When you’re on the hunt for the perfect home in Australia, you’ll need proper legal representation to protect yourself and make sure everything is processing as it should. Typically, this task is left to a solicitor or a conveyancer who is fully licensed and insured. They’re both familiar with conveyancing, which is the process of transferring ownership of the land from one person to another. Competent solicitors and conveyancers will update you on the latest status of the transactions, giving you peace of mind and assuring you they’re on top of every development.
Due to their similarities, many prospective homeowners believe that they can use either professional when closing a deal. However, conveyancers and solicitors offer different levels of help and must be brought in only for specific scenarios. Here’s what you need to know about the two:
What’s the Difference Between a Conveyancer and a Solicitor?
Conveyancers and solicitors are differentiated primarily on three grounds: knowledge of the law, ease of transaction, and the way they handle disputes.
1. Knowledge of the Law
Solicitors have extensive knowledge about property laws and the possible scenarios you’ll experience during a transaction. They can advise you on aspects that go beyond the scope of conveyancing, like tax implications, and refer you to the corresponding specialist to ensure you get the help you need.
On the other hand, a conveyancer’s knowledge isn’t as comprehensive. Licensed conveyancers are excellent at preparing, reviewing, and submitting the necessary documents and are well-equipped to handle property inspection issues and lead title or certificate searches. However, complexities like tax implications fall outside their knowledge since they are less focused on studying fundamental property laws than conveyance solicitors.
2. Ease of Transaction
Solicitors can be incredibly convenient when buying a home. They hold an original certificate of title, which means you don’t have to transfer the title to a conveyancer first, reducing the time spent on documentation. They’re also accustomed to handling sensitive documents and have the necessary equipment to keep them safe. Meanwhile, conveyancers aren’t obliged to keep sensitive documents on the premises, which means there is an increased risk of losing them.
3. Possible Disputes During the Transaction
Sometimes, disputes arise during a transaction. For instance, if you’re buying a house while in the middle of a divorce, a solicitor can help you manage your marital issues while fulfilling their conveyancing duties. They can also help you handle problems that arise during a potential sale, like issues concerning the Victorian Civil and Administrative Tribunal (VCAT) or any court action. You can rely on a conveyancing solicitor for their comprehensive legal status and all-inclusive knowledge, as they can help you with problems that require negotiation to overcome.
Should You Go With a Solicitor or Conveyancer?
The honest answer is that it entirely depends on the situation. They both do an excellent job of handling contracts, dispensing legal advice on proceeding with your sale or acquisition, and dealing with local registries and councils. However, if you’re tight on money, you may want to go with a conveyancer as solicitors cost more due to their extensive expertise and status as qualified lawyers. They also understand property laws in Australia more deeply.
Still, solicitors work better for those in complex situations and high-value transactions. They can handle everything safely, including complexities involving off-the-plan purchases. However, if you’re selling a home with a lower value or have a smaller budget, a conveyancer would do just fine. They work great for straightforward deals and are available online, giving you access to instant home conveyancing quotes.
If you need help in conveyancing in Ipswich and you’re undecided between solicitors and conveyancers, check what you need to close on a deal and manage your transaction. Solicitors are more comprehensive and can tackle a broader range of responsibilities, but conveyancers are perfect for your needs if you are on a strict budget. It ultimately depends on the complexity of your situation, but you can get the best of both worlds in a conveyancing solicitor.
If you’re looking for conveyancing solicitors in Ipswich, look no further than Springfield Legals! We are a law firm specialising in family law, wills and estates, property conveyancing, income protection, and succession planning. Contact us today to learn more about how we can help you close on your dream home!