Our team at Real Conveyancing have put together a few questions that should be at the top of your list before you engage a Conveyancing Solicitor.
Probably the most important and obvious is “How much will your services be?”
It is important to know right from the get-go what your conveyancing costs will be. With prices varying widely it’s important to request an itemised quote so that you can see what your professional fees will be. Some conveyancing quotes don’t include third party costs or ‘disbursements’ which are the fees to local authorities for searches that must be completed for your purchase. If you find yourself coming across a quote that seems much lower than others, it could very well be that disbursements have not been included.
Will I have to pay additional fees if extensions are requested?
In Queensland, we are seeing a massive boom in property sales with the influx of interstate relocations. As a result, banks are over run with applications resulting in time delays for approval and settlement. Purchasers may require a little extra time to get Finance Approval or to get their Bank ready for Settlement. This is generally fairly common and most Conveyancers see it as a normal part of a conveyancing transaction, however, it is our recommendation that you always clarify this to avoid extra costs.
Are there any additional fees for my conveyancer to negotiate on my behalf should issues arise with Building and Pest?
A building and pest inspection is a must for any property purchaser in order to identify any potential structural or other issues that may not be visible to a layperson.
Should any issues be uncovered that require the seller to rectify before your contract can go unconditional and you require negotiations on your behalf, you need to clarify that this will be covered within your Conveyancing quote.
What if my sale falls through?
Contracts do fall through for many and varied reasons whether it be that another purchaser was involved or whether your finance or building and pest fell through. Whatever the reason, establish what the costs are ahead of time so that you understand and can plan.
When do I need to pay and finalise my invoice?
You may be required to pay a part payment on exchange of contract or monies placed into a firms Trust Account at the time of providing instructions. Or you may be required to pay disbursements as they are incurred throughout the matter. It is important to clarify the payment schedule so that you fulfil your obligations and that your transaction avoids any delays.
Call the team at Real Conveyancing or click here for an instant quote.