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?”

How To Understand Conveyancing Fees

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.
 
Here are 3 good resources:
1) What does the Section 32 cover?
3) Canstar’s Guide to Conveyancing

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 a exact total conveyancer fee cost immediately.

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

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How Are Conveyancing Services Priced?

It is a standard regulatory practice across Australia to provide a quote under these 3 conveyancing services 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 the conveyancing services 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 Sellers

Scope Of Work For Victorian Buyers

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
 
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What Are Searches?

In simple terms, a Search consists of “requests for information” from third parties for Search Certificates. These may include:
The Conveyancer needs this information for carrying out the Due Diligence and Conveyancing Works correctly. Searches are those third-party costs involved with conveyancing fees 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 of conveyancing fees 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

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