There is a lot of scepticism when it comes to the role of conveyancing. This is because when everything goes well, (which it usually does), conveyancing looks like an overpriced piece of clerical work. The value of professional conveyancer is only seen when the preverbal wheels come off.
The role of conveyancing solicitors is nuanced by the legal complications and financial ramifications of handling such large transactions that come along with the sale of a property. The family home will be the most valuable asset most people have and the mortgage their largest financial commitment. If you are planning on selling or buying a property, it is important to be aware of the types of conveyancing options which are available.
A conveyancing solicitor
The fully bonded and licenced conveyancing solicitors in Portsmouth is a legal adviser who can advise their clients about buying and selling property. Their skills are often much wider than just conveyancing, which can be helpful if there are issues, but these extra skills increase their fees making them the most expensive option on average.
The services of a conveyance solicitor will often include other legal services like will writing, marriage implications on the estate especially when prenuptial agreements are involved. As legal professionals, their standards are maintained by the Solicitors Regulation Authority and the Law Society.
Licensed conveyancers
A licensed conveyancer is not a legal professional. In the same way as a solicitor, their legal expertise is very narrow and focused on property and its associated contract law. As such, they are not overseen by the Law Society but the Council for Licensed Conveyancers. The fees are notably less for the majority of cases, but this can cause issues if things go awry.
Self-conveyancing
Both solicitors and licenced conveyancers are given the authority by you to practice conveyancing on your behalf, but there’s no legal need to use either and you can carry out your own conveyancing as a layperson. This is the cheapest option but can backfire badly with the implications of an error, resulting in sales falling through or mortgages being rejected.
The roles and responsibilities of conveyancing?
The task required from your representative, whether they are a solicitor or a licensed conveyancer will differ, depending on if you are the seller, a buyer, or if you are part of a chain-you could be both!
The transfer of such a large sum of money along with agreements is the primary function of conveyancing. Performing local searches and communicating with the other party’s representative to agree on dates and keep the transactions moving towards completion is also required of them, alongside keeping you in the loop about how the sale or purchase is transpiring.
Solicitor or conveyancer?
For the sake of the conveyancing itself, both are fine choices. If you require more than just conveying, it would be wise to see a solicitor and agree on a price for all their services that you require at the same time to get the best value.
