Saving money when buying or selling a home is the goal of many existing and prospective home owners. While DIY conveyancing theoretically offers one such area where money can be saved, the potential risks outweigh the possible financial gains.

Minimal Cost Savings

Professional conveyancing services have seen significant price reductions, thanks largely to the Internet. Even though it is possible to make cost savings, it’s probable that you’ll only realise £200 to £300 at the most. In exchange for these savings you will need to do thorough research, get to grips with complex jargon, and you won’t have insurance to cover any mistakes you make.

Thorough Research Is Necessary

DIY conveyancing is achievable. The information you’ll require can largely be found online, in libraries, and through publications at a good book store. But it will take up a considerable amount of your time finding and digesting all of the relevant information. In contrast, an experienced solicitor will have first hand knowledge and experience of the entire process.

Time Saving

It may be possible to save some time in the conveyancing process by doing it yourself, but not necessarily as much as you think. Numerous parties need to be involved and regardless of how quickly you work and how much pressure you apply to others, the duration of the conveyancing process will only be as short as the slowest party involved.

Do It Yourself Conveyancing

There are a number of ways to save money in the house buying process and undertaking the conveyancing yourself is one such area. However, the combination of uninsured risk with only a minimal saving means that it is one of the least advisable and viable of those available to you.

This entry was posted on Friday, August 1st, 2008 at 2:10 pm and is filed under Conveyancing Basics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.