There are plenty of legal processes that you have to complete when selling a property or land. One of these processes is conveyancing. It is imperative to handle these processes the right way as messing up can become a massive issue in the future. Conveyancing refers to the legal transfer of a property or land title from a seller to a buyer. In simple terms, it is a method used to prove that the new buyer has control over the land or property in question.
Conveyancing is essential as it helps a new buyer learn more about the property and any existing arrangements that could jeopardize the title’s conveyance. With the advancement in technology, almost any service and transaction can be done online. Conveyancing is not an exception as far as online service delivery is concerned. So, what does online conveayncing mean?
What is Online Conveyancing?
Online conveayncing is a safe conveyance method that works the same as the conventional conveyancing process but is all done through the internet. It provides buyers and sellers convenient help with the legal processes involved when selling or buying land or property. My Conveyancing Specialist provide thousands of home conveyancing quotes instantly online in seconds.
How Does Online Conveyancing Work?
With the exception that it is done exclusively through the internet, online conveayncing works the same way as the conventional conveyancing process. In this method of conveyancing, you do not get a face-to-face meeting with the conveyancer.
Online conveyancing follows the same procedure as it would when done traditionally. However, all communication is done via the internet or a mobile phone. Through the internet, you can submit all the legal documents required when selling or buying land or property.
Advantages of Online Conveyancing
Online conveyancing offers several notable benefits for both the seller and the buyer. Here are some of the advantages of using an online conveyancer.
- No move, No fee
One of the benefits of working with an online conveyancer is the No completion No fee policy. In simple terms, this policy means that you do not have to pay any legal fees if the land or property sale does not go through. There are plenty of reasons that can lead to the termination of the conveyancing process. This policy ensures that you only pay the legal fees when and if the conveyancing process is successful.
It is important to check the agreement before you get into a deal with the online conveyancer as there are certain transactions where this policy may not apply
- Normally Costs Less
Compared to traditional conveyance process, online conveyancing is normally cheaper. When you use online conveyancing, it is possible to save up to half the money you would pay for a conventional conveyancer’s services.
The majority of online conveyancing firms offer a fixed rate for their services. You can also enjoy great discounts on your deal if you find a reputable online conveyancing firm. Since they work online, these conveyancers can take on multiple jobs, meaning they can afford to give their clients discounts.
Online conveyancing is normally faster compared to conventional conveyancing processes. Undoubtedly, you need a lot of free time to book an appointment and go to a conveyancer’s office in person. Going through all the required paperwork at the office is much slower compared to conducting the process online.
With online conveyancing, you can send or retrieve the necessary documents instantly, making the process quicker. Also, dealing with electronic records eliminates the need for copies and makes minor corrections easier and faster. All these add up to a speedy conveyancing process.
- Upfront Quote
Another advantage of online conveyancing is an upfront quote that makes budgeting easier on your end. The majority of online conveyancers will get you an upfront estimated cost of the conveyancing services. That includes a detailed process and the charges for the whole operation.
Additionally, an online conveyancer would present a terms and conditions agreement that provides information concerning any additional charges that may arise. The document will also indicate the cases and situations that could cause a rise in the conveyancing fees. Lastly, an online conveyancer will get you an estimated figure of the total fees, with additional costs, to help you budget for the whole process.
Disadvantages of using Online Conveyancing
Like any other convenient service, online conveyancing has both advantages and disadvantages. Here are some of the online conveyancing limitations.
- No Face to Face Meeting
Online conveyancing eliminates the need for face-to-face interactions with the conveyancer. Although that has its advantages, some disadvantages may come along. For instance, it can be challenging to know if a conveyancer is genuine or fraudulent through the internet.
An online conveyancing system aims to reduce fraud and increase transparency. However, online communications and remote transactions can unintentionally increase the chances of theft and fraud.
- No Local Office to Visit
Another disadvantage with online conveyancing is the lack of a physical office to visit whenever you have a complaint or a suggestion. Sometimes, a lack of transparency in online dealings can lead to a slow process and time delays. Without a local office to visit, it can be challenging to track your conveyancing process’s progress.
- Lack of Personal Services
As mentioned earlier, the majority of online conveyancers deal with multiple clients simultaneously to allow them to offer lower prices. Even though that can be an advantage for many clients, it can be frustrating for another one, especially if they have a complex issue that needs urgent response.
Online conveyancing offers a cheaper, quicker and convenient conveyance option for every client. If you are a busy individual that has not free time to visit a conveyancer’s office, online conveyancing is the best option for you. With online conveyancing, you can track progress online without needing spare time for a physical office visit.