Taking the time to find the right conveyancing lawyer to handle all the legal aspects when buying a piece of land is crucial. If you don’t know what the legal process entails, you could end up paying fees to the wrong person and spending a lot of money while at it.
If you are buying a house for the first time, you might get confused by all the things you have to do including finding a lawyer. Someone might have told you to get a solicitor when in actual sense you needed a conveyancer. How do you tell the difference between the 2? Did you know that a solicitor charges a higher rate compared to a conveyancer? This is because they offer a full range of legal services compared to a conveyancer who specializes in property.
What is Conveyancing?
This is the transfer of ownership of property from one person to another. Depending on the location of the land, the sale will be dependent on the laws governing that location. The process involves an exchange of contracts which are signed by both parties to make them legally binding.
Before you start this process of buying, it is important to determine whether you will need a solicitor or a conveyancer. Your financial status and preference will influence this decision. If you have a real estate agent, they can help you find the right lawyer who will guide you on what to expect through the entire process.
Difference Between a Conveyancing Lawyer and Solicitor
These two types of lawyers are aware of what the law says in regards to property and other matters. If you a buying a piece of property for the first time, or you don’t have enough money to pay a lawyer, it is wise to settle on a conveyancer. If you want a high-valued property, and you can afford it, a solicitor would be the best bet in this scenario. The risk is higher when dealing with a high-value property, hence you will need someone who can represent you in court and knows different aspects of the law and not just property.
If there are any complications with the property you are buying, for instance, if it is an off-plan purchase, then you should pick a solicitor.
Factors to Consider
Whoever you settle on, below are important factors you should always keep in mind. Generally, they both handle contracts, provide legal advice, they are in charge of communicating with the land registry and completing the sale transaction of the property.
Like we mentioned above, a solicitor will charge higher legal fees compared to a conveyancing lawyer. Because of this, they will handle more clients and deal with more paperwork. You might not get all the attention you require or get personalized service from a conveyancing lawyer.
Knowledge of the Law
A solicitor knows more about the law than a conveyancer. They will provide services not related to property. Therefore, in as much as they are charging more, you will get more value from them. For example, they can help with family cases, tax issues, and property.
On the other hand, because a conveyancer deals with property only, he might be well versed with the industry which is a win for you.
A conveyancer will cost you less money because they only deal with real estate. They can help ensure that you close the sale, but they won’t help you if you have issues with your taxes.
The buying process is an exciting one but it can be stressful when you don’t have the right team or systems in place. When communicating with your conveyancing lawyer or solicitor;
Decide on the best time of communication
Find out who will assist you when they are away on sick off or vacation
Be aware of their location and how you will easily access them
To track the progress of your purchase, know which systems are in place
Security of Documents
No matter who you are dealing with, the security of your documents should be of utmost importance. Most solicitors work with sensitive information hence will keep a safe in their office to safely store documents. Most clients prefer leaving their documents with their lawyer to avoid losing them.
It is up to you to decide whether you want a conveyancing lawyer or a solicitor. Weigh your options well before settling on one person just because your peers used them before. If you don’t have enough money and want to work with a conveyancing lawyer, there is nothing wrong with that. So long as you explain your objectives and goals from the start to avoid disappointments later on.