Do you need a solicitor to buy a house?
As already mentioned, you can – in theory – buy a house without hiring a solicitor for your conveyancing. In reality however, you may find that it isn’t practical, or even possible, for you to take care of the processes involved by yourself.
Again, there are plenty of factors and obstacles to consider when thinking about DIY conveyancing, such as:
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- Buying a house with a mortgage: Most lenders will refuse self-conveyancing as they’ll want a professional to take care of their interests. This is also why some lenders have a set panel of lawyers who they approve to work for them. The other side’s solicitor could refuse to deal with someone who is representing themselves, which is becoming more common. So, for those who are not cash buyers, DIY conveyancing probably won’t be an option.
- Legal understanding: Unless you have a fair amount of knowledge of the laws around conveyancing, including the Law Society’s Standard Conditions of Sale, it can be difficult to find the most up to date regulations. Often, it’s worth paying for a professional conveyancer to remove the hassle and stress of getting yourself tied up in the legal aspects.
- Getting hold of the correct forms: As mentioned above, there are many standard forms used in the process of a house purchase. Although these can be found on the Law Society website, TA6 and TA10, for example, can’t be printed or downloaded. You might struggle to get hold of these forms or, at the very least, you could end up spending quite a bit of time searching for them.
- Exchanging contracts: Solicitors exchange contracts on the phone, in accordance with a protocol laid down by the Law Society. It is unlikely that you will be allowed to do this, as it requires undertakings to be given by legal professionals. You might have to go to the sellers’ solicitors’ office to do the exchange in person or send them your copy of the contract and deposit and ask them to hold them until you agree to exchange over the phone.
- Personal responsibility: If anything goes wrong, you’ll be held responsible and it could end up costing a lot in the long run. A solicitor or conveyancer will have proper legal insurance in place to protect their client in this instance.
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Source: https://tholansonnha.com
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