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I sold flat without a solicitor!
Comments
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Conveyancing is a combination of
1) a process (do A, wait for B, check B and do C, wait for D, Do E and F, check F amd G etc etc)
2) comprehension and attention to detail. (As long as you know what to look out for - and there are guides that can tell you this - and are reasonably intelligent, it's straightforward.
Yes, you need to know your limitations, and also recognise when something is out of the ordinary and may need you to stop and seek help. But in 7 property sales/purchases I've never had a problem.
Like the OP I have tended to find my attention to detail is greater than solicitors' (who tend to pass the job to articled clerks/conveyancers/admin assistants anyway), and I am faster too as I'm only dealing with one property whilst they are juggling many.0 -
2) comprehension and attention to detail. (As long as you know what to look out for - and there are guides that can tell you this - and are reasonably intelligent, it's straightforward.
QUOTE]
Attempting your own conveyancing is a false economy.
The point is that unless you have the experience, you won't necessarily spot the problem. Like many things in life, a book can only take you so far. In virtually all cases, the relatively low cost of using a professional is far out weighed by the benefit of insurance, and the time and energy you would save alone. Also, even if you spotted the problem, it is unlikely that you would be able to deal with it confidently and would need to refer to a conveyancer in any case.
As a crude example, I'm sure most people could have a go at replacing the brakes in a 30 year old car with the Haynes manual. However, without any experience or training it's probably going to take them some time, and once finished they would still hesitate (quite rightly) before taking their nearest and dearest for a spin!
If you're comfortable with the risk of doing your own conveyancing from a book, then good luck to you. However, I'm not sure I would be advocating it to others in a public forum.0 -
top marks for being innovative. However, I cant get an old legal saying out of my mind
"he who represents himself, has a fool as a client"
(not to offend at all - just a well known saying, and even I could do the same, when it comes to law or accountacy I dont think DIY is worth it)0 -
orangefender wrote: »I would also add a health warning. Whether or not a lender is involved, you should not even consider doing your own conveyancing!
If you think about it, for most, you are dealing with the most valuable asset you will ever own (not to mention your home) worth several multiples of your annual income. Can you afford to get this wrong? How much value do you think a property would loose if say it had no access rights? Would you want to risk retaining an on going liability to pay service charges?
Even if your solicitors fees were £1,000 plus vat, taken in context of the transaction this is a very small amount (particularly when compared to EA fees). If a solicitor misses something they are insured. If you miss something you may have to live with the biggest mistake of your life. Making a small claim for £500 is one thing; conveying an asset worth £500k is altogether different.
I appreciate that self-conveyancing isn't right for every property, if it was complicated I would not have done it.
The fact is, all I had to do was draw up a contract, one piece of paper, that said, basically, "I [insert your name here] sell to you [insert buyer's name here] the property [insert registration number] located at [insert address] for the sum of £x".
I did one for the leasehold flat and one for my share of the freehold.
That's really all there is to it.
Having done it I am now certain that solicitors insist that we need them for this because it's their bread and butter. It pays them to make us all believe there is something mysterious about the process.0 -
beetledriver wrote: »Be carfull with this guys, it is possable to do your own conveyancing in simple cases but it can very easily go wrong. Can I ask you said you had share of freehold and sold both the lease and freeholding how did you handle the managment info?
Not sure what you mean by management info. The flat concerned is one of only two (Victorian conversion) and there is no management as such. Whenever repairs etc had to be done, we just got it done and paid 50/50.0 -
orangefender wrote: »The problem is that unless you have the experience you do not know what the potential pit falls are.
Nonsense. What possible pitfalls could there be when all I had to do was draw up a one page doc basically saying "I am selling this property to you for x amount"?0 -
Like the OP I have tended to find my attention to detail is greater than solicitors' (who tend to pass the job to articled clerks/conveyancers/admin assistants anyway), and I am faster too as I'm only dealing with one property whilst they are juggling many.
G_M makes two really good points here. I went over my contract again and again with a fine toothed comb. The buyer's solicitor was sloppy and careless and put the wrong property registration number on their contract. Nuff said!0 -
orangefender wrote: »Attempting your own conveyancing is a false economy.
But G_M and I did NOT "attempt" to do our own conveyancing. We DID our own conveyancing.
"The point is that unless you have the experience, you won't necessarily spot the problem."
The firm my buyer used have a wealth of experience. They've been operating in Hastings since 1828. http://www.juvens.btinternet.co.uk/solicitor_pages/history.html
and yet they made a mistake on the contract!orangefender wrote: »
If you're comfortable with the risk of doing your own conveyancing from a book, then good luck to you. However, I'm not sure I would be advocating it to others in a public forum.
If you go back and read my first post, you will see that I didn't advocate it to others!
I just said that I did it, that it was simple, that I was successful, and most of all that I saved a lot of money.0 -
Good for you!!!
I think each to their own and if people don't feel able to do it themselves, then don't. In this case it has worked and goes to show that solicitors are not always needed!
Nice work bundly! :money:0 -
But G_M and I did NOT "attempt" to do our own conveyancing. We DID our own conveyancing.
Fine, doing or attempting your own conveyancing is a false economy."The point is that unless you have the experience, you won't necessarily spot the problem."
The firm my buyer used have a wealth of experience. They've been operating in Hastings since 1828. http://www.juvens.btinternet.co.uk/solicitor_pages/history.html
and yet they made a mistake on the contract!
Professional conveyancers are less likely to make a serious material error and are insured when they do.
I very much doubt the solicitor acting for your buyer had personally been conveyancing since 1828. The date of admission would perhaps be a far more relevant starting point! In any case, mistakes do happen, that's life. Presumably you are not quite so arrogant to believe that even you are incapable of making them?If you go back and read my first post, you will see that I didn't advocate it to others!
Well you did say "I don't think I would have done it myself if I were buying ..... but then again, why not? There must be a simple procedure that solicitors follow, so maybe we MSE's can do that also?"
But if you weren't, then what was the purpose of your post? To simply boast and share with the world one of your no doubt many talents?I just said that I did it, that it was simple, that I was successful, and most of all that I saved a lot of money.
How much do you think you saved? £500 plus vat? How much was the property worth which you were selling? How do you know you were "successful" and haven't missed something?0
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