Pitfalls of DIY Conveyancing

You might be tempted to carry out your own conveyancing to save money, however taking this short cut can easily come back to haunt you.

Cost cutting when making a significant investment is not a great idea when you consider what can go wrong. Examples of what can go wrong include:

1. A home, garage or shed may encroach on an adjoining property;

2. The boundaries may be incorrectly shown on the legal title to the property;

3. A dividing fence may place land that is yours within a neighbour’s boundaries or vice versa;

4. It may seem unbelievable, however there have been cases where people have purchased the wrong property; and

5. The local council may prevent land being used for the purpose intended by the purchaser.

By conducting relevant searches, experienced lawyers can discover these issues and are trained to help you resolve them. If you don’t have the relevant experience or the appropriate training you are likely to overlook such issues.

For example, stamp duty on a $300,000 home is around $10,000 and the seller will generally pay a similar sum in sales commission. By comparison, a law firm’s professional costs for attending to the conveyancing on your behalf is likely to be less than $1,000.

A law firm’s fee usually carries a small premium, however it is a premium that ensures your interests are fully protected. Think of it like taking insurance, but only once in the lifetime of your property.

Launceston based Cormiston Legal can assist you with the conveyancing process - we provide prompt, friendly, professional and value for money service, and we will keep you informed at all stages of the Tasmanian conveyancing process.

Whilst we are based in Launceston, we can help with your sale or purchase of property in any part of Tasmania.

In addition to preparing contracts and attending to the transfer of property, we can also help you with all aspects of your conveyancing transaction such as attending to relevant searches, dealing with banks, lawyers and conveyancers to complete your sale or purchase, attending to stamping and registration of documents at the Land Titles Office.

We are happy to discuss costs and fees with you in relation to conveyancing in Tasmania and can provide you with a detailed quote by simply completing our online conveyancing quote form https://www.cormistonlegal.com.au/conveyancing-quote or you can call us on (03) 6332 9353.

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