Conveyancing fees

Discussion in 'The Buying & Selling Process' started by Aque, 1st Sep, 2015.

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  1. Aque

    Aque Member

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    Hi

    I used different Conveyancers before. There was no charges for terminating contract when the deal did pass finance or building and pest inspection.

    I recently used a new Conveyancer and the deal was terminated due to bulding and pest. It was a simple termination. However the Conveyancer wants to charge me 200 plus for fees. Is this normal? There was no terms or conditions sent to me or any discussion or indication for this fee.
     
    Aque, 1st Sep, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes normal. On the cheap side.
     
    Terry_w, 2nd Sep, 2015
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  3. Aque

    Aque Member

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    Thanks Terry. What do you mean by on the cheap side?
     
    Aque, 2nd Sep, 2015
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Many would charge more. Reviewing the contract is half the work.
     
    Terry_w, 2nd Sep, 2015
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    Sackie and JacM like this.
  5. Sonamic

    Sonamic Well-Known Member

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    Lucky to get out under $350.
     
    Sonamic, 2nd Sep, 2015
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  6. Jeah_

    Jeah_ Well-Known Member

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    We recently had a deal fall over on P&B and our conveyance charged us $300. We couldn't pay her quick enough for her services. It was her initial advice on modifying the Building Inspection clause and her no-nonsense approach with dealing with the other sides conveyancer that saved our skin. I will be recommending her highly to anyone.
     
    Jeah_, 2nd Sep, 2015
    #6
  7. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    We charge $110 on resi termination in QLD plus the searches carried out but then credit the $110 if someone brings another conveyance to us within 60 days. The numbers falling over on finance are significantly up at the moment too. Last time I checked it actually costs me nearly double above in labour costs if something gets as far as finance and then terminates.
     
    RPI, 2nd Sep, 2015
    #7
  8. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    A fee is normal - they've done some work so it's understandable.

    I just paid $500+ due to a similar predicament. Listed a property - it didn't sell quickly so solicitor charged a $500 fee for work they've done so far (I'm not quite sure what they've actually done but I understand they have costs to cover).

    Cheers

    Jamie
     
    Jamie Moore, 2nd Sep, 2015
    #8
  9. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    I would gladly pay that fee. Saves you a mint. You dont want to proceed to avoid costing you a loss.Walk On. As Terry said much of the work is the initial contract. Of all the worst conveyance problems I have seen its the ones who proceed when they should not have or those who took a OTP contract to exchange when the terms gave them no right to enforce a purchase.
     
    Paul@PAS, 2nd Sep, 2015
    #9
  10. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    The only ones I know who let clients off free do it because they know client will be back purchasing next property in a few weeks and because I send a few their way. If there was no prospect of another deal they would charge.
     
    BuyersAgent, 3rd Sep, 2015
    #10