Transacting in property is complicated, and most homeowners and buyers turn to conveyancers to help ease some of the legal and administrative burden. 

Though, conveyancers are professionals. That means a person buying or selling a property needs to pay for their services. If you’re looking to cut costs associated with transacting real estate, you might be considering doing the conveyancing yourself – you may have even found a DIY conveyancing kit online.

However, there are several things you need to consider aside from saving money. Conveyancing is a legal process and mistakes can have major consequences.

With that in mind, let’s review whether doing your own conveyancing is really worth it

What is conveyancing and how does it work?

Conveyancing
The process of shifting ownership of a property from the seller to the buyer. The ins and outs of the process vary depending on where the property is located and whether you’re buying it or selling it.

If you’re buying a property, conveyancing will include running relevant property and title searches, calculating the stamp duty payable, and liaising with finance providers.

See also: Do you need a conveyancer when buying a house?

If you’re selling a property, the conveyancing process will involve reviewing the contract of sale, ensuring the property is compliant with all relevant laws, and completing other legal documentation.

How much does conveyancing cost?

Cost is probably the biggest deciding factor at play when deciding whether to DIY the conveyancing process. 

The fees charged by conveyancers will vary across the nation, as do the qualifications conveyancers need (in Queensland, for instance, conveyancing must be overseen by a solicitor).

Typically, a person buying or selling a property should expect to pay $1,000 to $3,000 for the conveyancing process. That may or may not include disbursements (costs incurred by your conveyancer on your behalf), for which you might expect to pay $200 to $700.

Most states and territories allow those buying or selling a property to do their own conveyancing. You can even buy DIY conveyancing kits online. These typically cost around $100 to $200 and include all you need for a successful property transaction, such as:

  • A step-by-step guide

  • A contract of sale

  • All relevant forms

  • A list of government agencies involved

  • A list of necessary property searches

  • A glossary of terms

It’s worth noting that the cost of title searches and the likes, generally included in a conveyancer’s disbursements, will still need to be paid if you do your own conveyancing.

Is it worth DIY-ing your conveyancing? 

There are the important factors to consider when deciding whether to do your conveyancing yourself or hire a professional to handle the process for you:

1. Money

Handling the conveyancing process yourself could save you on professional fees, potentially up to a couple of thousand dollars based on the figures mentioned earlier – a significant sum.

However, the legal realm is notoriously complicated and confusing, and a simple oversight could end up costing far more than hiring a professional would have. The last thing any property buyer wants is to lose their deposit over an administrative error, even if that risk seems minimal. A seller, on the other hand, risks losing a sale altogether, which could have serious consequences.

2. Time

While DIY conveyancing may save you money, it often comes at the expense of time and peace of mind. Tasks like ordering title searches, reviewing contracts, and ensuring documents are properly completed can consume hours better spent with family or on other priorities. Not to mention the sleepless nights the process could cause.

3. Industry knowledge

One of the key benefits of hiring a solicitor or conveyancer is their expertise in handling all aspects of the transaction, including unexpected issues that may arise. They're trained professionals who stay up-to-date with the latest legal changes and can offer valuable advice on how to address additional requests or complications.

4. Protection

If you’re buying a property, your conveyancer may be the only professional working solely in your best interest. The real estate agent is focused on securing the highest price for the seller and your home loan lender’s priority is protecting their mortgage. Your conveyancer, on the other hand, is dedicated to safeguarding your legal interests and ensuring a smooth transaction. They also carry indemnity insurance, offering you protection if something goes wrong.

Handling the process yourself leaves you without that safety net, with no recourse to recover losses if mistakes occur.

5. Transparency

Another advantage of DIY conveyancing is having complete visibility and control over the entire process. You’ll handle every step, from reviewing contracts to checking titles and certificates, ensuring you're fully involved in the transaction.

However, while the transparency of DIY conveyancing is appealing, it also comes with added responsibility. You'll need to ensure every detail is thoroughly checked and managed, which could be time-consuming and overwhelming.

Article originally written by Mark Rosanes in 2021. Last updated by Brooke Cooper in 2024.

Image by freepik 

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