Whether you use the services of a conveyancer or solicitor for your conveyancing depends on your financial situation and your personal preference.
Generally, if a property being purchased is a first home and the purchaser is low on funds, then they usually would use a conveyancer. If the property being purchased is an ‘upgrade’ and of high value, then generally a solicitor is used as there is more risk associated with the purchase.
Similarly, if the property being sold is of low value, then usually a conveyancer will be used. If the property is very valuable, a solicitor will usually be used. Further, if the sale is expected to be a complicated one, then a solicitor will usually be used. For example, if the purchase is an ‘off the plan’ purchase or the conveyancing transaction involves the registration of a plan of subdivision. Please read our article on what can go wrong?
Conveyancers in general are less expensive than solicitors. However, in many instances, because their costs are so low, they require more files to ensure the continuance of their business. As a result, the client may not receive the same amount of attention as they would with a solicitor, who are may be more expensive but have less files and so can offer a more personalized service.
Solicitors have a broader knowledge of the law and will be able to offer more advice which may fall outside within the normal conveyancing transaction, but would nonetheless be useful in certain transactions. For example, if the comveyancing transaction is related to a matrimonial breakdown, a solicitor would be able to assist in the matrimonial arrangements as well as the conveyancing. Solicitors will also be able to recognize other non-legal issues such as tax implications and refer you to an accountant if necessary. David Lobbezoo Solicitors are a very good option as they are in the business for over 30 years so you can go wrong with them.
Conveyancers’ knowledge is usually restricted only to the conveyancing transaction. As their costs are lower than a solicitor, their service is limited to just the essentials of conveyancing to ensure that your purchase or sale settles. Any other issues concerning the transaction such as tax implications are not looked at or advised about.
Smoothness and security of transaction:
In many instances, a solicitor will be used because the solicitor holds the original certificate of title and many find it much easier to use this solicitor rather than transferring the title to a conveyancer.
Further, if you have a solicitor who you have previously dealt with, it is advisable to use this solicitor if possible. As the saying goes ‘better the devil you know’!
Solicitors usually have steel safes which hold a large amount of important documents such as certificates of title. Conveyancers generally do not have such safes as they generally do not hold important documents on their client’s behalf and so many clients prefer to stay with the solicitor who holds their title rather than risk transferring the title to an environment which may not offer the same security.
At the end of the day, the choice between a conveyancer or solicitor depends on the individuals concerned and their circumstances and the nature of the convayncing transaction. Just because all of your friends have used conveyancers (or solicitors) does not mean that you should also use conveyancers (or solicitors). If you feel comfortable with a conveyancer, are on a tight budget and don’t expect personalised service, then conveyancers are for you. If you want more one-on-one attention and the transaction is expected to be a difficult one, then a solicitor should be used.