Frequently Asked Questions

1. What is Conveyancing?

  • In law, conveyancing is the transfer of legal title of a property from one person to another.

2. Why use a conveyancer as opposed to a solicitor?

  • Conveyancers and solicitors are equally qualified to undertake conveyancing work.
  • Conveyancers however specialise in this single field of law governing property transactions and hence are focused solely on property transactions without the distraction of other aspects of law.
  • Conveyancers do not make court appearances and hence are more readily contactable.

3. When do I instruct my conveyancer?

  • As early as possible.
  • Preferably before you look for a property or before deciding to put your property on the market when selling.

When selling your property:

  • By law, when selling a residential property, you are not allowed to market the property without having a contract for the sale of the property prepared.
  • Hence you will have to instruct your conveyancer before putting your property on the market.

When buying a property:

  • Never sign any contract document before consulting your conveyancer.
  • Always request for a copy of the contract in order for your conveyancer to review the contract with you before signing.
  • There is no such thing as a standard contract.

4. What questions should I ask my conveyancer?

  • What exactly will I pay in fees and charges?
  • What services are included in those fees
  • Will there be any additional charges or costs?
  • What Government fees will I have to pay?
  • Am I eligible for the First Home Owner’s Grant?
  • How long will completion take?
  • Is there anything I need to do and when do I do it?
  • Will you personally be handling my file?
  • How will you keep me up to date with the progress of my transaction?

5. Will I have to be present at the settlement?

  • Your presence will not be required
  • The parties present at the settlement are the  legal representatives of the buyer and seller and the mortgagee institutions

6. How long does the conveyancing process take?

  • The standard is 42 days [6 weeks]
  • This is may however be negotiated between the buyer and seller prior to signing the contract.

7. What are the costs involved in buying a property?

  • There are several costs involved when buying real estate. It is important that you know what they are before commencing with your purchase.
  • Always ask your conveyancer for a written quotation of all fees and charges in your particular transaction so that you are aware of what the conveyancing process will cost. Inquire whether there any other costs or charges that may arise that are not included in the quotation.

Standard fees and charges payable:

  • Conveyancer’s fees
  • Title search costs
  • Inquiries from various government agencies
  • Section 109 certificate from the strata managers [if buying a strata property]
  • Stamp duty [if not eligible for the First Home Owner’s Grant]
  • Agency fees for settlement
  • Fee for attending to loan and mortgage documents
  • Registration fees payable to the Land Title’s Office

Other costs to be aware of:

  • Building and pest inspection reports
  • Strata inspection reports [if strata property]
  • Fees and charges for obtaining a loan
  • Mortgage insurance [where applicable]
  • Adjustments for rates and taxes during settlement/completion
  • Insurance of buildings [where applicable]
  • Removalists and other moving costs

8. What are the costs involved in selling a property?

  • As in buying a property, ask your conveyancer for a written quotation of all fees and charges in your particular transaction so that you are aware of what the conveyancing process will cost. Inquire whether there any other costs or charges that may arise that are not included in the quotation.
  • In addition obtain a written quotation from the real estate agent that will be handling the sale of your property detailing their fees and marketing costs or the manner in which they will be calculated.

Standard fees and charges payable:

  • Conveyancer’s fees
  • Title search costs
  • Plan of the Land/Title search of the common property [if strata property]
  • Zoning certificate from the Council
  • Sewerage diagram
  • Agency fees for settlement
  • Fee to arrange discharge of any mortgage/s
  • Balance of loan repayment
  • Adjustments for rates and taxes for period property owned during settlement/completion