How Much Do You pay for Conveyancing

Discussion in 'Legal Issues' started by Terry_w, 2nd Mar, 2014.

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How much do you pay for resi conveyancing for purchase excluding disbursements/GST

Poll closed 2nd Mar, 2015.
  1. $800 or less

    29.3%
  2. $900

    13.8%
  3. $1000

    25.2%
  4. $1200 or more

    33.3%
Multiple votes are allowed.
  1. Paul@PFI

    Paul@PFI Tax, SMSF & Planning

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    Lawyers, convenyances and other professionals charge a fee for the services they provide. No law society attempts to set or regulate prices as this would violate laws regarding collusion, price fixing, price maintenance, market forces etc... State and Commonwealth. So the "scale" fee may be $,000's and the market rate is $1,200. That's capitalism. But think Caveat Emptor !

    I'm always concerned that a comparison of prices should be based on more than just the price. This can be misleading eg:
    - + Disbusements and these include inflated on-costs and are not specified
    - Card surcharges
    - "Plus GST"...A sure fire way to identify a shonk. They doent even understand consumer law which requires all prices to be GST inclusive without exception.
    - An assumption that no face to face meeting time is included.
    - A very high rate for additional advice, queries etc

    However by far the greatest concern (and I'm not a lawyer so I'm happy to have arrows fired at me) is attempting to compare lawyers and conveyancers. Sure they both appear to do the same job. However when it all goes wrong only one of them is qualified to address a resolution. Only one of them can intiate legal action, send a demand (and enforce it) and to provide advice on the ways to resolve a concern. Its a bit like asking a company CPA financial controller to give tax advice.

    Conveyancing is just the means of settling a contract so the buyer achieves title. So it stands to reason only someone who is legally qualified to write a contract, amend a contract and to enforce contract terms should be engaged. This doesnt mean everyone "needs" a lawyer to do conveyancing. It just explains why a conveyancer should be much cheaper than a lawyer. The low price should recognise the lack of LEGAL practicing qualifications and the user of such services should understand the high cost of then instructing another party to start from scratch when a issue does arise.

    But I also woudnt use a lawyer who only infrequently does conveyancing. Lawyers that focus and specialise on conveyancing and advertise in property mags are often low cost, competitive and dedictated to this line of work. But they can also get the school experience kid over involved too so do your homework.

    My mate had a law firm (Packer something...LOL he still calls them Packa AHoles) settle his sale of his sub div property. Four years later his council insisted he had to pay unpaid rates for the back house or they were going to put a charge over title but he was living in the front. Yep - He was effectively living in his neighbours property and paying that persons rates and guess who had a trail of debt ?? Thank God same bank acted for both mortgages and understood issues. His lawyer had made a mess of it. The Law Society appointed another lawyer to fix it !! No cost.
     
  2. Jamie M

    Jamie M Mortgage Broker - Oz Wide

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    The norm in Canberra is around the $1000 - $1500 mark.

    You'll get the odd firm undercutting everyone - and they often end up being inundated with work and can't keep up with demand.

    One of the local firms I recommend is a bit more expensive than others but they're extremely efficient and diligent and I've never had any issues with them.

    Cheers

    Jamie
     
  3. Corey Batt

    Corey Batt Finance Broker

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    Adelaide, South Australia
    I pay around $500+ disbursements.
     
  4. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Yup. Those fees sound familiar, that's why I no longer use that soli (he has retired now) & I am a little less naive ;)
     
  5. Brady

    Brady Big 4 Banker

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    My clients pay between $500-600+GST I have a list of local conveyancers that a recommend to them.
     
  6. bez23

    bez23 Member

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    Adelaide, SA
    600 inclusive of GST for me for everything :)
     
  7. santaslayer

    santaslayer Member

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    Sydney, NSW
    $1200 in Sydney and $990 in QLD. Both are lawyers
     
  8. MorganConvey

    MorganConvey Owner, Morgan Conveyancin

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    2nd Mar, 2014
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    Location:
    Melbourne, Victoria
    Remember that in this industry you do get what you pay for. There are a lot of things that can go wrong when buying a Property so you really do need someone who knows what they are doing.
     
  9. Terry_w

    Terry_w Member

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    Sydney, NSW
    Thanks for all the replies above. Some good information there.

    Conveyancing is one of the more risky areas for lawyers. In terms of claims on insurance it is the area with the highest claims which perhaps means there is greater potential for things to go wrong. e.g if doing criminal law and you stuff up the crim may get a few more years in prison - who cares, but if you stuff up a conveyancing matter someone could lose hundreds of thousands of dollars.

    Therefore it has to be priced accordingly because of the risk. I would think it reasonable of charging around the $1100 mark including GST and disbursements on top of this - especially for NSW. VIC generally seems cheaper for some reason unknown to me, but some of the prices quoted are extremely cheap and you would imagine the volume they would be doing to be able to make a profit.
     
  10. dex

    dex Teriyaki

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    Not bad for half a days work :p
     
  11. Terry_w

    Terry_w Member

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    probably 8 to 10 hours work.
     
  12. RPI

    RPI Member

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    And that's if it goes smoothly.
     
  13. perthguy

    perthguy Member

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    My last 2 purchases in Perth I did my own conveyancing. It's pretty easy if you know what you are doing but pretty easy to get wrong if you don't. Note that these were very straightforward purchases with nothing complicated about them at all.
     
  14. Angel13

    Angel13 Member

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    ACT
    I paid $1100 including searches + $250 sundries (which they refund if not all used up) in Canberra. It was a sale late last year.
     
  15. LexCon

    LexCon Lexus Conveyancing

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    14th Feb, 2014
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    Location:
    Melbourne Victoria
    Conveyancing Costs

    I am a conveyaner based in Melbourne CBD our fee are;

    Sale Apartment/Unit $895 inc GST plus Disbursements
    House or Vacant Land $795 inc GST plus Disbursements

    Purchase Apartment/Unit $895 inc GST plus Disbursements
    House or Vacant Land $795 inc GST plus Disbursements


    Please note Conveyacers are able to practice in every state except Queensland.
     
  16. Mitch1

    Mitch1 Member

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    I paid $1386 plus searches gst incl. to lawyer in qld. they were fantastic, lots of phonecalls from them to make sure all was correct and included a name change on contract along with change to purchase price. would use again.
     
  17. Aaron_C

    Aaron_C Finance Broker

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    Melbourne, Victoria
    Friend of mine was charged $4k for a conveyancing on a commercial property around $900k. Mid-tier firm.
     
  18. oc1

    oc1 Developer

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    About $1000 on average. Solicitor.
     
  19. Truly Exotic

    Truly Exotic Property Deal Finder

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    I like to keep my costs low, but I also get volume discounts

    NSW: $860-$890
    VIC: $495
    QLD: $660
    SA: $495
     
  20. Terry_w

    Terry_w Member

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    Volume discounts? Do you buy in lots of 5?