Conveyancing Fees Melbourne
Standard base rate
Our pricing model is simple. Our fixed fee of $750.00 for standard purchases and sales helps you accurately budget for your conveyancing transaction. Auction sales incur an additional fee of $100.00. Transactions involving an owners corporation may also incur additional fees depending on whether we are required to order an owners corporation certificate. Please request a quote for further information.
No Hidden Conveyancing Costs or Fees
You will not have any extra fees or charges, no nasty surprises. With us all pricing is transparent and clearly explained. We understand how settlement processes can be a stressful time and we want to take the stress out for you. Fordes Conveyancing take care of all the legalities and requirements of settlement. We are qualified Lawyers and very experienced in Melbourne Conveyancing Laws. This is our business and we don’t get it wrong. Anytime we require you to sign paperwork our team will make sure you understand the document and why you are signing. Sometimes settlement will require changes or updates, don’t worry we are experienced in this and will make sure it is completed correctly.
Conveyancing Fees paid at Settlement
- You will not have to pay anything money upfront
- We don’t charge any fees until settlement is completed
- One low cost payment. Our conveyancing cost covers everything; we won’t charge more than one fee
- No extra fees for photocopying, postage, phone calls or faxes
You have just made a very big purchase on property and now have to navigate the legal aspect of buying a property. It is this stage of purchase that requires all legal aspects are covered correctly. Any mistake will hold up the settlement process and can affect the bank mortgage date. As experienced Fixed Fee Conveyancing Experts we guide you in this process and liaise with all the parties on your behalf. We make the appointments with the bank for the settlement and lodge the paperwork with the relevant government departments. This is what you pay us for and we don’t get it wrong. Contact us now to get the process started and only pay one low cost conveyancing fee. We are not just Conveyancers but have access to the best Lawyers and a one stop shop for all conveyancing legalities.
Conveyancing Price
Whilst there are no set fees for conveyancing, fees are negotiable based on individual circumstances and we can provide an estimate of the fees and disbursements involved. This is in writing and agreed upon before you commence with us. We have provided the following costs involved in atypical conveyancing transaction when purchasing a home. As all cases are different we cannot give an accurate cost without have all your particular details. But this is a guide to the cost of conveyancing.
Disbursements and Conveyancing Fees
The fee may be determined by the value of the property. And often a flat fee can be charged based on a sliding scale of the properties sale price; approx $800 to $2,500.
Disbursements are the costs for expenses incurred by the conveyancer for things such as;
- Title search $20 – $100
- Local Council Building Certificate $250
- Local Council S149 Certificate $53 – $150
- Drainage Diagram $25
- Sydney Water, rates certificate $20 – $25
- Local Council, rates certificate $65
- Land Tax, clearance certificate $20 – $25
- Department of Education $20 – $25
- Environmental Protection Authority $20 – $25
- Roads & Traffic Authority $20 – $25
- Electricity/power stations $20 – $30
- Postage, stationery, faxes $20 – $40
- Local Council Pool Compliance/Non-Compliance Certificate – $150 – $450
- Other costs may apply, depending on the transaction circumstances
It must be noted that these are approximate figures only and always depend upon local councils, departments and governments.
Stamp Duty
The duty needs be paid within three months from the date of the contract or before settlement when borrowing money whichever date comes first. Stamp Duty is payable on the contract for sale of land and is ascertained by the purchase price of the property. If buying an “off the plan” property or a ‘house and land’ package then duty is due within 12 months from the date of contract or before settlement if borrowing money (whichever date comes first). If you are buying off the plan vacant land then duty must be payable within three months from the date of the contract of before settlement when borrowing money whichever date comes first.
Inspection Fees That may Apply
Building Inspection
– confirm the structural condition of the property indicating any visible defects and repairs required.
Pest Inspections
– uncover any signs of pest infestation either present or past that may require treatment.
Strata Property Inspections
– are usually done on the owner’s corporation’s books and records to see if there are any ongoing maintenance or structural problems with the buildings and provide information about strata levies, special levies, insurances etc.
Swimming pool and/or spa Compliance Inspections
– must be done to confirm the structural soundness, compliance and registration of the pool and/or spa.
Survey report
– may be required to corroborate the location of the buildings on the property and their distances from boundaries To confirm fences are within boundaries, to substantiate there are no encroachments onto the property by the next door buildings. Or by any buildings on the property onto the next door property. And to show position of any easements or rights of way etc. A lender may require this report and as a purchaser you should get this report.
Loan Fees
- Application fee charged by lending bodies to process a loan application
- Valuation fee is required by the lender to obtain a value from a registered valuer to determine the market value of the property
- Mortgage Insurance must be obtained by the lender to insure the loan when the amount of the loan compared to valuation is above a certain percentage. This insurance protects the lender from any loss through default of the borrower if the property, when sold, returns less than the loan amount outstanding at the date of sale. The premium paid is a once only premium and is determined by the amount borrowed and the loan to valuation ratio. It is not insurance in any way for the purchaser – it only protects the lender
Further Costs
Building Insurance
This is recommended to be bought before settlement. The bank will requires a certificate of building insurance if you are borrowing money. They require to be nominated as the mortgagee on the certificate. If this is not done they will not release your funds.
You are considered an insurable risk as soon as settlement happens. That is why you must list the day of settlement as the commencement date of you policy. It can also be the day before if you wish.
Insurance premiums are calculated on various factors and differ from company to company. They are priced for example on location. Property size, building materials, value and property age along with other factors.
Council rates, water rates and strata levies
These rates are adjusted at settlement so that each party to the transaction pays their amount of the rates or levies for the period applicable to the settlement.
Council rates
Calculated on the financial year and are adjusted as if the rates are paid in full for the current year. Sometimes the rates are paid quarterly and monthly.
Water rates
Paid quarterly and are also adjusted as if they have been paid in full for the current quarter.
Unit levies
If applicable are usually calculated on a quarterly time-frame but the quarter may not be the normal yearly quarters, they are adjusted as if they are paid in full for the current quarter.
The amount payable will be the portion calculated from the settlement date until the end of the current rating period and will be added to the purchase price as the purchaser’s portion of those rates or levies. The cost to the purchaser will have to allow for their portion of rates and will be determined by the settlement date.
Electricity
This must to reconnected into your name if you are residing in the property. Or if being rented out, the tenant bears the cost of electricity connection and electricity.
Telephone
To be reconnected into your name if you are going to live in the property, if the property is to be tenanted then the tenant will need to do this.
Gas
As above a cost to you unless renting the property then its the tenant.
Removalist
This cost will be dependant on many factors
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- location of move
- size of move
- packing services
- fragile items
Of course all of these costs listed may not cover your full budget needed. We are conveyancing experts which means we can advise you of a budget for your needs. Speak to us toady to understand what you need to do and how we can help.