Why Cheap Conveyancing May Be Risky For You
It's fairly understandable that your budget could be a little too tight as you venture on buying your first property, so you're very likely to consider cheap costs for conveyancing services - and they're practically advertised everywhere.
It's quite tempting to actually give in to the adverts, especially if you're seeing as cheap as 100-pound offers, but really you could be running the risk of getting ripped off a lot of money in the end. Before you make a hasty decision, ask yourself. What are the changes that the quality of the services you'll get are not compromised?
Although conveyancing sounds ominous with a barrage of tasks to complete, a possibly dragging timeline, and loads of paperwork to get sorted, it's actually a bit more convenient now that it used to be, thank to the Internet. There are now conveyancing firms that took advantage of technology to streamline their processes and communication methods to save time and money.
And with these sea of affordable fees from different conveyancers, there's no reason for you to be clueless anymore when it comes to finding the right one to instruct. Just remember, cheap doesn't always mean great.
How much are the actual charges?
Cheap offers are more often sitting out there to attract potential clients like you, but you need to ask how much they would really charge. Besides the basic fee for their expertise and time, there are other costs involved in the conveyancing process. These are items that your solicitor will cover first for you then give you itemised charges upon completion. Find out more or less how much they would cost by asking for a price quote. Don't be swayed by just hearing that "it won't be much" as you make your enquiries.
How long would it take?
Cheap conveyancing may mean they have far too many clients to compensate for the low prices. And when someone has too much on their plate, your own case can just drag on for too long.
As your potential conveyancer of their schedule and how long they reckon they would take to oversee the completion of the purchase for you. Barring complicated issues in the transaction, it's fair to expect a 6-12-week completion.
Are they experienced professionals?
Cheap services may also equate to lack of experience. These conveyancers may just be very new to the field, finding their way around. Now that's going to take a while for you, too. Look for someone who has been accredited by the Conveyancing Quality Scheme, and well versed in property transactions and the local laws.
Are they not going to keep you in the dark?
Make sure that you're hiring someone who can constantly stay in touch with. Let's face it, although you have entrusted them with the whole lot, you need to be updated from time to time. You're never sure what a hundred-pound firm can do though to keep in touch and let you know what's going on.
Most cheap conveyancing services are offered to attract clients. While a number of them can be trusted, others may just either drag your purchase to forever, or break the whole deal because of incompetence. The biggest risk you could be facing here, too, is the idea of hidden charges. That's why it's important you get a hold of a transparent and detailed quote before instructing one.