Are you proud to take on tasks that others would shy away from? If so, you may think that you can tackle anything and may try to eliminate the middleman in any process, if you can. Yet this type of approach can often end up costing you much more in the end, both in terms of expenditure and time lost. In some cases, it can be such a risk that you can end up losing far more than you might imagine. Nevertheless, you may be thinking about taking on the job of a conveyancer by yourself as you purchase your first home, as you feel that you can handle this paperwork quite easily. Before you begin, go through the project carefully.
What Is Your Time Worth?
Firstly, it's almost impossible to estimate how many hours you will need to invest when compared to a professional conveyancer. As this is their regular job, experience will have taught them how to approach every different case, and as they have done this so many times before, they will be able to streamline their work. On the other hand, you will have to do a lot of research to ensure that you are correctly following the process, and you will probably underestimate the number of hours that you may need. Think of a figure — and double it.
Do You Understand the Scale?
Do you fully understand the risk that you are taking by trying to do this yourself? You will need to follow several very important steps and cannot afford to trip over one of them.
Can You Do Reams of Paperwork?
To begin with, every property transaction has to comply with a raft of different regulations, and if your case turns out to be complex, do you know how far down you will have to dig to find these out? All of the legal documents have to be filed in the right place at the right time and without any mistakes. Furthermore, this process is usually electronic these days.
Can You Handle the Money?
You can't afford to make any mistakes when it comes to the financial issues, either. Each side will have to make careful adjustments during the process of settlement, and you may be responsible for ensuring that these are correctly distributed.
Are You an Extrovert?
Hopefully you are a people person, as there are a lot of individuals to deal with. At various stages you will have to talk with property inspectors, mortgage brokers, government clerks, bank managers and real estate agents, in addition to the seller.
Certainly, people have handled the process of conveyancing themselves when purchasing a home before. However, do you really want to risk making a mistake? In the worst-case scenario you could end up delaying the acquisition of your home, losing some money in the fee structure or even paying some fines.Share