By way of disclosure, I am the GM of ThinkConveyancing.com.au | Hands down the best value conveyancer across Australia, but I am aIso a lawyer and consumer advocate and it is in that capacity that I examine this issue. So lets jump in. But before we do, I note, of the 4 callers who had previously gone through the DIY conveyancing process previously, all were convinced of the value and importance of retaining the services of a Conveyancer or Conveyancing Lawyer.
Practically, conveyancing is time consuming. That’s it. Conveyancing takes significant time both in attending to inquiries from the other side, but more particularly attending to the incoming and outgoing banks. Its not that its not doable, it’s that when working on a ticking time schedule, actions need to be timely and effective or it can derail settlement resulting in penalty interest being incurred or worse still Costs.
Second of all, you don’t know what you don’t know. I often hear clients say to the team, I read it and it looks ok to me. Unfortunately, when I hear it as a lawyer, ALARM BELLS ring in my head. Why? Because we are all a victim of our own knowledge. I have heard and seen too much of what CAN go wrong. A good advocate should immediately reply, “But do you know what is missing?” This is the benefit of experience, to know what has been excluded can be as equally problematic.
Thirdly, as referred to in my earlier article MEET LUKE Conveyancers are part technician, part coach, part counsellor. Buying and Selling is stressful. Very stressful. In fact one of the top 10 most stressful things to go on in your life. Some research suggesting even more so than getting a divorce. A good conveyancer should attempt to bring rigour and process to what can otherwise feel like a wild ride, through anticipating what comes next. Unfortunately, they can’t take the stress out of it, but they can help to manage it. If your too close to the subject matter, then that may affect your judgment and delivery of what is needed to be done.
Finally and most obviously, the simplest answer as to why to retain a professional to do conveyancing work…..drum roll…… Insurance. Professional Indemnity insurance. Buying or selling any property, be it a home or investment, residential or commercial – is big business. Big dollar business. And its fair to say even for the most avid of investors it is an infrequent transaction. Lawyers are required to hold professional indemnity insurance at all times, meaning, you can rely heavily on the advice that is given to you. This advice, must – in accordance with their professional standards put your interests first. Should they make a mistake you are protected. This peace of mind, if only for the purposes of recourse in the event of an error cannot be underestimated. Do you drive your car uninsured? Then why would you spend ten times the amount and not takes steps to insure the workmanship? In these terms, the decision is easy.
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