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Buying property is a significant milestone, and navigating the legal process can be challenging. This is where a conveyancer becomes essential. They specialise in handling property transactions, making sure everything proceeds smoothly from the moment you agree to buy through to the final settlement. Whether you’re a first-time buyer or not, knowing when to hire a conveyancer and understanding the process can make the experience much less stressful.
Key Points Covered
Ideally, you should bring a conveyancer on board before you sign the contract of sale. Many people wait until after they’ve signed, but by then, it can be too late to address potential issues.
A good conveyancer will review the contract before you commit to the sale, making sure all the terms are fair and protecting you from any unexpected surprises. Hiring a conveyancer early in the process can save you a lot of potential trouble down the road.
A contract of sale is a legally binding agreement, so it’s essential to fully understand what you’re committing to. A contract review is an in-depth assessment of the terms of sale, payment conditions, and any legal complications like easements, zoning restrictions, or special conditions. Your conveyancer makes sure the terms are balanced, while highlighting anything that might impact your purchase.
The cost of conveyancing services can vary depending on the complexity of your property purchase and the firm you choose. Here’s a general guide to the costs you can expect in Victoria.
Contract reviews are usually charged per contract, with fees ranging from $200 to $500 or more, depending on how complex the contract is or how quickly you need it done.
For full conveyancing services, which cover everything from the contract review to the final settlement, the fees typically range from $750 to $2,200. Several factors can influence these costs, such as:
In addition to the conveyancer’s fee, there are disbursements, which cover out-of-pocket expenses such as title searches, zoning certificates, and council rates checks. These typically cost under $400, but it can vary depending on the specifics of the property.
Most conveyancers in Victoria offer a flat fee, which means you’ll know upfront exactly what you’ll be paying for their services. This makes it easier to budget and avoid any unexpected costs. While some conveyancers might offer an hourly rate, this is less common and can make costs unpredictable if the process takes longer than expected.
What Happens if You Have Multiple Property Contract Reviews?
If you’re considering multiple properties, keep in mind that each contract review will usually be charged separately. Bulk discounts for reviewing multiple contracts are rare, so it’s best to plan for the costs of each individual review.
Keep Reading: Who Pays for Conveyancer Fees When Buying & Selling Property?
When choosing a conveyancer, look for someone with experience in property law and a strong reputation. It’s also important to make sure they offer transparent pricing with no hidden fees. Good communication is key too – you want a conveyancer who can explain things clearly and keep you in the loop throughout the process.
Keep Reading: How to Choose a Conveyancer in Australia
When it comes to buying property, you want to feel confident every step of the way. At Settled, we make sure you’re fully protected by reviewing your contract and sorting out any issues before they become problems. Let us handle the details so you can focus on what matters most: enjoying your new home. Get in touch with our expert team today and move forward with your property purchase knowing you’re in safe hands.
