How much does a Conveyancer cost?
This will depend on the type of transaction and what is involved. Listed below are only a few of the issues we need to take into consideration when providing an estimate for our Conveyancing fees:-
- Is there finance required?
- Is the contract to be assigned?
- Are you purchasing in your name, a company or a trust entity?
- Is the property subject to a land division being finalised before Settlement?
- Are there any Encumbrances to be discharged or registered at Settlement?
We would be more than happy to discuss your particular transaction and the costs involved by telephone or email.
If you require information on our fees please contact us
How much Stamp Duty will I have to pay?
The State Revenue Office provides an on-line calculator that you can access by using the following link:
http://www.revenuesa.sa.gov.au/index.html?http://www.revenuesa.sa.gov.au/calculate/calculate.html
Do I qualify for Stamp Duty Benefits or Exemption?
You can establish your status by contacting the State Revenue Office on 13 1261 or view information on their website at the following link:
http://www.revenuesa.sa.gov.au/index.html?http://www.revenuesa.sa.gov.au/calculate/calculate.html
When are all of these fees payable?
Your Lender will usually deduct Stamp Duty & Transfer fees from your Loan and pay these on your behalf when they lodge the Transfer.
Any other fees payable to your Mortgage Lender will be detailed in your Loan Agreement. For example, if borrowing more than 80% of the value of the property you may be required to pay Mortgage Insurance. The amount of this Insurance & other loan charges will be advised by your Lender & deducted from the funds available to you for settlement.
Conveyancing fees + disbursements are usually deducted at Settlement. We will not ask for any payment prior to settlement.
What other costs will I have to pay?
Adjustments will be made in relation to Local Council Rates, SA Water rates, Land Tax rates, Emergency Services Rates and any Strata/Community Corporation rates. These adjustments are based on the settlement date and will usually come out of the loan funds available to you. If your loan is not sufficient to meet all requirements you will be advised in advance of the amount of funds you will have to provide for settlement.
The adjustments are made to ensure that all rates & taxes on the property have been made & that you will not be presented for a bill for arrears on the property prior to your settlement date. Typically, rate adjustments will be made so that rates are paid to the end of the current rating year.
Other minor fees will also be taken into account in the Statement of Adjustments, such as the fee for Discharge of Mortgage or Registration of Mortgage.
How do I get finance for a home loan?
Fortunately, we live in an age of infinite choice! If you are prepared to do a little homework you can save yourself a small fortune over the period of the loan. All of the major lending institutions provide on line loan calculators and also provide the tools for you to apply for a loan on line or over the phone.
My Finance has not been approved by the date required in the Contract – will the Vendor withdraw?
We usually advise that your Contract allow at least 14 days for finance approval and in most instances this is adequate . However, if you haven’t received loan confirmation by the required date we will ask that the Finance period be extended by the period advised by your Lender. In most instances the Vendor will agree with this request as the extension required is usually only a few days . However, we stress that you are responsible for ensuring that all possible action is taken to meet the finance condition in the Contract.
When do I get my money from the settlement?
If the settlement is taking place within the Adelaide CBD you can arrange to collect your cheque the same day. (Note that it may still take 3 days for the bank to clear your funds – even though it is a Bank cheque. You should check with your bank about this).
Alternatively, we can mail the cheque to you by express post or deposit it into an account you have nominated.
I don’t want to use an Estate Agent – what choices do I have?
If you are selling your property then the choice is yours. You can do it by Private Sale, advertise on the Internet, local papers etc. We do not provide advice as to how you should sell. However, for your convenience we have listed below a number of Web sites that provide “do it yourself” services.
www.realestateguide.com.au
www.owner.com.au
www.australianrealty.com
www.ozprivatesale.com.au
You can investigate options by entering a search into Yahoo or Google such as selling property or private sale real estate etc.
We suggest that you work out your advertising costs, time spent, possibility of not obtaining the best price and so on before you decide which option you select. Estate Agents have expertise in the sales process that the rest of us do not have – you may actually save more by paying Agents fees than by doing it yourself.
