Introduction
If you are new to buying and selling real estate, you may be feeling overwhelmed by the financial and legal processes that you are expected to understand. Having a trusted conveyancer in your corner throughout this process can make this a whole lot easier, but there are a few things you’ll want to understand when picking the best conveyancer. One of the most critical things to understand is the cost, and what it means to use a fixed fee vs. hourly rate conveyancer.
Conveyancing Pricing Structures
Conveyancing is the legal process of transferring property ownership from the previous owner to the new buyer, it’s a complex legal process that requires expertise to execute. Hiring a lawyer who specialises in conveyancing is the best way to ensure that this process goes smoothly.
In Queensland, there are several pricing structures that you are likely to see:
Fixed Fee Conveyancing
Fixed fee conveyancing is when you agree to an upfront, all-inclusive price at the beginning of the process. The cost may initially seem higher than hourly conveyancing costs in Queensland, but most often it will be more affordable by the end of the conveyancing process. Most importantly though, fixed-fee property conveyancing is the more transparent and upfront option.
Budgeting for the cost of buying or selling a home can be complex, and a fixed-fee conveyancer will give you full visibility of the complete price. Fixed-rate conveyancing services also allow you complete upfront visibility about the services that are included in the price, which means no unexpected costs throughout the process.
Hourly rate Conveyancing
As the name suggests, with hourly rate conveyancing you will be charged for every hour that a conveyancer spends on your property transfer. This type of charging can be cost effective for very straightforward processes, but it can also mean that the final cost is unpredictable and hard to estimate upfront.
Percentage of Property Value
Percentage of property value will mean that your conveyancing is charged as a percentage of the property’s sale price. This can get expensive for more costly transactions and can make the price hard to estimate if you are getting experts in your corner prior to your home’s purchase or sale.
Why choose fixed-fee conveyancing?
Not only is fixed-fee conveyancing going to be more affordable when you choose the right fixed-price conveyancing Queensland service, but it is also the most transparent and upfront option which will allow you to understand, assess, and agree to the total cost upfront, and without surprises.
The Components of Fixed-Fee Conveyancing
Conveyancing in Queensland is a multi-step process including:
- Title Search
- Plan Image
- Rates Search
- Water Search
- Land Tax Search
- Information Certificate (Unit Purchase)
There are sometimes additional steps in more complex conveyancing processes, but a great conveyancing lawyer will assess your situation upfront and provide a price that includes any additional stages.
Queensland conveyancing is governed by Queensland-specific legislation and has its own quirks and specificities that local experts will be familiar with and be able to navigate. One example is that in Queensland, only solicitors, who must be admitted to the Queensland Law Society, are able to practise conveyancing whereas in other states conveyancers can practise without needing to be a solicitor with different licensing requirements.
How to Choose a Fixed-Fee Conveyancer in Queensland
Experience and expertise
Local expertise is invaluable in ensuring your conveyancing process goes smoothly and that your conveyancer can provide the best service possible. At Bush to Beach Legal, we are among the top conveyancers Queensland, with local born and bred experts in offices across the state. We are located in Brisbane, Sunshine Coast, Bundaberg, Gold Coast, Townsville and Toowoomba, Logan and service all areas across Queensland.
It’s also important to consider the experience of the team you’re choosing. If your purchase or sale is more complex, then you want an expert in your corner who has done that before. Our team have experience with trickier and more advanced property situations, such as subdivisions and property development projects with a broad scope. We don’t only help individual homeowners.
Price
Buying or selling a home is one of the largest financial transactions most people are likely to make in their lives. Every additional cost can be significant as it adds up and conveyancing contributes to this. Finding affordable conveyancing services QLD goes back to transparency. With our complimentary review of the contract and individualised service, we offer real value for money. Chat to us for a free personalised quote that will include all the nuances of your transaction.
Services Included
Ensuring that you are getting a comprehensive range of services is critical with conveyancing, and selecting a fixed-fee conveyancer goes a long way here. One important step is a contract review at the start of the process so that your conveyancer has full view of the situation upfront, avoid any nasty, and potentially costly, surprises down the road.
With our complimentary review of the contract and individualised service, we are confident that our prices are competitive and represent real value for our clients.
Trust and communication
Buying or selling a home is complex, with lots of moving parts and generally lots of people involved. Having the right people in your corner will go a very long way towards giving you piece of mind throughout. We find that our complimentary initial contract review is a great way to ensure our clients are comfortable with their conveyancer and allows them to ask any questions they have about us and the process without pressure.
Customer Reviews
As with almost anything these days, looking at reviews from clients can tell you a lot about the quality of a business. At Bush to Beach Legal, we are thrilled that our clients leave such wonderful 5-star conveyancing reviews.
Common Misconceptions About Fixed-Fee Conveyancing
Fixed-fee conveyancing is more expensive
It can initially feel like fixed-fee conveyancing is more costly than other price structures because the cost is all upfront. The reality is that fixed fee provides transparent conveyancing fees that will end up costing less. Fixed-fee models are the most budget-friendly conveyancing in Queensland, and you’ll be able to make your decisions with all the facts right at the start of the process.
Quality of service is compromised
One common misconception about fixed-fee conveyancing is that the quality of service could be compromised compared to hourly-rate conveyancing. This belief stems from the assumption that a fixed price might lead to a reduction in the level of attention and care provided. There are two ways that you can ensure that you are receiving a great price and great quality of service.
The first is the services provided. If your conveyancer offers a review of the contract and factors all services into the price (which we do at Bush to Beach Legal as a complementary service), then you know that your conveyancer will not neglect parts of the process.
The second is feedback. If previous clients have had a great experience, so much so that they wanted to share that with their community, then you can feel secure in the quality of the service you will receive. You can read the numerous 5-star reviews left by our incredible clients here.
Fixed-fee conveyancing provides a limited scope of services
If you fear that your conveyancing situation may be too complicated for a fixed-fee conveyancer, look for local experience and expertise. With our combined decades of experience with Queensland conveyancing for all types of processes. Have a chat to us here to see how our no hidden fees conveyancing Queensland can help you navigate your home transaction.
Conclusion
For transparent, upfront, and stress-free conveyancing, choosing a fixed-fee price structure is the clear choice. You will have full visibility over the cost and the services provided by your fixed-fee conveyancer, which means no surprises down the line.
To have a chat with our local Queensland conveyancing team to see how we can help take the stress out of your property transaction, don’t hesitate to contact us today.
