Conveyancing - Selling or Purchasing Residential Property
Costs and Disbursements
The cost of conveyancing is made up of Our Costs and Disbursements.
Our Costs (including GST) – This is for the work we do (see below).
$1,200 - Residential property less than $500,000
$1,400 - Residential property between $500,000 - $750,000
$1,600 - Residential property between $750,000 - $900,000
Sale or Purchase greater than $900,000 - Costs by agreement
We may charge an additional amount for an ‘off-the-plan’ purchase, due to the added complexity of the purchase.
Disbursements
These are in addition to our costs and are paid to other parties for searches and reports etc that are required before you finalise the Contract for sale of land, or before you finalise the purchase of your property.
Possible Disbursements (estimates) - Disbursements in bold are required in all sales-
Costs and Disbursements
The cost of conveyancing is made up of Our Costs and Disbursements.
Our Costs (including GST) – This is for the work we do (see below).
$1,200 - Residential property less than $500,000
$1,400 - Residential property between $500,000 - $750,000
$1,600 - Residential property between $750,000 - $900,000
Sale or Purchase greater than $900,000 - Costs by agreement
We may charge an additional amount for an ‘off-the-plan’ purchase, due to the added complexity of the purchase.
Disbursements
These are in addition to our costs and are paid to other parties for searches and reports etc that are required before you finalise the Contract for sale of land, or before you finalise the purchase of your property.
Possible Disbursements (estimates) - Disbursements in bold are required in all sales-
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Sale of Property
Section 149 Certificate (cost depends on the Local Council) - $200 Title, drainage diagram and deposited plan searches - $50 NSW Land and Property Management Authority registration fee on Discharge of Mortgage (if required) - $115.00 Additional If Strata Title Sale Strata title search - $15.00 Strata Plan Diagram - $15.00 Sale of Property – What RK Lawyers will do for you 1. Advising you on the procedure relating to the sale 2. Drafting and advising you on the Contract for Sale of Land; 3. Responding to any proposed amendments to the Contract and corresponding with the purchaser's solicitor; getting further instructions from you. Confirming status of mortgage and mortgage payout; 4. Attending to your signing the Contract; and exchanging Contracts with the purchaser's solicitor; 5. Letter to you after exchange of Contracts; 6. Corresponding with your lender regarding requirements for payout of mortgage on settlement; 7. Corresponding with solicitor for purchaser and replying to Requisitions on Title; 8. Seeing to signing of Transfer by you; 9. Contacting solicitor for purchaser and the outgoing mortgagee and making appointment for settlement; 10. Reviewing settlement figures (the purchase price less deposit, plus or minus adjustments for rates) and preparing cheque directions; sending these to the purchaser's solcitor 12. Attending on settlement with all the other parties representatives and receiving original directions, Final Search, bank cheques etc., and handing over and title deed, execution of Transfer, Discharge of any Mortgage, etc.; notifying the sale agent of settlement completion; 13. Providing you with a letter reporting after settlement summarising the transaction and the amount paid over on settlement and how that amount was provided. |
Purchase of Property
Estimate of Standard Disbursements - $300 Estimate of Strata Purchase Standard Disbursements - $400 In some purchases, we may advise that additional disbursements be incurred if required. See estimated costs of all disbursements below. Building Inspection, Pest Inspections and Strata Plan Inspections (if strata purchase) are usually advised. See estimated costs on below. Possible Disbursements (estimates) - Disbursements in bold are required in all purchases - Compulsory Statutory Searches - $150.00 Including: - Section 603 Certificate (council rates); - Section 66 Certificate (water rates); - Section 47 land tax certificate (Office of State Revenue) Title searches - $15.00 Final Search fee -$15.00 NSW Land and Property Management Authority registration fee on Discharge of Mortgage (if required) - $95.00 to $110.00 Building and Pest Inspection Report (if required) - $450.00 Other Statutory Searches (if required): RTA/RMS, Department of Education and Training, Energy Australia, Environment Protection Authority, State Rail Authority, drainage diagram, Transgrid - $30-$50 per search required Agent fee -$50 (if required) Registration of Transfer - $210 (usually arranged through your bank) Additional If Strata Title Purchase Section 109 Certificate - $104.00 Strata Plan Inspection Report (Recommended - $250.00 to $300.00 Certificates of Currency re Body Corporate Insurance (if required) - $50.00 Purchasing Property – What RK Lawyers will do for you 1. Advising you on the procedure relating to the purchase and statutory rights, including any "cooling off" period if appropriate, Stamp Duty considerations and financing of the purchase; 2. Reading and advising you on the Contract for Sale of Land; 3. Drafting any proposed amendments to the Contract and corresponding with the vendor’s solicitor; getting further instructions from you. Confirming status of finance; 4. Attending to your signing the Contract; and exchanging Contracts with the vendor’s solicitor; 5. Letter to you after exchange of Contracts; 6. Corresponding with your lender regarding requirements for finance; 7. Ordering and checking searches; 8. Corresponding with solicitor for vendor and raising Requisitions on Title; receiving replies to those Requisitions on Title and submitting those replies to you for approval; 9. Preparing Notice of Sale, Section 118 Notice and Transfer documents. Having Contract and Transfer stamped prior to settlement at the Office of State Revenue; submitting stamped Transfer and Section 118 Notice to solicitor for vendor for execution by vendor before settlement; 10. Contacting solicitor for vendor and the incoming mortgagee and making appointment for settlement; 11. Preparing settlement figures (the purchase price less deposit, plus or minus adjustments for rates) and submitting those figures to the solicitor for the vendor for approval; 12. Ascertaining from the solicitor for the vendor cheque directions for settlement; calculating cheques to be provided by your bank/mortgagee and providing these; preparing written direction to mortgagee as to payment of mortgage funds; calculating the amount required from you for settlement to proceed; 13. Attending on settlement with all the other parties representatives and handing over original directions, Final Search, bank cheques etc., and receiving and checking title deed, execution of Transfer, Discharge of any Mortgage, etc.; notifying the sale agent of settlement completion; 14. Providing you with a letter reporting after settlement summarising the transaction and the amount paid over on settlement and how that amount was provided. |
