"Conveyancing Protection Myths"

Those who want to frighten you into employing them for conveyancing services (or real estate agents who get a "kick-back" from referring you to a conveyancing service) often try to tell you that the sky will fall in if you do your own conveyancing. But they would say that wouldn't they?!

 

Yet solicitors/conveyancers can actually increase the chance that something will go wrong. Why? Because conveyancing clerks with a pile of files on their desk may not have time to keep track of them all. Important things can get forgotten, and when they do it is usually the client who loses. All the talk of "conveyancing protection" can turn to dust before your eyes.

 

You don't have to worry about this when you do your own conveyancing, because you only have one file on your desk - your own - and you focus on making sure that nothing goes wrong.

 

If lawyers/conveyancers try to intimidate you with "scare-talk" it is worth asking them their own question - "What if something goes wrong?". 

 

Do they GUARANTEE that nothing will go wrong? And will they reimburse you for the cost of recovering from something that has "gone wrong"?

 

If you ask them about guarantees they will probably sidetrack you with another furphy, by claiming that you are "protected" by "professional indemnity"

The "Professional indemnity protects you"  Myth

Think twice before you fall for the "professional indemnity" furphy.

 

The name says it all - professional indemnity is an insurance policy to "indemnify the professional". It is the lawyer/ conveyancer who is protected (indemnified) - not the client.

 

Clients cannot claim against "professional indemnity" policies. The only potential benefit for a client is that if the client successfully sues the lawyer for negligence and wins, the lawyer can't say he/she does not have the money to pay up. But what are the client's chances of suing the lawyer successfully?

The client must be able to prove lawyer negligence, and in the real world that is so hard to do that most clients accept losses of hundreds or even thousands rather than risk financial meltdown by taking the lawyer to court.

 

Then there is the imbalance of power when suing lawyers. Clients can find themselves confronted by the financial muscle of the insurance industry (which is not known for its eagerness to pay compensation to people).

So don't get sucked into a false sense of comfort by the "professional indemnity" myth.

 

If you are not convinced, put it to the test. Ask a lawyer about how a client makes a claim against the lawyer's professional indemnity policy, and ask to see a copy of the claim form. Expect to be told that there is no such thing. You are then in a position to decide if the "protection" offered by "professional indemnity" is fact or fiction.

 

The GENUINE PROTECTION Principle

Our "Principle of Genuine Protection" `is - AVOID problems rather than fight about them after they have happened.

In the conveyancing environment, this requires:

• actually seeing a house and the environment around it
• being aware of potential problems when you are negotiating
• retaining personal control over your transaction.

DIY conveyancing gives you the opportunity to "do it right", and for that reason we say it is the safer way to go