DIY Conveyancing - QLD Seller

Discussion in 'The Buying & Selling Process' started by Pumpkin, 27th Feb, 2020.

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  1. Pumpkin

    Pumpkin Well-Known Member

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    It's a little surprising that there's not much talk about this topic on PC here.

    Given the number of times we got frustrated of the Solicitors/Conveyancer when we purchased, this time we are the Sellers and wonder whether we should explore this area.

    At our age we will be downsizing and will slowly relinquish our assets. So might be a good time to learn the trade?

    So PC'ers, please inundate me with suggestions on how to start this. I have found some websites but still prefer word-of-mount from a trusted Community.

    Thanking you in advance.
     
    Pumpkin, 27th Feb, 2020
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Focus on your skillset and make money where it counts rather than losing money where you can rely on a professional to undertake the work.

    Doing your own conveyancing work might save you $1,000-$2,000 ie very little for the work involved.

    Doing a for sale by owner might save you 2-3% of the property value but poor marketing or disclosures or negotiation skills will cost you $X0,000's
     
    Scott No Mates, 27th Feb, 2020
    #2
  3. Lindsay_W

    Lindsay_W Well-Known Member

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    Are you talking about just doing your own conveyancing or starting a business to be a conveyancer?
    If the latter, what's your point of difference? As in, why would someone choose to use you over the many others out there?
     
    Lindsay_W, 27th Feb, 2020
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  4. Trainee

    Trainee Well-Known Member

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    Also people may not realise when solis seem like they are difficult is because they are doing it properly (as opposed to what makes sense to a layperson) and following (stupid sounding) procedures.
     
    Trainee, 27th Feb, 2020
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    How do you do electronic conveyancing? You would need to register with PEXA
     
    Terry_w, 27th Feb, 2020
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  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Solicitors I know wouldnt dare do their own conveyancing. The base conveyance fee is often $1100 or so.

    You insure you car for loss for more than the cost for base conveyancing. You wouldnt drive unreg and uninsured so why take that approach with property ?
     
    Paul@PAS, 27th Feb, 2020
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  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I used a conveyancer recently, even though I am a solicitor. I just used the same one as the vendor - and she stuffed something up, but she worse the cost without me asking. Probably because she worried about me being a solicitor - it comes in handy
     
    Terry_w, 27th Feb, 2020
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  8. Pumpkin

    Pumpkin Well-Known Member

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    Just doing for our own sales. Wont contemplate if we are buying.
     
    Pumpkin, 27th Feb, 2020
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    Lindsay_W likes this.
  9. Pumpkin

    Pumpkin Well-Known Member

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    Interesting... didnt know this is allowed.
     
    Pumpkin, 27th Feb, 2020
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  10. wylie

    wylie Moderator Staff Member

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    I've done my own conveyancing (many years ago) and hated it, but at the time it saved us money. My mother continued to do her own for a bit longer, even though it caused her a lot of stress.

    There used to be a kit you could buy for a hundred dollars or so, and it was easy to follow, but I still hated it, and it stressed me to the eyeballs.

    There's no way I'd do my own conveyancing, ever again. And that's just because of the stress level, let a lone even thinking of what if something goes wrong, I miss something, etc.
     
    wylie, 27th Feb, 2020
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  11. Trainee

    Trainee Well-Known Member

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    my conveyancer refused to do that. So its not an official rule?
     
    Trainee, 27th Feb, 2020
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  12. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Nope. Both lawyers and conveyancers can act for the one party, but it can cause issues
     
    Terry_w, 27th Feb, 2020
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