Many buyers attempt to cut corners when purchasing a house. Understandably, the property itself can easily cost millions, and with additional taxes, it is no wonder that buyers look for ways to save money. However, is getting professional conveyancing done by a local property lawyer, an area that should be cut?
Low-cost conveyancing can and does save families’ and buyer’s money when settling a property. However, most times there is a long-term trade-off between cost and quality. A common saying ‘’you get what you pay for’, is especially true for areas of great risk like property conveyancing. If you run into problems, low-cost conveyancers can frequently cause more issues then they solve. Two of the big issues are emergency support and experience.
Emergency supportThe process of buying is long and involved, so you need to have the best professional advice available when needed. A low-cost conveyancer is required to take on numerous projects all at once, meaning they likely will not be available in an emergency.
Qualified ExperienceLow-cost conveyancing is also conducted by those less experienced. While cheaper to pay, this can also cause some problems as you are often not receiving the best advice possible. The conveyancer is frequently inexperienced, not a qualified property lawyer and has no supervision from anyone experienced in law. A concerning prospect given the number of legal requirements to property conveyancing.
So how much does a cheap conveyancer actually cost?
Ultimately, while a cheap conveyancing job can save money in the short-term, frequently buyers end up paying extra. A conveyancer will often cut corners to create a cheap service, and those areas may end up becoming vitally important later in the sale. So, if there are any problems, buyers may need to pay an additional property lawyer to fix the mistakes caused by the conveyancer (if they can be fixed) and finalise the contracts. Often the final bill is double the cost of initially hiring the lawyer.
While it is possible to discover the rare conveyancer, who combines quality and low price, ultimately most services require a compromise. Don’t rely on luck with conveyancers, seek out professional property lawyers in Melbourne.
Contact us at P&B Law today with all your conveyancing needs.