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. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
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    Location:
    Sydney NSW
    RPI, I was not aware Qld did not have paper CT. This is going to be something new in NSW and I am aware that LPI here are still meeting with other bodies with regard to CoRD Holders Consents to consider the risk management implications where there is no paper CT to hand over.

    Apparently it has been established that in place of the paper CT, an electronic CoRD Holder Conent must be provided by the discharging bank without which apparently again, there is a big loophole and the risk of fraud that is not evident when a paper CT is handed over at settlement.

    And in view of the above and as I said "what will you soon be paying for conveyancing" (in NSW that is).

    I don't think the banks will be giving any thing away for free. Add to that the cost of PEXA fees which I mentioned previously.

    Anyway I am just speculating at moment, when e-conveyancing takes off here whatever the cost we will just have to wear it.

    Oh let me rephrase that "you will all have to wear it".

    eecho, conveyancing in SA is a little bit different and I can see how it would not be as costly as for example your Form 1, Vendor's Statement which the vendor has to provide and fill out himself we actually have to order it from council and can cost up to $90.00, it is similar to our S149. So we have extra costs in NSW.

    Fleur
     
  2. Family Man

    Family Man Member

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    31st Jul, 2014
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    Location:
    Rockhampton, QLD
    KRG Conveyancing $980 + searches ($1314 all up)
    so far so good.
     
  3. Level3

    Level3 Member

    Joined:
    18th Jun, 2011
    Messages:
    11
    Location:
    Sydney, NSW
  4. Jaggannath

    Jaggannath Member

    Joined:
    25th Oct, 2009
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    744
    Location:
    Newcastle, ex. Melb, Adl, Canberra
    Just over $1000 incl disbursements in Canberra, about $700 in Adelaide twice IIRC
     
  5. Hypnotic Cat

    Hypnotic Cat Member

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    8th Apr, 2013
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    85
    Location:
    Adelaide, SA
    Paid $630 on sale and $630 on purchase in SA. They did a good job and were very good to deal with.
     
  6. Colin Rice

    Colin Rice Perth Mortgage Broker

    Joined:
    10th May, 2011
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    Location:
    Perth WA
    In WA works on a sliding scale similar to stamp duty. Typically settlement agents give anywhere from nothing up to 40% off. Should be able to google a schedule of fees.

    I refer clients to Mellisa Dixon from MDH Legal. They will match any qoute and she is a property lawyer as well. She comments on here from time to time.

    Havent had any complaints in the last three years so far either.
     
  7. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
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    Location:
    Sydney NSW
    Hi all (happy new year, been a while)

    After reading Colin Rice's comment I suppose it all comes down to preference.

    What's the point of matching a price. You could probably use a price as a tool to get your preferred conveyance/solicitor on board to do your conveyance.

    EG. If Myer is selling a toaster cheaper than David Jones and David Jones says I will match it what's the point. Just buy it from Myer who offered it at the cheaper price in the first place. However you may like the service at David Jones better than Myer's and you may prefer to reward David Jones so you use the cheaper price quoted as a tool to get David Jones to sell it to you at the same cheaper price as Myer.

    I think caution should be taken with an all up fixed fee as you may find some don't do all of the searches. I always quote my more than reasonable professional fee plus costs incurred like searches etc. and for a sale costs incurred for documents that have to be attached to a contract. I don't charge disbursements such as postage etc. just costs incurred. All I am saying is that I am not limited to conduct necessary searches as my fee is not eaten away because I offered a fixed fee. Any way I find it insulting to get a quote from me and then use it to get another conveyancer to match it.

    Talking about matching prices, I recently had a purchaser who was convinced by the agent to make the first offer on a property she was interested in.

    Well, we can all guess what happened, the agent then informed her there had been higher offers. She went higher three more times and then pulled the plug.

    My purchaser said the vendor owes her dinner as it was she that caused the price to escalate by making higher offers three times. Although she could have gone further, as she had the funds, she decided not to because she did not like the game they were playing and said:

    "Next time that happens I will just say to the agent I will match it".

    I wonder if any one has tried that? What would the agent do in this situation, surely the first bidder would win, would they?

    Regards, Fleur
     
  8. willister

    willister Member

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    11th Mar, 2011
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    283
    Location:
    Sydney, NSW
    I'm more curious as to what a more expensive Conveyance person give you in terms of value add? I've used (on behalf of family) expensive $1.5K lawyers to $550 inc GST lawyers - neither were great.
     
  9. chilliblue

    chilliblue Member

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    29th Jul, 2010
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    1,685
    Location:
    AUstralia
    We are in NSW and use a well known conveyancer for both buying and selling. Average is $1,200 per property over the past few years.

    Properties range from strata to residential to mix use.

    Have the relationship that he reviews all contracts for free even if we do not proceed - normally within 24 hours.
     
  10. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
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    Location:
    Sydney NSW
    I don't really know what the difference is as the work involved for any particular matter is the same for a sale or purchase.

    Sometimes a conveyance can have issues which can take up more of the professionals time in particular negotiating the terms and in this regard a solicitor who has not quoted you a fixed professional fee would have the clock running so probably the most important thing is to get a quote with a fixed professional fee.

    As to how good they are, weeell you just have to find one you like and stick with them.
     
  11. willister

    willister Member

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    Location:
    Sydney, NSW
    In the properties I have conducted (mostly for family) they just seem like a commodity service exercise, therefore, I'd just stick to the cheaper ones.
     
  12. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
    Messages:
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    Location:
    Sydney NSW
    My thoughts are that it comes to what overheads a professional has. A solicitor with secretaries, receptionists, rent, paying super for your staff would definitely have to charge enough to meet his overhead costs.

    However I also think that if you find someone that your happy and confident with you should stay with them even if they are not the cheapest.

    I know what you are talking about though I recently received a contract from a firm of solicitors and the front page of the contract was marked "Without the Intervention of an Agent",but, my client was introduced to the property by an agent and this agent is also holding open house inspections for the property. To put the icing on the cake under Special Conditions was a clause that the purchaser warrants they were not introduced to the property by an agent other than that marked on the front page and will indemnify the vendor against another agent claiming commission. As well the car space was not marked and neither was the storage cage added. This sort of thing really angers me as I then have to waste time requesting amendments to the contract and they have waste time replying. If they do their job properly in the first place may be those that start the clock would not need to charge their clients as much as .....I can assure you they will be charging you for the time spent replying to requested amendments to the contract. And this is just one example, I could list a lot more.

    Good luck finding someone your happy with. Personally I enjoy staying anonymous so I can speak my mind.
     
  13. CHAOS

    CHAOS Member

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    Q. Should conveyancers look after their repeat business clients?
     
  14. luce.rocks

    luce.rocks Member

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    I pay $2000, give or take, depending on how many searches etc., to our conveyancer and she's worth every cent.
     
  15. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
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    Location:
    Sydney NSW
    Hey CAOS why not.

    Just a reminder you can expect conveyancing fees to go up with the introduction of E conveyancing.

    You will have to be formally VOI'ed e.g. verification of identity obtained. Either by Post Office or by an approved firm. The firm will call upon you, take your photo and photo of ID documents and this service is not free. A conveyancer will pay an annual fee to the post office; and a fee for each ID by the approved and recognised firm. And guess who is going to be the end payer.....the mandatory service costs will be on your bill. This is just a small dose of what to expect.

    You will also have to give your conveyance or solicitor an authority to sign all documents on your behalf.

    Regards,

    Fleur
     
  16. Investig8

    Investig8 Member

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    19th Sep, 2014
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    Location:
    Coast
    Damn Fleur, I forgot to update you ...

    The conclusion which happened some time back was the following on my original 1200-1500 estimate, with 650 being the approximate professional fees.

    Professional Costs --------- 770.00
    Sundries --------------------- 55.00
    Total Professional Fees ---- 825.00 (Incl GST)

    Searches (9 in total) ------ 521.81
    Bank Chq Fee --------------- 10.00
    Settlement Agent Fee ------ 51.70

    Total Disbursements ------- 583.51 (Incl GST)

    Total ---------------------- 1,408.51 (Incl GST)

    In Summary, service was good, within budget, I believe my original estimate was wrong, (I need to find the email that I reckon I was quoting) and I had the fee structure backwards. It would make much more sense 800 (PF) + 600 (S).

    Anyway Fleur, I said I would update, here it is.

    PS... Where's my McHappy Meal and Sweet 'n' Sour Sauce, I know your using that awesome copy everywhere ... LMAO :D
     
  17. Fleur De Lis

    Fleur De Lis Member

    Joined:
    24th Mar, 2014
    Messages:
    59
    Location:
    Sydney NSW
    Investig8, I've lost count of the McHappy Meals I owe you, oh and the Sweet and Sour Sauce. Well you said I could use it!!! Go and have a McHappy Meal and send me the bill for my consideration and approval ...I'll need a break down though.

    That update/break down of professional fees is more realistic (and reasonable).

    I am actually thinking seriously of not carrying on my conveyancing business. I guess E conveyancing had a lot to do with it I am thinking I just don't want to go there and that its probably time to start enjoying what I have and already achieved, basically live a more relaxing life. (as posted in coffee lounge).

    My thoughts travelled and I was offered a position with a solicitor (with a commission on clients I bring in).

    Terry w will love this..... I asked him what he charges, h e c h a r g e s !!!
    "a percentage of the sale or purchase price".

    They are still around, unbelievable, talk about karma, my old posts on this topic have come back to haunt me....there goes any commission (if I take up the offer).

    Fleur