Hi all,
Just wanting to know typical costs for conveyancing? After recently selling our property and buying a new one the total bill for both transactions came to $2,500 which I thought seemed excessive, especially considering the incompetance of the people involved which is another topic for another day….
It all depends on the State concerned and the amount of work carried out but from my past experience we have never paid more than $550 + cost of searches etc for a purchase or a sale.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Hmmmm so it would appear Ive been over charged. Does anyone know of who you can go to in order to get invoices checked? There is a ombudsman or something isnt there?
Again depending on what State you are in The Law Society used to regulate the fees charged by lawyers.
With the opening up the whole financial services market it became open for lawyers to charge accordingly to what they could get away with hence the growth of conveyancing firms.
I wish you luck but I think you have little chance of getting a refund as they could easily justify the amount they have charged. Just out of curiousity didnt you get a quote first?
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I do a lot of conveyancing for a sole practitioner in eastern suburbs in Sydney and from experience, you basically get what you pay for. Even as a first year solicitor myself, dealing with conveyancers, conveyancing clerks and/or solicitors, there are competent and non competent ones. What you really need to find is someone who will run that extra mile for you without extra costs when the bank stuffs you up as you can pay penalty interest everyday you are late.
Generally in eastern suburbs in Sydney for a sale you will find the price for conveyancing will range between $800-1200 + disbursement and for purchase $900-1600 + disbursements. I’ve seen cheaper quotes, but when I see them I wonder what the quality will be like, considering the amount of time it takes if you want to do it properly. Having done conveyancing for one year, I can see how you can cut corners, and charge your clients less, but I do not know whether it is worth it when there are risks for not doing your searches properly and having a bad conveyance- this will only be discovered at the sale time, and you might have great problems selling!!!
Please also keep in mind that there are actually few solicitors being sued for bad conveyance and when the difference is only a few hundred dollars it may be worth using somebody who does their job properly. The bad mistake only gets discovered when it comes to selling, and it may costs thousands and thousands to rectify the mistake.
So here is my recommendation:
First, go and talk to the person and ask any questions you may have about conveyancing also obtain costs.
Second, use somebody who does conveyancing all the time. The procedures with banks change constantly, and they have to be upto date if you want your settlement to take place in time. One mistake of fax number for a discharge request could end up as penalty interest, or interest payment to the bank and the solicitor or conveyancer will be unlikely to say that it’s their fault and they will blame the bank for their inefficiency.
Here is my two cents worth
Thanks Hiflo,
I totally agree with your sentiment that you get what you pay for. It is for this reason that I was happy to pay what I thought was an expensive fee, but in contrast to the level of service I recieved I was biterley dissapointed and started to question exacly what people are normally paying.
It was one stuff up after another with this group-took over 6 weeks to prepare the section 32, had the house on the market and had people wanting to look at the papers, were told it had been sent waiting waiting, still no papers, then told it was sent to the wrong address (WTH??) chatels a cut and paste job with appliances not even in our house. Asked by wife to speak to the owner told he wasnt in the office today-I called two seconds later and was put straight through, they paid the entire amount for the purchase of our new property when it was off the plan and therefore shouldnt have had the stamps etc….. it just went on and on and I cant be bothered going into it but whatever happened to professionalism??
Hi Blogs, I agree with you, that is excessive, [thumbsdownanim I would be questioning your conveyancer about the bill if I was you. Would have thought it should come in about half that cost for both. All the best Manifest [biggrin]
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