How much does a conveyance cost in Queensland?
Purchasing or selling a property often entails financial constraints. Expenses such as moving costs, agent’s fees, and various other charges must be taken into account and budgeted for.
Unexpected expenses during settlement can be overwhelming and undesirable.
Conveyancing services are a crucial cost that must be factored into your budget. However, with a wide range of prices being quoted, it’s important to understand the specifics of what you’re paying for and how much you should budget for conveyancing services in Queensland.
Why you need to engage a solicitor:
Conveyancing in Queensland is a complex process and can take some time to progress through to Settlement. There is a lot more to it than just signing some forms and paying the money.
Queensland is a “Buyer Beware” jurisdiction – it is the Buyer’s responsibility to property investigate the property before signing the Contract and make sure they are satisfied with the property. If you don’t conduct your own enquiries and investigations into the property, you may buy a property that is unsuitable to your needs, and you may not have any rights to terminate the Contract. If you discover something adverse after settlement it may be too late! It is unlikely that you will have any rights against the Seller or the Agent after settlement.
When selling a property you need to ensure that you have properly disclosed all matters you are required to disclose to the Buyer before the Contract is signed to avoid any risks of the Buyer terminating the Contract.
Put simply – obtaining legal advice is crucial to protect our rights and interests.
At McLaughlins Lawyers all of our conveyancing transactions are conducted by an experienced Solicitor to ensure our clients receive advice, understand their rights and obligations and are fully informed before proceeding to Settlement.
What is included in conveyancing fees?
A property transaction, whether it be a purchase or sale, is typically one of the most significant transactions in an individual’s life. Navigating the complexities of the process can be overwhelming without proper advice!
There is a lot to be done in a conveyancing transaction! A conveyancing solicitor works closely with you, the solicitor for the other party, the agent, your bank, the land titles office, and the Queensland Revenue Office to ensure that all necessary steps are taken to allow the property to be legally transferred.
It’s essential to engage an experienced solicitor who possesses expertise in property law to represent you, as they can lead you through the legal procedures involved and prevent expensive mistakes and obstacles from arising during the process.
Why is there so much variation in conveyancing prices?
Some firms will quote a low fee but exclude many standard steps from their scope of works meaning that at settlement you receive a much bigger bill than expected! Ask whether they offer a fixed fee service and whether they charge any extra amounts for emails, extensions or other services.
Ask whether a solicitor is handling your file! Conveyancing can be very complex, and you need to be sure you can obtain legal advice when you need it!
Ask what property searches and enquiries are being obtained to ensure you are properly informed of any risks before you are bound to the Contract! Remember – Queensland is a Buyer Beware jurisdiction – property searches are your only way to fully inform yourself of what you are buying!
Cheaper is not always better!
Are there other costs involved?
You also need to be aware of the additional costs of conveyancing such as:
- Property Searches – depending on where the property is located search fees for a purchase range from $450.00 – $700.00 (depending on whether you are buying a house or a unit).
For a sale – if the Agent has not conducted a Title Search then approximately $30.00 for a Title Search.
Depending on the specifics of your conveyance there may be other costs involved – we will always keep you informed of any costs you are likely to incur in your transaction.
What we charge:
At McLaughlins Lawyers we understand that you need to budget for all costs in your transaction. We offer a fixed fee for our professional services and clearly set out what work is included in our fee, and what work is not.
When using McLaughlin’s Lawyers our conveyancing fees include:
- Brief informal pre-signing review of Contract;
(Written advice or drafting of special conditions will incur additional legal fees.)
- Solicitor handling your matter from start to finish;
- Conducting necessary searches on the property and advising you of the results
Note – paid searches are not included in our professional fees and are charged at cost
- Detailed letter of advice once contract is signed;
- Up to 2 extensions of due dates under the Contract;
- Ability to attend our office and sign any necessary documents and verify your identity free of charge;
- Witnessing mortgage documents free of charge;
(This does not include providing independent legal advice on mortgage documents.)
- Liaising with your lender to prepare for settlement and ensure you know, in advance, what funds you must provide for settlement (if necessary);
- Preparing stamp duty documents, advising you in relation to any applicable transfer duty concessions
- Calculating settlement figures, including adjustments for rates, water and electricity for settlement;
- Acting for you at settlement;
- Keeping you informed throughout the whole process!
We will always keep you informed where any work is outside of the scope of our standard fees before we do the work to ensure you are in control of your matter and know what your costs are!
CONTACT US NOW FOR AN OBLIGATION FREE QUOTE! 07 5591 5099 or [email protected]