It can be very confusing when two different professionals offer the same service. For this reason, it’s important to educate yourself on the differences between property lawyers and conveyancers. In short, when a property changes hands, a process called conveyancing is carried out – and this process can either be completed by a property lawyer or a conveyancer. A conveyancer has detailed knowledge in the one area of law, and that area is property law. On the other hand, property lawyers have specific knowledge about property law and are able to also handle legal issues such as the tax implications of a property transaction and how the sale of a house might impact a client’s divorce proceedings. Here are three things to think about when trying to choose between property lawyers and conveyancers.
Budget Considerations
When deciding between the two professionals, you must consider your budget. Conveyancers are often cheaper than property lawyers, as usually, lawyers are more knowledgeable on a wider range of topics. Conveyancers can usually be hired for around $600 plus disbursements, while a solicitor may charge anywhere between $1000 to $1100 plus disbursements. Hiring a conveyancer over a solicitor can, therefore, be more affordable, but if your property transaction is complex or you suspect there might be legal issues, you can save money in the long-term by opting for a property lawyer. You should also remember that in order for conveyancers to offer a low price, they often have to take on a lot of clients to make a profit, so you may not get the same level of service as you would from a lawyer.
Complexity of Transaction
It’s important to think about the complexity of your case when considering which professional to hire. The more complex the transaction is, the more important it will be to ensure any uncertainties can be dealt with swiftly. If you’ve hired a conveyancer and something goes wrong, they’ll often send you to see a property lawyer. In this case, you’ll end up paying more than you would have if you simply hired a property lawyer from the start. Property lawyers have the extensive legal knowledge and will be on hand to quickly solve any legal issues that arise during the course of the transaction.
Protection and Supervision
When deciding between a conveyancer and a property lawyer, be sure to enquire about their protection in legal cases. Property lawyers are required to have insurance in case they make a mistake. This is a big advantage to the client, as it gives them peace of mind that their money visual is insured. It’s also important to ask who will be doing the work. Will it be a clerk or a paralegal? If your case is going to be handled by a paralegal, ask about getting the services at a reduced cost, as they’ll have less experience in the legal industry. If a clerk is going to be handling your case, you should also find out what level of supervision will be given to them.