In an attempt to save a bit of money many people are choosing to do without a conveyancing solicitor, but is it worth the effort and stress?
If you’re searching for a conveyancing solicitors Essex offers plenty of choice. However, at a time when the cost of living is putting pressure on house buyers, more and more people are looking to cut corners. Conveyancing is one area which some people may think is worth saving money, but is that wise?
The cost of living crisis
The housing market has spent most of the last couple of years proving people wrong. First came the pandemic which many people believed would slice house prices by half. Instead, the market went into overdrive. Estate agents who feared the pandemic might put them on the breadline suddenly found themselves with more work than they could handle.
The unexpected surge was widely put down to the stamp duty holiday and other measures such as help to buy. That, and a growing desire for larger houses and open spaces, pushed prices up to record levels.
However, once the holiday ended, many experts confidently predicted the housing market would cool off. Instead, 2021 saw prices march even higher and that’s a trend which has continued into 2022.
Uncertainty remains about the future, but what’s certain is that the property sector continues to defy all norms of economic thought.
This housing boom comes at a time when Britons are facing double digit inflation, rising economic uncertainty and a growing cost of living crisis. From the supermarket shelves to the petrol pump, people’s finances are coming under attack from all angles.
So, it seems odd that buyers are still flooding into the market. Surely, you’d thing, there comes a time when people simply can’t afford to buy – doesn’t there?
The problem is property doesn’t work like other businesses. A shortage of houses and growing rental prices mean people are still desperate to get onto the property ladder by any means necessary. Many people will be willing to essentially wing it and cut out any costs they can find.
When it comes to conveyancing solicitors, buyers are looking at the costs and asking whether this is something they might handle themselves. There is, after all, no requirement to use a conveyancing solicitor.
Given the fees people expect to get from conveyancing solicitors, buyers may feel the DIY route is the best option for them. Unfortunately, things are not always so straightforward.
DIY versus having conveyancing solicitors
Technically you can do your own conveyancing, but the process is time consuming, complicated and even the smallest mistake can cause problems. It’s about much more than filling in a few forms. You’ll have to carry out a host of enquiries, searches and verifications before the sale can go ahead. If these are not done, or if you make mistakes, putting things right can get expensive.
Doing your own conveyancing, then, is possible. However, Hook & Partners will take care of all this for you. It reduces the risk of mistakes and frees you up to go about your day.