Anyone Done their own Conveyancing?

powerwin

Has anyone here tried doing their own conveyancing? If so, how did it go? Would you do it again?

Has anyone else got any comments on how difficult doing your own conveyancing is?

Thanks

dimbo61

The cost of using a solictor to do this is not that much in the overall cost of buying a property so how much will you save by DIY ?
Will you be servicing the boiler yourself? checking the electrics? doing your own searches

neverdespairgirl

I definitely wouldn't. I'm a barrister, but it's not my area of law. So I've no idea which forms / slips / procedures, it would take me ten times longer than someone who does it regularly.

Thrugelmir

Are you a cash buyer or are you buying with a mortgage?

kingstreet

If you are taking out a mortgage, the lender will appoint a solicitor to act for it and you'll be expected to pay the fee. You might as well appoint a solicitor of your choice, having researched the fees involved, and have your solicitor do the work for you and the lender.

With some of the pre-contract issues we're asked about on here, I wouldn't dream of trying to do it myself and I've been around the business over twenty-five years.

catfish50

powerwin wrote: »

Has anyone here tried doing their own conveyancing? If so, how did it go? Would you do it again?

Has anyone else got any comments on how difficult doing your own conveyancing is?

Thanks

I did it three times. I followed the instructions in a book. As has been said, I still had to pay for the lender's solicitor but as I remember it that wasn't a lot.

I didn't have any problems, and in fact found it less stressful than using a solicitor. But I wouldn't do it now, simply because the lenders really don't like it. Back then I felt able to thumb my nose at them because I knew they wanted my business, but conditions have changed. Now I would use a solicitor.

noodle

I am (trying to) sell, and when I do I will not be buying. Can anyone suggest whether I should consider the DIY route? There is a mortgage on the property, but by the time I sell there might not be.. would the presence or otherwise of a mortgage affect whether or not to go DIY?.

The reason I'd DIY is to retain control and avoid delays, rather than to save money.

I have a law degree, though I never went into practice, and I did the conveyancing module.. so I know my stuff*


* this is, obviously, a lie. I knew my stuff just enough to get 62% on an exam about 15 years ago.. but the serious question still stands.

catfish50

Your buyer might have to get a mortgage, though, unless you can find a cash buyer. At the time I was doing this, lenders were falling over themselves to lend money, so the DIY conveyancing wasn't a deal-breaker. Nowadays they're far more reluctant to lend, so their disapproval might carry more weight. They can't force you to use a solicitor, of course, but a buyer might be reluctant to proceed with a purchase the lender is unhappy about.

I did DIY for all three reasons -- retaining control, avoiding delays, and saving money. You know far more than I did, if you've done a conveyancing module. But definitely I'd advise you to buy a book, to keep up with what may have changed since you did the module. If your property's registered, it should be straightforward, as you're selling only. No one knows your property better than you.

Which do a guide to DIY conveyancing. You could probably find it on Amazon or the Which website. Hope this helps you decide, but remember I'm an amateur!

Annisele

noodle wrote: »

There is a mortgage on the property, but by the time I sell there might not be.. would the presence or otherwise of a mortgage affect whether or not to go DIY?.

If you used a solicitor, they'd be able to give an undertaking that the mortgage really would be repaid using the sale proceeds. You can't do that - so I suspect that using a solicitor would reduce delays.

Edit: Oops - seems I got the solicitors the wrong way around; ignore above.

catfish50

Annisele wrote: »

If you used a solicitor, they'd be able to give an undertaking that the mortgage really would be repaid using the sale proceeds. You can't do that - so I suspect that using a solicitor would reduce delays.

The lender's solicitor does that. The DIY conveyancer pays for the lender's solicitor.

noodle

catfish50 wrote: »

The lender's solicitor does that. The DIY conveyancer pays for the lender's solicitor.

Which lender are we talking about? The buyers lender, or mine? Does mine need a solicitor if I am only selling?

If I have discharged my mortgage before I sell, then I won't have a lender at all, so presumably there is no undertaking to be undertaken?