How To Understand Conveyancing Fees

There’s a lot to think about when you are selling your property. One of the first questions you may ask when you call us is:

“How much does conveyancing cost?”

There are no set fees for hiring a Certified Licensed Conveyancing solicitor. Each property transaction is different to varying degrees. We strongly recommend using a licensed conveyancing solicitor or lawyer and always get a number of quotes so you gain and understanding of the range in conveyancing fees. If you can get a service recommendation, even better.
 
Do be aware when choosing to engage a conveyancing solicitor that the lowest price is not a reflection of the best service. Generally, conveyancing fees may range anywhere from $600 at the lowest to as much as $2,500. The final figure is dependent on whether you are buying or selling and what is involved. Searches may uncover issues.
 
 On average conveyancing fees for buying a house may range from $600 to $900. Again each individual case is different.

There is no definitive set price for average conveyancing fees and it’s a difficult question to answer. Depending on your conveyancing needs which are determined by your specific situation, your personal goals and needs and the different parties involved in your transaction, it’s impossible to provide an exact total conveyancing cost immediately.

Providing your conveyancing solicitors don’t uncover anything unusual during your transaction, good conveyancers are able to provide an estimated cost only. Yes, sometimes hiccups occur during your transaction. Unforeseen risks or events do appear, and as such exact costs are provided closer to settlement.

conveyancing licence
solicitors fees for buying a house
  • Jack Smart Avatar

    Really easy to deal with and took the stress out of buying our first home. Very impressed with the level of service we received.

    Jack Smart 04/10/2019
    Calem Koek Avatar

    Our conveyancers in Warragul were great. Communication was excellent and they were very patient with us, making the process easy! We can't recommend them enough

    Calem Koek 03/10/2019
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    Thanks for your service, it was great. 5 Stars. Really enjoying our new home!

    Andres M 26/09/2019
    Luke Carlino Avatar

    Thanks for the service and advice provided. Being able to communicate by phone and online took a lot of stress out of the experience. Appreciated the level professional attention.

    Luke Carlino 29/08/2019
  • Jodie Gahan Avatar

    Deb and Ella were so friendly and their service was affordable and efficient. They were both very prompt with their communication and responsive. So convenient having everything looked after and... read more

    Jodie Gahan 19/08/2019
    Mick Gunn Avatar

    Ella was incredibly helpful with our home buying process, and she went to great lengths to ensure we received the keys on the day of settlement. Really happy with our experience!

    Mick Gunn 27/06/2019
  • Claire Noel Avatar

    Really pleased with our conveyancing settlement process. It was fast and easy. Thanks guys:)

    Claire Noel 20/06/2019
    Sonya Matthews Avatar

    Every interaction has been awesome. The costs were upfront, phone calls returned in a timely manner and we really appreciate the fantastic service provided. The consistent quality of advice needed... read more

    Sonya Matthews 12/06/2019
  • Kelli Warner Avatar

    The whole process from start to finish was very easy and it turned out to be a quick settlement as it was a tight turnaround . They were so professional... read more

    Kelli Warner 12/06/2019
    Lucy Walter Avatar

    Thanks for handling the transfer of our Pakenham property. We are now happily in our new home and everything went exceptionally smoothly. You gave us confidence every step of the... read more

    Lucy Walter 21/05/2019
  • Chriss Smith Avatar

    This is the 5th time we have used their services in buying and selling our properties. They make the conveyancing process smooth and stress free which is much appreciated.

    Chriss Smith 21/05/2019
how much are conveyancing fees

How Is Conveyancing Priced?

It is a standard regulatory practice across Australia to provide a quote under these 3 categories. Average conveyancing fees take into account these areas:
 
  1. Standard Search Fees – Third Party Costs such as Utilities, or costs payable to Council, etc.
  2. Fixed Rate Professional Legal Fee – Conveyancing Works, The Labour, Conveyancers’ Time.
  3. Additional Costs – These may include paying for services outside a “Standard conveyance job” and applicable “Standard Search Fees”.
The above categories determine your final conveyancer fees. Your final conveyancing fee is dependent on the specific labour or work undertaken. There may additional searches required by your conveyancing lawyer which may invoke  additional costs. Conveyancing fees for buying a property generally cost less than selling. The conveyancing works cost is finalised once due diligence is done on your file. Which brings us to the next question.

What Is Due Diligence?

Due diligence is the detective work your conveyancing lawyer undertakes to uncover special circumstances and or risks  that could affect your transaction. Due diligence is vital as any discovered risks will determine specific actions required to protect your unique rights and interests.
 
If the additional work needed falls outside a “standard conveyance job,” added costs and searches may most likely be required. This is a variable outside of the standard conveyance works that can affect your final cost depending on the extent of the additional works needed.
Next, we take a look at:

What Is a Standard Conveyance?

What defines the term a standard conveyance can and does differ from law firm to law firm. Ideally it should be clearly defined and provided in the Appointment Terms and Conditions, as well as listed in the Scope of Work in the Engagement Letter. It’s critical you are satisfied with the terms of the Scope of Work before choosing your preferred conveyancing solicitor.

Scope Of Work For Victorian Buyers

  • Scope of Work includes gathering your instructions on matters relating to the property sale for carefully and professionally preparing the Vendor’s Statement and Contract of Sale.
  • Preparing the Vendor’s Statement and Contract of Sale, liaising and issuing the prepared documents to your Real Estate Agent.
  • Preparation of Section 27 Statement. Obtaining financial details from your financier to complete the Section 27 Statement. The Section 27 Statement is forwarded to you and the Purchaser to sign if requested.
  • Review the drafted Transfer of Land signed by the Purchaser and providing the same to you for your signature.
  • Preparation of the Goods Statement and forwarding to you for signing.Liaising with you and/or your financier to arrange for the discharge of your mortgage at Settlement if and where relevant.
  • Review Settlement Statement and Statement of Adjustments received from Purchaser.
  • Your conveyancing solicitor will organise and book settlement date with the relevant parties.
  • Complete Settlement preparation steps prior to Settlement such as providing your cheque directions to the Purchaser and checking the payout figure from your financier if relevant.
  • Organise for Settlement Agent to attend Settlement. Cost of settlement is quoted in the Search Package Fee.
  • Notify authorities about the sale of your Property. A Notice of Disposition is issued. A post settlement letter along with a copy of the Settlement Statement and the tax invoice will be sent to you together with the Trust Account Statement if that is applicable

Scope Of Work For Victorian Buyers

  • Costs Disclosure Statement: The licensed conveyance or solicitor will confirm the fee for the standard conveyancing procedure, plus fees for any applicable variations. The Costs Disclosure Statement may include those out of pocket expenses such as obtaining certificates, title searches and meter readings
  • Drafting and providing you with the first suite of documents (e.g. Transfer of Land, Duties Forms, Notice of Acquisition and Nomination documents as applicable).
  • Review Section 27 Statement The conveyancer or solicitor will closely review the sale contract, communicating the terms and conditions within the contract to the purchaser. These terms and conditions will include any applicable references to the zoning of the property; the current utility connections, any relevant special conditions which may include specific deadlines such as the deposit and payment date, the purchase price and settlement date and applicable matters relating to title. These matters may include reference to easements, covenants, restrictions and the like. There may be owners corporation matters.
  • Application for a full set of certificates: The solicitor or licensed conveyancer may request a full set of certificates of the purchase property. This is when the Section 32 Statement, or Vendor’s Statement as it’s also known, contains missing or outdated certificates. The buyer must be provided with the Section 32 statement before the sale, containing the specific up to date information about the property title. This information includes zoning, easements, covenants and mortgages. The certificates disclose information regards any unregistered easements, building information regarding any works undertaken in the previous 10 years, the latest owners corporation fees, information from the state road authorities showing if the property has been acquired for road widening, Water Information Statement as well as final inspections and any outstanding orders. Checks for flood levels where applicable
  • Provide the correct applicable signed documents for the Vendor’s solicitors to peruse and sign.
  • Correspond with the Vendor’s conveyancer or solicitor for this transaction. This may include seeking an extension of time for conditions, if necessary, negotiating any applicable settlement adjustments and lastly organising settlement.
  • Liaise with you and/or your financier for funds to be made available for Settlement and provide any necessary documents as requested.
  • Prepare Statement of Adjustments and Settlement Statement and book settlement with the relevant parties to the transaction.
  • Complete Settlement preparation steps on the day of Settlement including obtaining a final Title Search, the cost of which is quoted in the Search Package Fee.
  • Arranging for a Settlement Agent to attend Settlement, the cost of which is quoted in the Search Package Fee.
  • Notify relevant authorities of your purchase of the Property and issue Notice of Acquisition and cheque for payment of any outstanding levies.
  • Send post settlement letter to you together with a copy of the Settlement Statement, our tax invoice and Trust Account Statement (if applicable).

What is a Fixed Professional Legal Fee?

The Fixed Professional Legal Fee is monies paid for the Conveyancing Service as described in the Scope of Work. This particular fee pays for the Conveyancers, solicitors, and backing support’s time, electricity and rent fees. Provided the mandatory works needed for your property fall within the guidelines and explanation of a “Standard Conveyance”, the legal fees will be retained at the fixed rate. They will not change.
 
Mostly clients don’t require “Additional Services” outside the criterion of the scope of “standard searches”.
 
“Additional or extra services” are exactly that – Additional or extra works outside the agreed scope of works.

What Is The Definition Of Additional Services and Work Outside Of The Standard Conveyance?

These are some examples of additional services you may request. Not everyone requires them so they are not included in the standard search and are avaible at an additional cost
 
  • Caveat Lodgement
  • General Power of Attorney drafting and/or review
  • Licence Agreement drafting and / or review
  • Land Contract Review for an Off the Plan property
  • Variation drafting, review and Deed of Rescission if applicable
  • If there are changes to the contract of sale terms and conditions, the vendor’s representative will negotiate in relation to any changes. For example- finance approval. There may be an extension of time needed for the loan approval, or a licence needed for the buyer to occupy the property prior to settlement.
  • Legal advice in regards to the property purchase
what is the section 32 in a conveyancing contract?

What Are Searches?

In simple terms, a Search consists of “requests for information” from third parties for Search Certificates. These may include:
  • Title Search- this identifies Title particulars of ownership details and encumbrances
  • Plan Image - which are the dimensions, gradient and any pertinent physical features of the relevant lot
  • Land Tax Clearance Search- These are salient details of any specific outstanding payment/s of Land Tax which are due to the Office of State Revenue.
The Conveyancer needs this information for carrying out the Due Diligence and Conveyancing Works correctly. Searches are third-party costs and are payable to the authorities.
These expenses are mandatory and are at an additional cost above the Fixed Professional Legal Fee. They are necessary expenses that are unavoidable.

Our Philosophy

Here at South East Conveyancing we are dedicated to providing you with clear transparent communication with all the expertise and experience you would expect of an expensive, top notch law firm.
 
We make it our mission to help our customers reach settlement stress free and as quickly and smoothly as possible. Our years of experience with our in house, dedicated and fully licensed team in Victoria specialise solely in property transactions. We do not outsource your conveyancing to other countries.  You can rest assured the sale, purchase or transfer of what could be one of your most valuable assets will be smooth and stress free!

South East Conveyancing

50 years of results based experience, means we take pride in providing you with a stress free, professional and friendly service.

Let us ensure a smooth transaction when buying or selling your property.

We offer full service conveyancing for your:
Home
Unit
Vacant Block
Strata Title
Commercial Real Estate
Rural Property

Albert St, Warragul Victoria Australia

Albert St, Warragul Victoria Australia

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