Batman v Superman. Godzilla v King Kong. Solicitor v Conveyancer. There have been some monumental ding-dongs throughout history. . . But, if you’re looking to buy or sell property, which prizefighter do you choose for your corner?
Well at s1homes we’d leave aside the superheroes and prehistoric pugilists and focus instead on the property professionals.
And to make your choice even easier, this is your guide to the differences between conveyancing solicitors and licensed conveyancers.
Essentials
Both the solicitor and conveyancer offer legal advice, making sure all of the paperwork is in order, handle the contracts and take care of transaction transfers.
Solicitors, being qualified lawyers, can also provide a full range of legal services. This can prove an advantage, especially if a deal suddenly gets a bad case of the hiccups. Of course, it also means a solicitor can potentially be more expensive.
With a focus purely on property, conveyancers can bring years of specialist knowledge and frontline experience, as well as the ability to handle the necessary legal work. Often, they can be contacted outwith normal office hours – some firms even operate seven days a week – which equals easier and more efficient communication.
That said, if complications do arise, they may need to refer you to a solicitor.
Training
While a conveyancer focuses their professional training solely on property and the art of conveyancing (this is simply the legal term for transferring ownership of property, whether buying or selling), a solicitor studies a wider range of legal services – and for a longer period of time – then specialises in trading bricks and mortar.
Regulation
Both solicitor and conveyancer are fully regulated and insured. In order to do their jobs they must abide by the rules and regulations of their respective governing bodies.
For solicitors this comes in the form of the Solicitors Regulation Authority (SRA) and Law Society of Scotland or England and Wales. Some solicitors also sign up to the Law Society Quality Standard.
The Council for Licensed Conveyancers (CLC) oversees qualified conveyancers, who may also be regulated by the SRA if they work for a legal firm.
Priorities
In order to avoid a potential conflict of interest, there’s a requirement that forbids solicitors acting for both parties in a property deal without informing everyone.
Conveyancers, however, can act for buyer and seller; so, bear in mind, using your very own conveyancer ensures your interests are the top priority.
The Solicitors Regulation Authority (SRA) also requires solicitors to disclose any payments to referring agencies; this doesn’t apply to conveyancers.
Choosing
There are thousands of different types of property on s1homes and just as many variations on how they will be bought and sold. Most transactions are perfectly straightforward while others may require negotiation or, in very rare cases, dispute resolution.
This means it’s important to get the right professional for your particular situation, taking into account factors such as costs, competency and quality of service.
If you’re in any doubt, the best way to choose the right conveyancer or solicitor for your purchase or sale, is to compare reviews of, and get quotes from, a number of reputable firms.
Also be prepared to ask questions, such as how and when they can be contacted and what systems are in place for progress reports. Another litmus test is to ask for recommendations from their previous clients.
It pays to take the time to decide on the solicitor or conveyancer that’s best for you . . . you can also enjoy taking time to find your dream property with s1homes.