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Thread: Cost of Conveyancing?
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2nd July 2018, 05:02 PM #1Member
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Cost of Conveyancing?
Could anyone who's sold a property in, say, the last 12 months or so advise how much they paid for conveyancing please? I'm in NSW, but information from any state would give a guideline. Maybe WA is a bit different?
We've been quoted just over $3000 by the local (country town - no fancy CBD overheads) solicitor (plus disbursements, that's just his fee only), but online searches suggest a range of $1000 (for a conveyancer?) to $2000 (for a lawyer?) might be reasonable.
Nothing unusual or complicated about our situation AFAIK. It's Torrens title (is there any old system title left?); husband and wife as joint tenants (no family trusts or companies to complicate matters); property is unencumbered (no mortgages to handle or bank to deal with); standard REI/Law Society contract (we haven't asked for any special conditions or clauses); no land tax applicable (exempt primary residence); I've obtained and supplied the we-are-Australian ATO certificates; payment on settlement to one account only (no multiple cheques/transfers to handle); council and water rates are up to date (so nothing to chase there).
So am I living in the past - easy to do when you're retired - or is this a bit over the top?
Thanks,
Mark
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2nd July 2018 05:02 PM # ADSGoogle Adsense Advertisement
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2nd July 2018, 05:11 PM #2
Definitely too expensive Mark. Should be around $1000-1500 I think, using a conveyancer - it's all they do. Doesn't matter where the conveyancer is - they can always express post documents to you for signing.
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2nd July 2018, 05:12 PM #3
My wife works in RE in the Blue Mountains NSW and she says between $700-1000 is typical for a house sale conveyancing.
So you might want to get another quote!
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2nd July 2018, 05:23 PM #4
We paid around $1000 last time we sold a house. That was 3-4 years ago.
Those were the droids I was looking for.
https://autoblastgates.com.au
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2nd July 2018, 05:29 PM #5
We are in the process of buying and selling in Vic. Using a solicitor it's costing us about $1300 each way. Conveyancers are usually a bit cheaper.
TM
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2nd July 2018, 06:15 PM #6GOLD MEMBER
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We sold and bought just over 12 months ago. It was about $800 for each transaction plus disbursements through a solicitor. Both transactions were straight forward as we owned the one sold and therefore paid cash for the new place.
Hope that helps
It was a painless process as we had to go to the office only once - to sign the papers which took all of 10 minutes.Last edited by Chesand; 3rd July 2018 at 08:03 AM. Reason: Added extra comment
Tom
"It's good enough" is low aim
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2nd July 2018, 06:17 PM #7Member
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Not that recent - 2003 - but i handled the conveyancing for my mother's house in South Grafton, which was old title, myself from Queensland. All the documents are available online and i filled in the blanks and submitted them to the appropriate court in Sydney. I have no legal experience but have experience of lots of Government forms. OH
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2nd July 2018, 06:19 PM #8
We did a sale and purchase last February and used the same conveyancer for both transactions.
The fees were as follows:
Sale: $930
Purchase: $1050
Hope this helps.To grow old is inevitable.... To grow up is optional
Confidence, the feeling you have before you fully understand the situation.
What could possibly go wrong.
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2nd July 2018, 06:41 PM #9
that seems a tad on the very high side . Our cost to use a solicitor with "fancy CBD overheads" was about 80% of that
Nothing unusual or complicated about our situation AFAIK. It's Torrens title (is there any old system title left?); husband and wife as joint tenants (no family trusts or companies to complicate matters); property is unencumbered (no mortgages to handle or bank to deal with); standard REI/Law Society contract (we haven't asked for any special conditions or clauses); no land tax applicable (exempt primary residence); I've obtained and supplied the we-are-Australian ATO certificates; payment on settlement to one account only (no multiple cheques/transfers to handle); council and water rates are up to date (so nothing to chase there).
also, although council and water rates may be up to date there is still a proportionate process for the period before / after the transfer of title.regards from Alberta, Canada
ian
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2nd July 2018, 08:03 PM #10GOLD MEMBER
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If you are not happy with the cost you can do it yourself.
I have done the conveyancing for 6 sales/purchases myself.
I usually purchase the conveyancing kit from the Law Consumers Association. It includes back up advice from a solicitor if you feel you need it. On average, I have made one phone call for advice per transaction.
There is one proviso: The last one I did was November 2017. There has been a massive change since then to fully online settlements. Maybe that has made it more difficult, but it’s equally likely it has made it easier to DIY.
FWIW: the first one I did was back in 87, and it was a lot of footwork around town to all the agencies, and to the actual settlement. Quite a lot of legwork. By the latest one all the preparatory work was done online so very quick, but we still chose to attend settlement, register the transfer and pay stamp duty in person - not really necessary but I just wanted to see it all done and dusted in person before we left Sydney.
I guess in terms of time involved : preparatory work typically 4 hours. Maybe 3 for a professional.
Settlement and later : 2 hours. Usually done by a settlement agent.
So whatever that is worth to you.
Plus you still have to pay for the searches. I think it was average $14 per search.
Plus the kit cost about $120.
So I think $1000 by a conveyancer is probably better then doing it yourself.
Cheers
ArronApologies for unnoticed autocomplete errors.
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2nd July 2018, 08:11 PM #11GOLD MEMBER
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Apologies for unnoticed autocomplete errors.
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2nd July 2018, 09:06 PM #12GOLD MEMBER
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We have bought and sold several times over the last 20 years and have used a conveyancer and also done it ourselves. The last sale was 5 years ago. From memory the highest amount we have paid would be circa $800.
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2nd July 2018, 11:42 PM #13Member
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Hi, I am a retired Solicitor in NSW and the going rates around the traps is around the $1,000.00 mark (plus disbursements) for a Torrens Title sale and/or purchase. The quote at $3,000.00 seems to be on the high side of the equation. Shop around and get some other quotes. In fact the electronic process has made it faster and easier.
Regards
Router
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3rd July 2018, 08:10 AM #14SENIOR MEMBER
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DIY is a good cost saving but I had an issue where the solicitor for the buyers did everything he could to make settlement fail. Ended ok after I contacted the buyers and pointed out the paperwork their solicitor stuffed up (he was telling the buyers it was me who stuffed up) that would have prevented settlement going ahead. But still too stressful.
When we bought again I just paid to have someone do it.
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3rd July 2018, 06:47 PM #15
even with vendor disclosure?
I don't get your last point re trusting the vendor in respect to the land tax clearance certificate. The certificate is issued by State Revenue, not the vendor. I would have thought that privacy issues would mean that only the vendor could ask for a clearance certificate. Is your experience different?regards from Alberta, Canada
ian
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