Conveyancing really is a very competitive market. You hear often on the radio and see in the newspaper and on the internet really quite cheap conveyancing quotes and there are some key things that you just need to be aware of when getting a quote for conveyancing.
There are three key aspects of any quote that you want to be pay attention to:
- There are the professional fees – these are the fees that lawyers charge for all the running around the lawyer is doing on your behalf.
- On top of that they charge GST, a government tax that is unavoidable.
- Third part are the searches and outlays. So many times we are seeing that quotes do not include searches and people are caught by surprise when the fees for the searches come in and they are far more than what they had thought so it is really important to get a detailed quote to make sure that you have got all of the information and you know exactly what you are up for and what you have to pay for your conveyancing fees.
In addition to the legal conveyancing fees are other costs which you need to keep in mind:
- Registration costs associated with registering the mortgage and transfer documents – these will usually be built into any finance provided by your bank;
- Registration costs to release the mortgage are paid by the seller and adjusted at settlement;
- Building and pest inspections;
- Survey costs;
- Valuation fees may be charged by your bank;
- Transfer duty is payable by the buyer on settlement;
- Adjustments are made for local council rates, water and / or body corporate levies at settlement.
To obtain a detailed breakdown of the fees you can expect to incur in your matter, please contact our office on (07) 3343 9522 or (07) 5446 1745 or through our contact us service here.