Conveyancing and Property ­ FAQs

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Conveyancing and Property ­ FAQs

When should I make use of a property lawyer or conveyancer?
You don’t have to wait until you have signed a contract before you contact a conveyancing lawyer.  It is unwise to sign a contract without first consulting an experienced property lawyer.

What does it cost to buy a property?
In addition to the purchase price, a buyer will incur land transfer duty, registration fees payable to the Registrar of Titles, conveyancing fees and search costs, inspection costs and where funds are borrowed, bank fees and valuation costs.

What does it cost to sell a property?
The costs of selling a property include real estate marketing fees and also commission, typically charged between 1% and 3%.  Other costs include fees payable to discharge any mortgage, search costs and conveyancing fees.

Should the buyer and seller use the same property lawyer or conveyancer?
It is preferable for the buyer and seller to use their own independent property lawyer to ensure no conflict of interest arises.  Conflicts can easily arise and are likely to pose a problem if both parties use the same property lawyer or conveyancer.

What is a property subdivision?
When you subdivide a property you essentially are splitting one single title into multiple titles.  Subdivision has certain advantages, like the ability to sell part of your property. You can also reduce your loan, if you sell off a part of your property to another buyer.

Do I need a property lawyer or conveyancer if I sell my house privately?
When selling real estate privately it is essential that the seller obtains the expert guidance of a property lawyer to prepare the section 32 statement and contract.

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