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What Is the Difference Between a Lawyer and a Conveyancer?

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October 6, 2021

While you’re climbing the property ladder, we’ll make sure you don’t fall.

When buying or selling a property, there is a necessary legal process to undertake that transfers the ownership of the property from one person (or party) to another. If you’re buying or selling property, you should engage the services of a professional – a lawyer or a conveyancer – who will provide confidence that you are fully protected legally and that all the necessary documentation has been properly reviewed and completed.

This can be the difference in securing a dream home, capitalising on a hot offer, or seeing your property dreams turn into a nightmare because certain details have been overlooked, or broader implications of your transaction, such as tax affairs, have not been considered.

Let’s say you’re searching for a property to buy. Most real estate agents will advise you to be “market-ready”: from knowing your budget to pre-approved finance, you’re ready to make an offer and get a jump on the market. That also means having a solicitor or conveyancer ready to go. They are your security blanket – they make sure that the property you want to buy is what it says it is, with no hidden surprises.

Between exchange of contracts and settlement, your solicitor/conveyancer will obtain any necessary searches/certificates, prepare to have the property transferred to your name upon settlement and, if necessary, coordinate having funds available from your bank.

The question is, who do you engage? A solicitor (lawyer) or conveyancer? In most cases, a conveyancer will be cheaper, but the price is not the only factor to consider. Here are a few points to consider.

If you engage a lawyer, you can be confident that a legal professional with specialist skills and experience in property law is acting for you and that any risk to you in the transaction has been identified and mitigated.

From celebrating buying your first home to downsizing in retirement, Foye Legal can guide you through buying and selling property through all stages of your life.

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