Lawyers or Conveyancers – Who should you go to for your conveyancing matter?
Conveyancing is the legal and statutory processes required to give effect the transfer of ownership of a property to a new owner. Most people engage a licensed conveyancer or solicitor for their conveyancing, but how do you decide which option is right for you?
What is a conveyancer?
A conveyancer is a licensed professional who is qualified to help you with the legal processes and documents involved in buying and selling a property. They are authorised to assist with work limited to the “conveyancing work” as defined in the Conveyancers Act 2006. Under the Legal Profession Act 2014, they cannot provide legal advice.
What is a conveyancing lawyer?
A lawyer has undertaken a law degree, holds a practicing certificate and can perform all tasks that a conveyancer can do. A lawyer has a broader knowledge and expertise of the legal system, extensive knowledge of property law and a better understanding of other aspects of law that might affect your conveyancing. A lawyer is qualified to give legal advice when a legal issue arises through a conveyancing matter. This happens more often than you think.
Why should you engage a lawyer over a conveyancer?
People often believe that there is no need to engage a law firm to act as their representative for their conveyancing matter, however there are many reasons why engaging a law firm would be beneficial to you.
Selling or purchasing a property is one of the largest financial transactions of your life. Most people try to save costs by engaging a ‘low-cost’ conveyancer. However, in our experience, conveyancing fees end up being very similar to that of a law firm. Conveyancing firms do not have the same upfront cost disclosure requirements as law firms, the initial ‘low-cost’ quote does not include the extra fees and costs that arise throughout the matter that a law firm discloses to you up front. Spending a small amount to do this now can save you thousands of dollars in the long run. As the saying goes, you get what you pay for!
Conveyancers do not have the legal training, qualifications or experience to perform anything beyond simple “conveyancing work”. Whereas lawyers provide the most comprehensive form of legal representation in conveyancing transactions.
If a legal issue arises you will require expert legal advice. Legal advice is outside of a conveyancer’s expertise and scope. If this happens a conveyancer will refer you to a lawyer. You will have to go to a lawyer to get advice. Often it is frustrating to find a lawyer and then explain your issue again. If you already have a lawyer engaged this can be done inhouse and you can be at peace knowing you have the legal expertise to resolve maters efficiently and effectively.
Some documents and notices required throughout a conveyancing transaction may seem fairly routine. They all have certain aspects which are to be dealt with carefully. If not dealt with care, critical items can be missed which could be detrimental to your conveyancing transaction.
Sometimes conveyancing can require other agreements be reviewed, drafted or negotiated, or even suggested to a client of which they may not be aware. This can include documents such as a lease, private loan agreement, mortgage and joint venture agreements. Lawyers have the specific technical and legal knowledge to draft these documents. Having this type of legal work done at the same time can be more efficient and cost-effective. A lawyer will have a holistic understanding of the matter whilst doing a property transaction that is a part of a wider deal or agreement.
Engaging a solicitor who has these attributes will be well worth it. Wollerman Shacklock has extensive experience in handling conveyancing matters and is one of a few accredited property law specialists in Victoria on its team. If you wish to have our firm assist with your sale or purchase, please contact our office on 03 9707 1155.