Is there any difference in using a conveyancer rather than a solicitor to handle legal work in property purchases? which is more advisable to use?
Thanks
I've done both.
About the only difference is the cost (conveyancers are cheaper), but I haven't needed a curly legal ruling so far.
It's a tax deductible expense, so if you feel more protected using the solicitor, then do that.
Hi Faith
As an investor you want to build a relationship with a solicitor. Maybe you should start now rather than later…
Happy Investing
L.A Aussie wrote:I've done both.About the only difference is the cost (conveyancers are cheaper), but I haven't needed a curly legal ruling so far.
It's a tax deductible expense, so if you feel more protected using the solicitor, then do that.
Is this the case? I was told that legal expenses were not deductible, see this page from the ATO website. You'll have to scroll down a bit to find the approriate passage…
http://www.ato.gov.au/taxprofessionals/content.asp?doc=/Content/76012.htm&page=12&H12
Hi
There has been an in-depth discussion on this topic before. Just do a search in the forum and you should be able to find it.
Conveyancers have experience in doing the routine paperwork and are cheaper than solicitors. However, if you require legal advise, solicitors are the ones who are legally permitted and qualified to give them to you. Of course, they cost a lot more too.
Regards
Daniel Lee
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