance to perform a good job, it’s important to stay away from poor-quality, low-cost conveyancing services. While many reputable firms offer fixed price services, ultra-low conveyancing fees are often too good to be true.

Due to the sheer number of tasks involved in the conveyancing process, it takes time and expertise to do a good job. A common conveyance usually takes four to six weeks and includes a number of services as standard. This may not be the case when it comes to cheap conveyancing, where individual tasks are often priced and charged separately. Property searches, document requests, and legal advice can all be added to your final bill, so be careful by working with a respected law firm.

Cheap conveyancing services may also lack the experience, expertise, or insurance to secure your financial and legal interests. When you’re dealing with something as significant as a property deal, it’s always best to ensure full protection. If you’re interested in buying or selling property in Gisborne or elsewhere in the Macedon Ranges, a specialist property lawyer can help with all aspects of conveyancing and property law.