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I am thinking about doing my own conveyancing for property sales and would appreciate any thoughts or experience on this.
Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing SuccessLearn more at http://www.completepropertysuccess.co.uk
I also post property updates on my Facebook Page
"It is the small decisions you and I make every day that shape our destiny" Anthony Robbins
I wouldn’t recommend it and I suspect (know) that the other side’s solicitor will not be happy dealing with you. Are you doing it to save money?
http://www.360Property.co (No UK)
It's not about the money but thanks for your thoughts Welsh Landlord.
It's just frustration with solicitors and the thought "How hard can it be?!"
I wouldn't recommend you doing it. A property transaction has too many moving parts and needs specialist knowledge to ensure you have all searches, caveats, contracts, and information correct."Cheap is often expensive in property" - Paul ShamplinaWe used a family member once, who worked at a law firm. She was a legal assistant, not an actual lawyer. She missed that the lease was defective and we ended up with a near worthless property!! It caused a huge family rift for many years, especially as she vehemently denied that she had done anything wrong! When we came to try and sell the flat, every buyer's solicitor warned them off it because of the defective lease. Every sale fell through. The freeholder had never applied for planning permission and it was an illegal conversion. It was also found that the joists in the roof were too heavy and had pulled the roof down and damaged the structure of the entire building.Just a flavour of the kind of problems that could arise when you don't use professional services!
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Thanks for your thoughts and experience Vanessa,
I appreciate that it could be riskier for buying, but I'm looking at this for selling.
Again, it's not about the money!Angela
Be careful. I did a 3 year course but even so only sold a couple of straightforward properties & bought one myself as I am not a conveyancer getting day to day experience. Even with the certificates, I can only call myself a conveyancer if I work for a solicitor for 3 years & so chock up the experience, which I never did being a stay at home mum with a disabled child.
You will find that the buyers solicitor will insist on paying any proceeds to another solicitor particularly if there is a mortgage involved, so by the time you pay one to accept the funds (they will want to do some other checks themselves to make sure there is nothing dodgy going on) you might as well pay them to do the whole lot. Now I always pay someone else to do it - so much easier, although of course I double check everything & it did take me a while to find a conveyancer that I considered thorough enough - so many lazy ones out there I found.
Thanks for your post. That is a very good point - hmm, if the buyer's solicitor insists on sending funds only to a solicitor's account, then that is quite a problem!Interesting that you found it so difficult even after doing a three year course!Thanks,Angela
It's all to do with the licencing. If you want a licence, you have to get the experience signed off by a qualified, practicing solicitor or conveyancer - not to mention continuing CPD.
When I signed up for the course, I thought it was just for 6 months, not realising that it was for just one module - so a total of 3 years as they run as day release & evening classes for current conveyancing clerks. A very interesting course though.
That's interesting Ann thanks.
What was the course called or do you have a link to similar?
They are run by the CLC https://www.clc-uk.org/trainees/how-to-enrol/
I did mine at Guildford College but it looks like they dont do it any more.
Thanks Ann, very helpful. I will save the link.
I only had the idea yesterday and not all my ideas fly, but interesting to give it some thought.
I think I'll buy a couple of books on the subject initially and have a little read. Sometimes I find that's enough to blow off my enthusiasm!