Why Should I Use a Solicitor to Sell My Property?

Traditionally, anyone buying or selling property will work alongside a solicitor or conveyancer to ensure that the process runs as smoothly as possible, and that they are not running the risk of being held accountable for – or suffering from – any issues or discrepancies in the paper work.

In recent years, more people have been questioning whether or not they really need a solicitor, and may have even attempted to effectively ‘DIY’ their own conveyancing. Read more about why you need to use a lawyer for your property sale below.

They do not Offer the Only Professional Help Available

You don’t necessarily need a solicitor to help you with the sale of your property. A licensed conveyancer will be able to offer the same level of expertise when it comes to transferring ownership and protecting your rights as the property changes hands. A lawyer will be required at the outset to be issue the contract to your buyer’s lawyer and get the process of transferring the property started.

Of course, when dealing with the transfer of property ownership, it might be beneficial to work with a legal professional local to the area. If you are in Gloucestershire, for instance, then search for conveyancing solicitors Cheltenham to find professionals with a good understanding of the local property market, who will be close by when you need their assistance.

Professional Help Can Reduce Time and Stress

The process of selling a property can often prove to be an incredibly complex process – one that has grown infamous for taking up a great deal of time, and causing property owners plenty of stress. At some stages in the process, it might be possible to work without the expertise of a legal professional, but this isn’t recommended. While it could save on costs initially, it can eat into your free time significantly, and allow the process of selling to take over your personal life. You cannot do the whole transaction alone as a lawyer will need to at least draft the contract for you and will probably not be happy to just do this part of the transaction and not see it through.

A lawyer may also be required at the end of the transaction to receive the funds from the buyer’s lawyer into their client account to allow for the funds to then be distributed to you (and your lender).

Conveyancers and solicitors understand this process inside and out, and manage the sales of property every day. Ultimately, given the complexities of selling a property, it is likely to be in your best interests to work with a professional. It may also put off potential buyers, as the risk of you being unrepresented for some of the transaction means their lawyer may well advise them against the purchase.

It May be a Requirement of Your Mortgage Lender

If you have a mortgage, then it is important to know that the vast majority of lenders will require you to work with a legal professional at certain points in the process. Not only will this help to ensure that the transfer of ownership can go through without encountering any problems, but it will also mean that any issues that do arise will be covered under the solicitor or conveyancer’s indemnity insurance. The lawyer instructed will spend time liaising with your lender meaning you do not have to. The lawyer will also pick up on whether the lender is going to make an early repayment charge or other fee repayment fee to ensure you know the true cost of the sale.

They Can Help You to Manage Your Time

A solicitor or conveyancer will also be available to liaise and negotiate with your buyer’s solicitors on your behalf. This will help to take a great deal of strain off you, ensure that any stipulations within the Contract of Sale are met, address indemnities if they are needed, and confirm that your rights are being protected before you commit to anything. Not only can they provide advise on the process and implications but lots of buying lawyers would not be willing to communicate with a seller without legal representation.

Consider the Bigger Picture

Even after the property has changed hands and all paperwork has been completed, issues can still arise; if you handle some of the property sale on your own, then you may not be covered by your solicitor’s indemnity insurance, and may be held liable for providing the other party with compensation.

In essence, proceeding with the sale of your property without a legal professional instructed for the full transaction may save you money at the outset, but it can make the process run much slower, and any issues – whether your fault or not – could act as a drain on your time, money and resources in the long run.