Online conveyancing costs and price guide

Property is one of Australia’s greatest loves – aside from sport and the great outdoors of course! With Melbourne and Sydney having just experienced one of the biggest property booms in Australian history, a huge volume of real estate has successfully changed hands in recent years.

Whilst most people still opt for the services of a traditional conveyancer who they’ll be required to meet with in person when exchanging important documents, many are discovering the convenience and additional benefits of online conveyancing.

Whether you’re considering selling your current property and downsizing to a smaller house right now, or researching the transaction costs involved ahead of a possible future purchase, it pays to know how this process works and the specific online conveyancing costs you might face.

As qualified and experienced providers across Metropolitan Melbourne, Conveyancing.com have broken down the typical prices you can expect to pay:

What’s included in an online conveyancing quote?

Like any professional service, especially one that involves as much financial and emotional investment as buying or selling a property, gaining a professional quote before committing to anything is essential. When it comes to online conveyancing services (or traditional conveyancing for that matter), you should always ask for a quote that clearly outlines the costs your conveyancer expects to charge you.

Armed with this quote, you’re then in a position to directly compare costs and determine which option offers you the best value for money.

Here’s some of the common costs and charges you might find included in an online conveyancing quote:

Conveyancing service fee

This covers the basic costs of providing conveyancing services and is generally a flat rate depending on the type of transaction you require (I.e. buying, selling, transfer etc). Items included under this fee are:

• The conveyancer’s qualified legal advice
• Preparing a Section 32 Statement (official property transaction document in Victoria)
• All correspondence between yourself and other parties to the transaction
• Obtaining building reports

Disbursements

Disbursements refers to all the other costs and charges you may face, above and beyond the basic conveyancing fee. These are charged for any additional work your conveyancer needs to carry out and includes:

• Arranging additional building inspections
• Mortgage registration fees
• Searches for land titles, taxes and council rates
• Caveat lodgement

The benefits of choosing an online conveyancing lawyer vs a regular conveyancer

No doubt you’ve heard it before – buying or selling a property is one of life’s biggest financial decisions. Even as an experienced investor or downsizer who’s been through this process before, it always pays off in less cost and hassle over the long term to seek out the services of a qualified professional.

When it comes to conveyancing, you can opt for the services of a traditional conveyancer – who can complete all the basic paperwork associated with a straightforward property transaction, or a conveyancing lawyer, who’ll prove invaluable with additional qualifications and experience for more complicated transfers – or in the case of anything going wrong.

Differences between these two professionals include:

• A conveyancer requires a diploma degree and license to practice
• A diploma of conveyancing generally requires one year of study, followed by one year of training
• Conveyancers will generally charge a fixed fee for their services
• A conveyancing lawyer (or solicitor) requires a Bachelor of Law as a minimum qualification
• A Bachelor of Law generally takes four years to complete
• This degree also includes a number of subjects covering property law
• Conveyancing Lawyers will generally charge either a fixed fee for service or a negotiated hourly rate, depending on the nature of the transaction

Online conveyancing costs: what you can expect to pay

Now for the crunch time. What online conveyancing costs should you expect to pay? Keeping in mind each property transaction is unique and the costs below are only “ballpark” figures, a homeowner looking to sell their existing family home in Metropolitan Melbourne would pay approximately $990.00 with Conveyancing.com.

More complex cases, or those requiring litigation, may attract a higher fee that recognises the scope of work and expertise our online conveyancing lawyers provide. We complete your property transaction in as little time and with minimal fuss.

*ex GST

What to check with your conveyancer before committing

So you’ve decided to take the plunge and buy or sell a property using an online conveyancing service. You can see the value for money of having a fully-qualified, conveyancing lawyer handle this important transaction and are ready to begin the process!

Before you do commit, here’s a few questions worth asking to make sure you find a professional that’s right for you:

1. What qualifications do you have?

Check your conveyancer’s educational qualifications, keeping in mind a regular conveyancer is required to complete a Diploma, whilst a conveyancer lawyer will have a Bachelor of Laws to their name.

2. What types of property do you specialise in?

Be sure to ask what types of property your conveyancer deals with, keeping in mind some will only specialise in metropolitan areas as opposed to rural regions.

3. Are you an accredited AIC conveyancer?

Another question worth asking is if your conveyancer is a member of a recognised professional body for conveyancers, such as the LIV (Law Institute of Victoria) – rest assured all Conveyancing.com lawyers are proud members!

‍4. What are your fees/charges?

An obvious question covered in-depth throughout this article – don’t forget to ask for an itemised quote from your conveyancer before you sign up to their services.

5. How long will settlement take?

Last but not least, know your own timeframe before asking your prospective conveyancer how long they typically take to complete settlement. One of the biggest benefits of online conveyancing is the ability to complete the whole process within 48 hours if need be.

Keen to engage the services of our dedicated, qualified online conveyancing lawyers? Contact Conveyacing.com today by visiting our website, sending us an email to info@conveyancing.com or giving our friendly team a call on [phone].