Property investors these days have more choices in terms of finding solicitors or licensed conveyancers to complete the legal process of their purchase or sale. Technology has helped in paving the way for presenting plenty of firms for them to choose from. However, this may also pose a risk for stress especially if one made the wrong choice.
People generally make mistakes by overlooking a few factors here and there when buying or selling properties. This is why you need to make a sound choice by following these five best practices in choosing a suitable conveyancing firm to help you out with your property investment.
1. Do not just settle for the cheapest conveyancing services as you see them on the adverts.
The Internet is a great place to start your search and your research for information about conveyancing firms. The cheapest ones may seem a little dodgy so verify all the information you see by personally getting in touch with the firm. The cheap cost may just be an initial charge to catch your attention and you might be charge consequently as the process moves along. Ask for a FIXED PRICE quote to be sure you won’t go over your budget. Why save money conveyancing just to find you get a bad service?
Check for the value that these firms offer to make sure you get the best services for your money.
2. Do not just hire a firm especially if they’re not on your mortgage lender’s panel.
Why? Chances are your mortgage lender may assign a different conveyancing firm to complete certain tasks in the process while your own conveyancer does the others. This means escalated costs and additional time for everything to be completed. You won’t need all that.
3. Find out if your choice of conveyancing firm has enough experience to help you out with the process.
You might have had a good referral from a friend but you can never be too sure. Check to see if the firm you’re about to hire is capable of possibly difficult transactions. Ask them if they have experience in various property buying/selling schemes to gauge their capabilities.
Also, if you’re hiring a firm with quite a number of staff, check to see if they are all well coordinated so the information and completed tasks are updated. This way, when you get in touch to follow-up, you won’t encounter someone who has no idea what you’re talking about.
4. Do your research like clockwork.
You can avoid financial disasters by finding a reasonable amount of information about the firm you look to hire for conveyancing. Find out more about their accreditation, if they are a member of a reputable association of conveyancers, or if they are part of a Conveyancing Quality Scheme. This lets you know that they are strictly following standards and regulations to serve at their clients’ best interest.
As much as possible. find out the ways you can directly communicate with them for a smooth process. It is important that they have at least two available direct-communication channels (phone and email, ideally) so you’ll get updated when needed.
5. Avoid hourly rates for conveyancing services.
This may have worked in the past but there is a great chance for you to not be in control of escalated costs brought in by transaction difficulties requiring extra work. Look for conveyancing firms that can give you a fixed price rate with itemised disbursement details so you can work on your budget.
Remember to carefully screen the list of firms you are looking to hire for conveyancing, so your transaction won’t end up in an unsatisfactory way. Basically, it all boils down to research and getting as much information you need before making a choice.
Narrow down your search by considering your own preferences and budget, and ask around, besides checking the Internet for information to ensure a trouble-free transaction.