However there are a variety of reasons why you shouldn’t. In the property sale process there are a number of parties with different roles and rights and it is often easy to overlook that each has legal obligations.
As a buyer, it is easy to feel the real estate agent is your friend, but they have been appointed by the vendor to sell the property and represent their side. Their job is to secure the best price for the property in order to gain the best commission possible.
If you are a vendor or a home buyer, a solicitor or conveyancer will have your best interests in mind. Their role is to protect your legal interests and to keep you safe.
“Often I will have a client who is overwhelmed and who has been told different things by different parties in the sales process. They come to me utterly confused unsure what they should believe,” says Anke Gibbons of Conveyancing & Property Solutions in Richmond NSW.
“My role is to provide clear guidance throughout the process. I have no hidden agenda; it is the client’s best interests I have to achieve.”
There are a number of stages involved in the property sale process where something can potentially go wrong and doing your own conveyancing can be a daunting event. Especially as it could cost you thousands if something does go wrong.
The stages of a property sale include:
- Sign the Contract Note (or similar e.g. Offer and Acceptance, Offer to Purchase) or Contract of Sale
- Exchange contracts with the buyer/seller
- Answer Requisitions on Title
- Sign the Transfer of Land
- Arrange mortgage discharge
Each stage involves certain steps where you could get in trouble trying to navigate yourself. The cost of a mistake could be in the thousands (or even their entire home), so it is not worth sacrificing a few hundred dollars to try and do it yourself.
“At Aussie all our Mortgage Brokers have a diploma in Financial Services (Mortgage Broking) and we still always recommend that our clients always seek independent advice, “says Gary Lewis from Aussie Richmond (NSW).
“The repercussions of not getting advice could mean a losing a lot more than money. It is a customer’s plan for their future. We want them to understand all of the relationships in the process from the purchaser or real estate agent, to the one they are about to enter into with a lender.
“Our catch-cry is that It’s Smart to Ask, and this extends to asking an independent legal adviser to explain all the intricacies of the sale.”