Prices between conveyancers and solicitors will vary. Some will charge a fixed fee or flat fee other will charge you on a sliding scale determined by the sale price of the property. In general costs are broken down into the following categories:
- Service Fees. These are the fees charged by the solicitor or conveyancer for the time it take to perform the conveyancing work. Generally, there is more paperwork to complete when buying a property, so service fees for buyers tend to be slightly higher.
- Disbursements. These are the out-of-pocket expenses that the conveyancer incurs on your behalf. Some of these items include: searches, obtaining certificates, stationary costs, faxes etc.
- Additional costs: There are a number of additional costs associated with buying and selling property. Some of these include: mortgage insurance, stamp duty, building and pest inspections, survey reports.
Always ask for a statement of likely costs before the conveyancer or solicitor starts the work. If you are uncertain of any costs or aspect of the conveyancing process get clarification before signing any paperwork or contracts.
When evaluating the conveyancing quotes use your judgement and don't let price be the determining factor. While you don't have to accept the highest bid, you need to feel confident that you are getting the best value and quality service for the money you are being asked to pay.