What is conveyancing?
Conveyancing is the process of transferring ownership of property from a buyer to a seller. The process covers much of the legal work involved in buying or selling a property, including the transfer of money and ensuring that the property is legally registered in the new owner’s name.
During the process, the necessary contracts and documents are arranged and signed. Additionally, various searches are completed to ensure that the seller indeed owns the property and that there are no outstanding debts or other legal issues.
What is the role of a conveyancer?
A conveyancing solicitor’s role is to act as a middleman between the buyer and seller, overseeing all aspects of the transaction and ensuring that everything goes smoothly.
As conveyancing has become increasingly complex and regulated over the years, many people now choose to work with a professional conveyancer to complete their transactions.
A conveyancer is typically responsible for handling paperwork and ensuring that all legal requirements are met throughout the transaction. They also have specialised knowledge of property laws and regulations, which can be vital in providing a smooth and successful transaction.
Can conveyancing be done online?
Online conveyancing services such as My Conveyancing Specialist offer a convenient and straightforward way to handle the process without visiting a solicitor’s office or completing paper documents.
The majority of online conveyancing services use an online case management system, which allows all parties involved in the transaction to access and monitor the progress of the sale or purchase. This can be a helpful way to keep track of deadlines and ensure that everything is moving along smoothly.
There are plenty more advantages to notice, which we will discuss in plenty of detail below.
Advantages of online conveyancing
- Reduced costs:
Online conveyancing can be much cheaper than using a traditional solicitor since the fees paid aren’t used for office rental or printing costs.
- Faster turnaround times:
The online conveyancing process is often much faster than using a solicitor. Online services have fewer administrative processes. Rather than visiting your solicitor’s office to complete lengthy forms, you can read and sign at your leisure through an online portal.
- Easier access to information:
As most online conveyancing services are designed with the user in mind, they offer simple and convenient ways to access all the necessary information about the property transaction, including previous sales and online records of any outstanding debts or legal issues.
Disadvantages of online conveyancing
While online conveyancing does offer many benefits, it is not without its downsides, including:
- Lack of local knowledge:
Many online conveyancers are based online and do not have a physical presence in the property’s area. However, your estate agent usually obtains local information about your area.
- Security concerns:
Some people may be worried about the security of online conveyancing, as sensitive personal and financial information will need to be shared online. However, most online services use secure encryption methods to protect this information.
Is online conveyancing safe?
Online conveyancing companies have been popping up across the internet in recent years. Each offers fast and affordable approaches to conveyancing, making the service feel too good to be true.
When completed through a reputable platform, such as My Conveyancing Specialist, online conveyancing is perfectly safe and secure. The same safeguards and checks that are in place for traditional face-to-face conveyancing are present when the process is performed online, so you can rest assured that your transaction will be just as safe.
Is online conveyancing faster?
One of the significant advantages of online conveyancing is that it can be faster than traditional methods since there is no need to schedule appointments or exchange paper documents. Your conveyancer can carry out searches and other tasks quickly and easily online, and conveyancing online can often offer faster turnaround times than solicitors.
Is online conveyancing cheaper?
Online conveyancing is typically 10-15% cheaper than instructing a high-street solicitor for your property transaction. This is primarily due to the reduced costs of running an online conveyancing service versus a traditional law firm.
There are a few reasons why online conveyancing tends to be cheaper than a traditional solicitor. There are lower operating costs with an online service, as they do not need to pay for the overheads of a brick-and-mortar office or other expenses like printing and mailing.
Online conveyancing is cheaper than the alternative; it is essential to compare prices and terms between different online services before choosing one.
How necessary is local knowledge?
While online conveyancing certainly has its advantages, some people may still prefer to use the services of a local solicitor or conveyancer who has in-depth knowledge of the area in which the property is located. This can be particularly important if there are any potential issues with the property that a local conveyancer would be more likely to be aware of.
Should I use an online conveyancer or a solicitor?
The answer to this question depends on your circumstances and preferences. Online conveyancing could be the right choice if you want a quick, affordable, and stress-free way to handle your conveyancing.
However, if you feel more comfortable dealing with a local professional who has in-depth knowledge of the area, a high-street solicitor may be better. Whilst their legal fees tend to be more expensive; you will receive a more personable experience.
The best way to decide whether online conveyancing or a traditional solicitor is right for you will depend on your unique situation and what you hope to get out of the process.
Ultimately, it is vital to work with someone trustworthy and experienced in the field, whether you use an online conveyancing service or a high-street solicitor. Making your decision based on cost, timeline and ease of completion will help you decide whether online conveyancing is right for you.