Conveyancing Lawyer or Licensed Conveyancer?
Tuesday July 7, 2009
One of the hardest decisions to make after you have decided to sell your property can be the choice between conveyancing lawyer and a licensed conveyancer with pros and cons in both options.
First, what is the difference between a conveyancer lawyer and a licensed conveyancer? Essentially its comes down to the background of the individual themselves with conveyancing lawyers being lawyers whose main area of practice is conveyancing, including all legal work associated with such a transaction, including any issues that may arise such as fraud, dummy bidding buying and selling of real estate and the conveyancing process. This differs from a licensed conveyancer that will perform only conveyancing work and cannot advise on any legal matters as set out in the Conveyancers Act 2006.
What this means is that if the sale of your property has the potential to become complicated in legal matters than a conveyancing lawyer will provide the most comprehensive cover for the duration of the process. Although, if the sale of the property is a relatively simple matter than a licensed conveyance may be the best option.
Typically a licensed conveyancer will offer less expensive fees for their services as compared to a conveyancing lawyer. However, the overall fee at the end of the entire sale process may be very different to what is initially quoted, especially if legal matters are involved and the licensed conveyance had to refer you to a conveyancing lawyer. It is best to do as much research as possible on those individuals you are considering hiring and understanding as much as you can of your property and the potential legal pitfalls.
One of the final points to consider is professional indemnity (PI) insurance, which is insurance for a professional for any negligence in the performance of professional tasks. In terms of conveyancing lawyers and licensed conveyancers, lawyers have greater insurance as theirs covers every process that the lawyer will perform on the client's behalf whereas conveyancers are only covered for strictly conveyancing work.
Of course the decision between hiring a conveyancing lawyer or a licensed conveyance depends on the client, their needs and the property in question. It is always wise to research the experience and history of the professional before hiring them and even ask for references as examples of their work.
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