Disbursements ...

[blueskymine]

Hi

I was wondering if there is a volatility in disbursements charged by lawyer to IP buyer?

So here are mine, roughly
First letter with costs:

Land & Prop info office for Final search $25 + 2.5 gst
Property inqu w/ var govments author: $350 + 5 gst
Settlement Agent's fee: $65 + 6.5 gst (Other conveyancers I have seen charge $60+gst)
Office of St Rev for stamping fee: $25.8 + 2.58 gst (other conveyancer charge $7)

Plus B&P inspection $500 that I paid myself direct! (took 2 times for them to react to this and note that I paid them all the above less the B&P)

then the adjusted invoice comes as:
Local gov searches : $444 + 3.64 gst ( I have seen max $350 elsewhere)
Final search: $14.21 + 1.43 gst
Suddenly I note that the last bill adjusted ie: with additional cost gives me more cost, and less GST!
Stamping fee: $22.72 + 2.28 gst, this is different too from the first bill
Settlement agent fee: same
Copy for mortgagee: 11 (forget about mentioning it is $10 + 1 gst)
Postage, stat, bank fees, photostating: $66 (which is they state GST elsewhere separately, they should note it here to and separately, anyway that it just to increase my ..)

So I note that the final invoice bill me less gst in local gov and search than before, that all is charged more and sometimes over 3 times more than other will charges as I can see online.

It looks like some are doing well inflating disbursements!

Altogether a simple transfer for me will cost me: $lawyer fee (oh, sorry, $ plus gst! as found out in the last bill)... I believed it was compulsory to state ones's fee inclusive of GST! mainly if Not claimable!
and $100 + gst in 'acting for you on mortgage' : what the heck!
and $637.72 of cost that includes gst here and reduced gst there ....
GOD!

 

[Terry_w]

Disbursements are fees that are incurred on your behalf and you are reimbursing the lawyer for.

 

[RPI]

Varies according to council but no mark up. Also varies with the property, eg do you need main roads search and railways search.

 

[blueskymine]

that is what I am wondering: Is there a mark up? and you are saying no. So then it is about Council
But my lawyer charges me one fee for one thing once, and the same thing comes up with a different amount (less! sometimes) than before,....

It would be interested to know what are the disbursements for the Wyong Council! if anybody?
If there is no mark up, my street is in a quiet street, well away from main roads or railway or shopping centre, ie: residential, then I found my disbursements excessive and I don't understand why they come up with different gst or amount in 2 different times (I refer to various local gov searches, stamping fee..)

Thank you RPI

 

[Scott No Mates]

Check the Wyong council website for fees & charges - they may actually be set by the state govt.

Not all fees or charges attract GST, it is a fact of life. The lawyer should have advised that the figures are approximate.

 

[Terry_w]

Some solicitors also use companies which do all the searches and add their own mark up. eg. ordering a title search may be $12 if done with land titles but a search company may charge $15.

 

[RPI]

Some solicitors also use companies which do all the searches and add their own mark up. eg. ordering a title search may be $12 if done with land titles but a search company may charge $15.

Yep. We use SAI Global and whatever they charge us is what we charge clients, but works out cheaper for clients anyway, quicker than doing individual council, electricity, state searches etc. Would have to charge more professional fees if we did it individually.

Fees go up to and we often don't get told until they do.

 

[Terry_w]

Yep. We use SAI Global and whatever they charge us is what we charge clients, but works out cheaper for clients anyway, quicker than doing individual council, electricity, state searches etc. Would have to charge more professional fees if we did it individually.

Fees go up to and we often don't get told until they do.

Yep, that is the company I have used in the past. It saves time as it is quicker to process and you don't have to go search for addresses of councils etc etc.

 

[blueskymine]

1/ As such, how much will you pay for the items I have listed in my first post of this thread?

2/ What I found weird, (too) is that when he sent me the last statement of costs, I found discrepancies, like, extracting from my first post:

1st list of disbursement gives (extract):
Land & Prop info office for Final search $25 + 2.5 gst
Property inqu w/ var govments author: $350 + 5 gst
Office of St Rev for stamping fee: $25.8 + 2.58 gst

2nd list of disbursement gives (extract):
Local gov searches : $444 + 3.64 gst
Final search: $14.21 + 1.43 gst
That is using Land & Property information NSW
Stamping fee: $22.72 + 2.28 gst, this is different too from the first bill
That is using SAI Global

PS: Settlement fee agent $65+ gst is using Hind & Associates
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You can see that the last bill adjusted additional cost gives me more cost, and less GST for the same items!
Is it so that the first statement was an approximate?

See other cost in my first post if you could let me know how much you are usually charged (NSW)
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In fact, if disbursement have a good commission margin, that would be the last time I use this lawyer.

Thank you