Purchasing residential properties is not only costly, but it also involves documentation of a legal nature. Simply put, this is called conveyancing, which is the transfer of a property’s legal title to another person. During the conveyancing process, it is inevitable as well as essential to hire a solicitor or conveyancer to take care of this matter. While hiring a professional can be significantly helpful for the legalization and authentication of your property, their professional fees can burn a hole through your pocket, especially if they charge by the hour. There’s no guarantee that the price will remain consistent as there can be disbursements and incidental expenses involved.
As today’s marketing structure varies significantly due to the competition, most firms are switching to a fixed fee conveyancing service rather than offering traditional conveyancing. As it name suggests, fixed fee conveyancing is a service that you can pay for based on a fixed rate. This gives homeowners several benefits, such as the following:
Fewer Expenses, More Savings
In traditional conveyancing, there are separate costs required from the buyer, including the service fee and resources fee. More often than not, a majority of buyers aren’t aware of these hidden fees adding up until the end of the transaction. This system is advantageous for service providers, but the opposite is true for buyers as it becomes a significant expense that may not be accommodated by their budget.
With fixed fee conveyancing, your chosen firm will provide you with an exact quote without any hidden costs on the final bill. This can then help you determine if the service won’t go over your budget. Depending on the price you’ll be offered, you’re more likely to save by spending less and focusing your money on your property. purchase.
Just make sure that you are careful in choosing your service provider, as some firms claiming to perform fixed fee conveyancing services might end up charging you with additional fees, such as telephone and postage costs, property searches, and documentation costs.
Enhanced Communication
From a buyer’s perspective, knowing that every step they take might be charged by the conveyancing service will make them think twice about contacting their service provider. This then creates a communication gap between the conveyancer and their customer.
On the other hand, a fixed fee conveyancing service encourages enhanced and worry-free communication between the client and conveyancer. While some firms might think that this can lead to clients calling over and over again, having an open channel is much better than either parties not coming to terms with each other. In this way, the gap between them will be filled with more significant discussions, negotiations, and transaction without extra charges.
Higher Efficiency
Some unscrupulous traditional conveyancing services may deliberately cause delays in order to increase the overall hourly rate they will receive. This is usually done through timesheet padding, overservicing, hoarding of hours, and rounding up telephone call lengths, which can almost be considered as fraudulent activities. While some clients may not notice it at first, it will be recognized inevitably once the clients receive their bill.
Fortunately, if your overall conveyancing quote is fixed on a specific price, the firm will hesitate to commit dishonest activities. Instead of delaying and prolonging your transaction, they’ll work as efficiently as possible to satisfy your needs as their customer.
Guaranteed Pool of Expertise
Legitimate firms offering fixed fee conveyancing in the market are regulated by the Council for Licensed Conveyancers, or your local government involved in this matter. These conveyancers are licensed professionals who can attend to your needs immediately. Before, the conveyancing process only assigns one to two lawyers and conveyancers to oversee the transaction from point A to B.
With fixed fee conveyancing, firms employ better strategies to deal with the process of transferring of your property’s title. You can be assured that you’re getting the best services with their pool of experienced and licensed lawyers, and are receiving the most relevant information and suggestions regarding your property purchase.
Peace of Mind
Summing up all the advantages provided by fixed fee conveyancing, any customer can have peace of mind during this transaction. Clients will be more open to communicate, knowing that their conveyancer isn’t charging them with unnecessary costs. They can plan their budget better with no unexpected charges, and they can expect reliable and efficient service from people with the best expertise in conveyancing.
Conclusion
Fixed fee conveyancing is more than just saving expenses when transferring properties from one entity to another; it also presents the buyer with multiple benefits. Be sure to do your due diligence when searching for a fixed fee conveyancing firm you want to work with in order to get the best services.
