How To Choose A Conveyancer
For most people who can afford to buy their own house or apartment, this major investment will most likely be the most valuable asset we may ever own. The hours spent dreaming of the perfect home in the “burbs”, the chic inner city apartment, the tree change small acreage farmlet, or even that business becomes the reality. Choosing a conveyancer is an integral part of the transaction. Not sure what conveyancing is? Here’s a breakdown of what conveyancing is.
The Australian Dream
These valuable “assets” are part of the Australian dream, to own our own homes which we fall in love with. Our bricks and weatherboard homes mean so much to us! We invest a great deal of energy in renovating and decorating our homes, making them our space to relax and create dreams in…to raise families, grow old together, plan big adventures, start new businesses and a whole lot more.
Appoint A Trusted Team
No doubt you have carefully saved money every month, and gone without to buy your first home. Maybe you have decided to upsize to a larger family residence because the family is growing. Whatever the reason buying and selling property can be all sorts of nervewracking. By ensuring you gather a trusted team of professionals to support you, you can reduce your anxiety levels in knowing that a valid title is being transferred in a timely manner.
By doing your research, asking for recommendations, you can feel confident that when you place your transaction in the hands of a conveyancing solicitor that you can trust, the process will be looked after properly.
Are Conveyancing Fees Regulated In Victoria?
In Victoria currently conveyancing fees are not regulated. Consumer Affairs Victoria outlines the legal conveyancing fee disclosure requirements:
1) Conveyancers are required to provide their fees upfront at the beginning of the client representation.
If the conveyancer is unable to provide transparent upfront costs, they are legally required to detail how they calculate their fees. They may be unable to provide an upfront fee if there are particular or unusual requirements.
2) The licensed conveyancer or solicitor must provide the clients with invoices, stating when and how invoices will be provided.
In Melbourne and surrounding country Victoria, conveyancing works fees may range from $600 to $1500. The fees charged are based on the type of property, the value of the property, disbursements and if you appoint a conveyancer or a solicitor. Disbursement costs are incurred by the conveyancer as they research your property for title searches or council requirements.
What Is Conveyancing?
The definition of conveyancing is: When you transfer a property from one individual to another, the administrative process behind the scenes is known as conveyancing.
Qualified solicitors or licensed conveyancers ensure the property seller has a valid title that can be passed to the purchaser on payment of the agreed upon price. The qualified professionals manage the process of this transfer whether it be directly from the seller or via the sellers bank.
The importance of this process being carried out correctly is paramount. Only when this transfer has been undertaken, can the person who has paid for the property be fully confident of having full ownership rights. The ownership rights cannot be challenged at any time in the future.
This is covered in our How to Understand the Section 32 Article
When to Choose a Licensed Conveyancing or Solicitor
Okay, how do you choose a conveyancer? Ideally as soon as you decide to buy or sell a property, you should appoint a licensed conveyancer. But why should you take this step so soon? It makes sense to create and build your team sooner than later to help you at every step of the way from “how to” questions to reducing any risks to you at any stage of the process. With many professionals offering fixed price conveyancing, it makes sense to find a conveyancer right from the beginning, using them as a resource throughout the selling process
Right from the beginning there are a number of formalities to be completed for your asset protection. As your licensed conveyancer is there to protect your interests and solve any issues that may arise, the more engagement you have with them, the better.
It’s best you don’t leave things to the last minute. You want your conveyancer to fully prepared when the transaction gets underway. The necessary paperwork takes time to be drawn up and being prepared in advance helps to avoid any nasty last minute legal problems cropping up. Plus being prepared keeps the cost of conveyancing works as low as possible.
The Benefits of an Online Service
Everyone is busy these days and often there simply isn’t enough time in the day! If you are pressed for time and familiar with navigating the online world, you may prefer to use a conveyance who conducts their business online. In choosing a conveyancer for your (busy life) needs, make sure they offer an online service.
There is no doubt about it, current technology definitely speeds the process along! No taking half a day off, or rushing out the office door to get to the conveyancers office to deliver the necessary paperwork.
Let your property transaction be relatively stress free communicating via email by choosing a conveyancer who is prompt in their communications. The benefit to you is being able to track the progress of your transaction online. You can easily go back through emails to find the relevant conversation. Another bonus, online conveyancing services are often faster and more responsive to clients needs. Many are available 24 hours a day.
Cost of Conveyancing
The cost of conveyancing fees for buying or selling a property can add up so there are advantages in keeping the cost of conveyancing as low as possible without compromising the quality of the service.
By choosing a conveyancer offering fixed price fees for your property transaction, you are ensuring you won’t be surprised with hidden charges when it comes to billing time.
Benefit from the Experience of Others
We completely understand buying and selling property can sometimes be a stressful experience especially when it’s your first time and all your hopes and dreams are pinned on this life changing move!
So, how do you find a conveyancer who is a reliable and experienced professional who hasn’t done some weekend course and hung up his shingle? It’s a great question! Talk to other sellers and purchasers about their recent property transaction experiences and get their recommendations. This can be a big help in deciding on and choosing a conveyancer to use for your conveyancing works.
What if you don’t know anyone though? Online reviews are a great place to start. People love leaving online reviews of their experiences these days. These can help you find out very quickly if a firm offers a an excellent friendly conveyancing service.
We are here to help answer your questions every step of the way, hold your hand if needs be, and use our considerable knowledge and expertise in managing and protecting you from beginning to end.