When it comes to conveyancing in Melbourne, you’re generally much better off hiring an experienced conveyancer to handle the title transfer of your property as well as the negotiating of any legally binding contracts. However, there are some rare and select cases where it may make more sense for you to handle your own conveyancing. This article will go over when you should consider doing your own conveyancing as well as the pros and cons of doing so.
When You Should Do Conveyancing Yourself
Typically, it is not advisable to do your own conveyancing in Melbourne for a property you’re selling. This is because there are many complex legal aspects involved in the sale of a property. However, in states such as Victoria and Queensland, there are DIY conveyancing kits available for vendors to handle the conveyancing of the property they’re selling.
If you’re someone with a legal or property background and have the time as well as the interest to learn about the conveyancing process in depth, then doing your own conveyancing may be appropriate. Another instance where it may be advisable to handle your own conveyancing is if you want to have the maximum amount of control over the sale of your property with as little third-party involvement as possible.
The Pros & Cons of DIY Conveyancing
While there can be benefits to doing your own conveyancing in Melbourne, the cons often outweigh the advantages. You’ll need to be precise and confident in your dealings, as mistakes in these contracts can be costly. Here are some pros and cons of doing your own conveyancing:
Easily the biggest benefit of doing your own conveyancing is that it can save you a significant amount of money. While you will still need to pay for things like searches and land registry fees, you will not have to pay for the services of a conveyancer, which can be costly depending on the value of the property and the complexity of the transaction.
Be In Control
When you do your own conveyancing, you will essentially be in control of the entire process. This means that you can do things at your own pace and in your own time, rather than having to work around the schedule of a conveyancer and add more third-parties to the transaction that you may not need.
The process of conveyancing in Melbourne can be quite time-consuming, especially if you’re learning about the process for the first time or don’t already possess a legal or conveyancing background. If you’re not prepared to dedicate the necessary time to it, then DIY conveyancing may not be the best option for you.
Another big con of doing your own conveyancing is that it can be quite stressful. The process can be confusing if you’re doing it for the first time, and there’s a lot of complex paperwork involved. If you’re not confident in your ability to handle all of the tasks associated with conveyancing, then it might be best to leave it to a professional.
One final con to consider is that doing your own conveyancing can be quite risky. If you make a mistake, it could end up being costly in time and money as well as increasing the probability that the sale will fall through. This is why it’s important to make sure that you’re fully prepared before taking on the conveyancing process yourself.