Frequently Asked Questions
Below are some commonly asked conveyancing questions (FAQ) to assist you in understanding the conveyancing process:
1. What does ‘Fixed Fee’ mean? With a fixed fee conveyance, you are quoted for the exact service you will receive, with no hidden extras. This quote will include professional fees and searches. Should you require any additional services, this cost will be discussed with you prior, and added only with your instruction.
2. Should I get pre-contract advice? Signing a contract is a huge financial commitment, and many people are unfamiliar with the documents involved. We strongly recommend talking to our solicitor team prior to signing, to ensure you understand your obligations and your needs are met.
3. Will I need to fill out any paperwork? There will be paperwork for you to read and sign to ensure that we are completely aware of your personal details, and that you are fully informed of the process. We encourage you to contact our staff with any questions you may have when reading through our paperwork, as we are happy to assist in any way possible.In regards to paperwork pertaining to your mortgage, financial institutions do require that you complete this personally. We recommend contacting your bank to ensure you have met their requirements.
4. Do I need to attend settlement? It is not necessary for you to physically attend settlement – this service is included in our quoted fees. We will ensure your settlement runs smoothly.
5. Do you handle my mortgage? We are unable to offer financial advice, and therefore recommend you seek the advices of your broker or financial institution when releasing your existing mortgage, or entering into a new loan agreement.
6. Do I need to come into your office during the process? Our conveyancing process is designed with minimal hassle to our clients. It is not necessary for you to attend our office – all of our correspondence can be completed by email or post. We will confirm your preferences for contact upon receiving your initial instructions.
7. What are ‘Searches’? During the purchase process we will conduct searches on the property through the relevant council, service providers and Body Corporates (if applicable) in order to advise you of any issues or relevant information relating to your purchase. During our initial contact with you we will discuss our standard search package as per your quote and any further recommended searches based on your contract and property.
8. Why is there a price difference between sales and purchases? The purchase process is more complex than a property sale. Conditions such as building and pest, finance and special conditions need to be met and possibly negotiated, along with liaising with brokers and financial institutions to meet deadlines. Purchase clients will also need to pay for property searches as per our quotes.
9. What happens with rates payments at settlement? A rates search will be done by the party acting on behalf of the Purchaser to confirm the rates owing/paid for the settlement period.A rates adjustment will be made at settlement either in favour of the buyer or seller depending on if the currents rates balance is paid.This means you will only be paying the rates for the period of time that you are the owner of the property.
10. When do I pay your fees? An initial fee will be payable on acceptance of our services. If your transaction is for a purchase, this will also include the relevant search prices. The remainder of the fees are payable on settlement.