Solicitors versus conveyancers

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Purchasing property is perhaps the most important financial decision most of us will vere make and it is crucial that everything is done the right way.

There are a seeming myriad of laws governing the purchase of property and each State and Territory differs slightly in relation to property purchase laws. For most people, it is wise to get an expert involved in the legal side of the property purchase and the choice will come down to whether you choose a solicitor or conveyancer.

Both solicitors and conveyancers are familiar with all the forms, regulations and procedures involved in the sale and transfer of property. Engaging them will result in saving many hours of time wrestling with unfamiliar paperwork.

A conveyancer is suitable for what would be regarded as a simple straight forward property purchase. This would usually involve keeping you informed of the process and giving you advice about the sale process, preparing all necessary documentation and attending to the settlement process. In most circumstances a conveyancer will offer cheaper rates than a solicitor, as they are not legal professionals. They are limited in their dealings to dealing with the sale and purchase of the property. If any other legal considerations need to be taken into account, they are duty bound to refer you to a solicitor.

Legal issues that would necessitate the engagement of a solicitor would include such matters as family law, tax law, estate planning or asset protection. If any legal issues are anticipated at all, then the extra money required for a solicitor could prove to be a wise investment.

The team at Australian Finance Hub can refer you to a suitable solicitor or conveyancer right for your needs.

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The website provides general advice only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.

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