Hi,
I am considering DIY conveyancing for the purchase of a vacant block of Land in Brisbane QLD. I understand this will save me money(~500) but it will take time and require me to be on the ball in terms of getting the searches done.
I would also enjoy the challenge and experience of going the DIY route.
Is this a bad idea?
Where can I find the best DIY conveyancing kit, that is clear, concise and comprehensive?
Kind regards,
dan.You will find that most investors will rely on a 'professional' for their conveyancing. It is generally not worth their time to do all of the legwork (esp when it forms part of the cost base). It may pay to do a short course at evening college (if one is available) to make you aware of all of the responsibilities, the requisitiions that you are required to make and what to do if you get into trouble.
What if you make a mistake?
You are making such an important purchase, why risk it?
On the other hand, it could be a good way to learn.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Because it's vacant land its going to be a simpler process than if it were a house and land (or rental property). So I figure I may as well learn on this one. I am thorough by nature so am reasonably confident. Hopefully not over confident!
That's interesting…could you do some work experience with a conveyance firm?
Vacant land may be simpler but it also might be more complicated as you will need to ensure there are no issues with the land or zoning that will prevent you or a purchaser from you building on it.
A kit will probably cost at least $100. I will do my own conveyancing in NSW because I have done a substantial amount of NSW conveyancing. I would not do conveyancing in another state because I'm not familiar with their processes.
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