We are about to put an offer in on a property and I was after some advice if to use a Lawyers or Conveyancing firm.
Does a lawyer offer better protection for the higher fees?
Can a Conveyancing firm check a Section 32 for us before a contract goes uncondition?
If we submit an offer on a contract , is there a time limit that the seller has to accept or reject?Essentially, a lawyer will pass the conveyance to a conveyancing clerk in their office. You then pay the extra for them to check their office's work. Conveyancers are licensed to do the job, if it is a straightforward transaction, use the conveyancer. Both will review the contract gratis prior to you submitting an offer and recommend any amendments required.
You should put a time limit on your offer ie it will expire at 4.00 pm Friday XX/03/08
I don't dispute what SNM says, but personally, I think the additional expense for the comfort of having a solicitor "in the loop" is well worthwhile. Of course, this is only if your solicitor is a high quality property lawyer; not if they're just the local solicitor who does a bit of everything. We're talking a difference of < 0.1% of the transaction size.
If everything is straightforward, yes, a conveyancer will be fine. But the problem is that one never knows beforehand which purchases will be straightforward and which will be challenging! I've seen people find themselves in a difficult transaction, and trying to find a lawyer at that time is unnecessarily stressful. I also think that using a conveyancer sends a message to the other party that you're "penny-wise and pound-foolish"; I know that I've had several transactions of this kind which got difficult, and I believe I got the better outcome in every case, because of having a solicitor on my side.
Up in QLD we only have lawyers. Some firms like conveyancing works specialize in conveyancing at a budget price. I have spoken to some of their ex clients and I suggest you do the same. I would not use a solicitor referred by an agent but generally speaking I prefer the suburban solicitors with some litigation experience. Try getting specific performance through conveyancing works!
Many suburban lawyers will look over an offer for free if you do the conveyance through themHi, a good conveyancer does a far better job than a cheap lawyer, mainly because the conveyancer knows all about conveyancing. I once took the option of peace of mind with a solicitor, cost me four and a half thousand, my conveyancer charged me $300. The solicitor didn't do a better job [she's my niece, a very smart girl by the way]. Since then, I've stuck with my conveyancer who provides me with all the support I can possibly need, right down to drawing up by-laws for community titles & etc.
KY
Hi, Petersemail
A conveyancer does a lot of Sec 32 and have the experience and knowledge to deal with them, especially if it is a pretty straight forward contract. My partner and I bought our first property a few months back and we used a conveyancers who are members of the Australian Institute of Conveyancers. Do a search and check out the website. They have charters in all states.
A solicitor is useful if you know you are going to use some fancier terms and conditions in your offer.
A third approach is to use a conveyancing firm that ties with a property law firm.
You will have to put a time limit on your offers. There are no laws or regulations that state an automatic time limit.
All the best
Daniel Lee
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