A common question we hear is “What is the difference between a solicitor and a conveyancer?”
They are both qualified to deal with the transfer of property from one person to another, known as conveyancing.
However, a conveyancer’s expertise is limited.
What if something was to go wrong?
Sam and Joanne put their house on the market last year. They found a purchaser after a month. Contracts exchanged and they arranged settlement to coincide with the purchase of their new place. They booked in a removalist and had the carpets cleaned ready for the transfer.
The purchasers pulled out of the purchase ONE WEEK prior to settlement. Sam and Joanne were suddenly left in the lurch. They needed the funds for their own purchase.
The sellers decide to sue for breach of contract. Here are 2 scenarios outlining the difference between a solicitor and a conveyancer:
If they used a conveyancer:
They’d now have to find a Solicitor to handle the matter of suing the purchasers. Delays may be incurred finding a solicitor. The solicitor will then require time to educate themselves on what happened.
If they used a solicitor:
Their solicitor would be able to take immediate steps in the litigation matter. They will already know the ins and outs of what happened. This will save time getting the matter underway, saving Sam and Joanne money.
Simply put, a solicitor has a broader knowledge of the law.
Solicitors are better placed to resolve issues arising beyond simple conveyancing transactions.
A solicitor is able to assist you with issues outside the conveyancing transaction itself.
You may require advice regarding taxation implications of the purchase.
You may not realise what effect your purchase may have on other matters. Such as a property settlement with your ex-partner.
Considering purchasing a property at auction? It is crucial you contact your solicitor beforehand. They need to review the contract and provide you with preliminary advice.
The difference between a solicitor and a conveyancer will also be apparent in cost.
At Sheridan Legal, our price reflects our level of service. We provide a fee agreement at the beginning of your transaction with NO hidden costs.
If you require advice regarding buying or selling a property, contact us.