Just like when you look for a home, you’re likely to find a wide disparity in the fees sought for conveyancing services. There are so many laws, processes, and paperwork to navigate – how do you know if you are getting a fair deal for your dollar?
Buying a property will likely be the most significant financial decision you make in your life. When looking for help making that decision, you might run into conveyancers at both ends of the spectrum – cheap, unqualified conveyancers looking to make a quick buck, and overpriced, overworked professionals who stand to miss crucial details.
First up, let’s take a look at conveyancing and what’s involved in its practice and application.
What is conveyancing and why can’t I do it myself?
Conveyancing is a highly specialised field of law that covers transferring property from one party to another. There are typically 3 stages to this process, including:
- Preparation of sale contract
- Exchange of contract
- Final settlement
Conveyancing is a specialised field that conversely also extends into the fields of finance, building and construction, administration, investigative research, and of course, property. A quality conveyancer will have a deep knowledge of these fields.
Only lawyers and licensed conveyancers can perform conveyancing duties. While some lawyers practice as conveyancers, not all conveyancers are lawyers. This is because specialised conveyancers are highly specialised in what they do. They only practice conveyancing, and thus, can give you a more specialised service.
What do conveyancing fees cover?
Conveyancing fees can cover any and all of the below common tasks performed by a conveyancer:
- Title search and other types of information gathering
- Assessing the valuation of the house
- Obtaining certificates for rates and council
- Detailed preparation, review, and lodgement of contracts
- Preparation of planning restrictions and zoning regulations
- Organisation of property inspections
- Organisation of finances
- Stamp duty processes
- Ensuring that everything is taken care of on settlement day
There are many nuances to conveyancing that will depend on the situation, and whether the conveyancer is working for the buyer or seller. For a more accurate understanding of what a conveyancer can do for you, contact Complete Conveyancing solutions.
How much does conveyancing cost in Victoria?
You can expect to pay between $600 and $1400 for conveyancing in Victoria. This number varies widely and will depend on:
- The type of property
- The value of the property
- Your choice of conveyancer
Fortunately, as a consumer, you are entitled to protections around the disclosement of fees for conveyancing in Victoria. Conveyancers have to give their fees upfront, if they can at the start of a relationship with a client. If the conveyancing matter makes it a challenge to accurately quote, then the conveyancer must detail item-by-item how they will calculate their fees.
There are no hard regulations surrounding conveyancing fees in Victoria, so conveyancers are free to charge what they like with little transparency. It always pays to go with a conveyancer you can trust – someone who offers full transparency around what they are doing, why they are doing it, and how much it will cost.
Questions to ask your conveyancer about fees
Conveyancing can be complex, and you should always ask questions of your conveyancer. Here are some key questions to ask about fees in your initial meeting:
- Can you provide a list of fees and services?
- When do you take your fee?
- How much do you charge for taking calls and other admin costs?
If you’re looking for transparency and professionalism in equal measure, you need Complete Conveyancing Solutions. Our team has decades of combined conveyancing experience, and will work with you to build trust in every matter.
