Fees and Costs to Expect in a Conveyancing Process

Conveyancing is one of the most important aspects to consider before buying or selling a property. However, you need to be aware of the cost associated with the process and if you are a first time home buyer then it is vital that property conveyancing is done right and most of all cost efficient.

Fees for conveyancing vary and mainly depend on the solicitor, the firm and the amount of work to be done. Here are some common conveyancing procedures that may attract fees.

• Contract Reviewing

Solicitor reviews the contract of sale or purchase and then communicates the terms and conditions to the other party. This includes the references to zoning, utility connections, deadlines, purchase price and settlement date, deposit and payment details and matters relating to title.

• Searches

This is the way of gathering important information about a property you intend to buy and the area surrounding it. This includes local searches, drainage search and environmental search. A planning search can also be conducted to show what development is going to take place in the area and an extra cost for the searches to find out whether the property is affected by environmental issues or not.

• Supplying copies of signed documents to the financier

The conveyancer may request a full set of certificates relevant to the property including the contract of sale, transfer of land and title search to help arrange the mortgage. The legal representative witnesses the purchaser signing the mortgage documents.

The other conveyancing procedures that may attract fees include certificates from local councils and other authorities, certificates from government departments, registering documents, stamp duties and taxes, bank fee related to transactions and even photocopying.

The above-mentioned items are all required for the conveyancing process but are not a part of labour component but referred as disbursements.

A lot of conveyancing fees payable for the certificates and payable to government departs are fixed and cannot be negotiated. You should check the quoted fees carefully as some may charge a high amount of photocopying. Apart from all this, there is also an indemnity fee, this fee is to deal with any unforeseen problems that may arise during the conveyancing process.

As you know that the fee varies, so it is important that you ask for a complete breakdown of conveyancing fees from the solicitor in your first consultation. It is also advised that you obtain at least 3 quotes from different firms.

If you are looking for conveyancing quotes, contact P&B Law and compare solicitor fees and also read feedback from previous clients.

If you are looking for a leading Property Law Firm in Melbourne, P&B Law should be your first choice. We have been in this field since 1994 and our list of satisfied and repeat clients speak for our expertise and professionalism in matters concerning