Hi,
I paid almost $1K for the simplest conveyancing I asked for a conveyancing company and few friends have been saying that is too much. So I wonder what do you guys here think.
Details:
Cost = $450
ANSTAT TI XXXXXX XX/XX/XX $350
Certificate of Currency $55
Final Settlement Title Search $66
Settlement Attendance at Vendor Venue $44Total = $965
It is an apartment I purchased in a block of 8 for the price of $390K. Are those numbers normal? Or the conveyancer overcharge me? I dont really understand what are those ANSTAT, currency cert, title search are. Are those necessary upon buying a property?
Thanks,
blaze
for Queensland that not overly expensive,I dont know about wherever you are situated.I can tell you i have dealt with A LOT of conveyancers and you truly do get what you paid for. But two things come to mind
A) you have paid it, forget about it. shop around next time and don't let it bother you.
Friends are always full of great information……..after the fact.Thanks digger. I am in Melbourne, Victoria. Yeah what is done is done. Just wondering if others actually charge less. If it does then I shall shop around next time otherwise I will use them again.
Anyone know what is ANSTAT TI is? That seems to be the major disbursement spent on.
Cant say for sure Blaze, that is different to QLD, but I would imagine it would be body corporate searches and general searches regarding the land the complex is on.
i'm in melbourne and I paid the same amount, too. I guess it's normal.
I'm in Melbourne too – For my most recent purchase (3 br house in Churchill Oct 08) I paid $650 including GST for conveyancing. So I think $1000 is a bit steep – regards Kath
I purchased an apartment around Melbourne. I asked friends and family. They referred me to a sole practitioner who does it for 800.
He did mine for 600 all inclusive.
So yeah shop around. you can get a lawyer to do it cheap if you do.
ANSTAT would seem from a Google search to be an agency that does various property enquiries that would normally be done in a purchase. $450 for lawyers is cheap, certificate of currency is for insurance (or at least in NSW it would be) to ensure the body corpotrate has the required insurance policies
That is a pretty standard cost for conveyencing.
You can do it all yourself, but be wary if you do. Firstly you need to know what you are doing. And secondly, if something does go wrong (and sometimes things do, even in what may appear to be the most straight forward of cases) if you have paid a laywer or conveyancor then you have the option of recourse through their professional indemnity insurance. If you do it yourself and something goes wrong – then that is too bad for you.
I have a law degree, but I pay someone else to do my conveyencing just so I am covered by their insurance.
Friends are always full of great information……..after the fact.
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