So You Think You Can Be a Conveyancer?
Do you pride yourself on your ability to multitask and to get a variety of jobs done, even though they are outside your comfort zone? This may be fine if you're taking on a task that is relatively mundane or that you could reasonably expect to complete on autopilot, but you should be very careful if you want to tackle something more important. Take the purchase of your first home, for example. There's a lot of work involved in handling the paperwork and many different people to deal with, so is this really something you should approach yourself, given that there is so much at stake?
Working It out
Before you think about the risks involved, perhaps it would be best for you to calculate the true worth of an hour of your time. Certainly, you may attempt this project in your spare time, but this is valuable in its own right. If you are to replicate the work of a professional conveyancer, you will also need to stretch out the number of hours involved, as you cannot be expected to do the work as efficiently as a professional.
Remember, before you can begin this type of work you need to do a lot of research, even if only to make sure that you follow the process properly. This will be over and above the time that you spend on negotiating, filing paperwork, attending meetings and so on.
You may be a fast learner and quite confident in your ability, but you are also risking a lot. What if you make a mistake that causes complications? You may not be up-to-date on the latest rules and regulations, and a misstep could set back the process by days and even weeks.
Cash Is King
Over and above everything else, you need to ensure that all the money matters are carefully handled. There will be several adjustments to be made on each side during the process of settlement. If you are taking on the work of the conveyancer, you need to arrange for the proper distribution of these funds.
Losing Your Voice
Perhaps you should make a list of all the individuals involved so that you know who you will have to engage with. Think about property inspectors, mortgage brokers, bank managers, real estate agents, local government representatives and even utility providers. These will be all be part of the picture in addition to the seller, and you'll have to carve out quite a lot of your time in order to deal with everybody.
The Better Approach
As you can see, this is a daunting task for even the most ambitious amateur. Consider turning to professional conveyancing services for help instead.