- Conveyancers handle the paperwork and red tape associated with a property transaction
- They can be engaged by both buyers and sellers to facilitate the transfer of property
- Conveyancers operate in every Australian state and territory except Queensland and the ACT where solicitors must handle property transfers
Conveyancers can cut through the legal jargon and red tape associated with buying a home. They also have training in spotting legal red flags involved with property purchases, such as easements, caveats, or covenants.
But what else does a conveyancer do and do you really need one? Read on to decide for yourself.
What is conveyancing?
Conveyancing is the legal process of transferring the official ownership of a land title to a new owner. The process involves preparing, verifying, and lodging various legal documents to achieve settlement.
As you can imagine, the process can be far from simple. A conveyancing transaction typically consists of three stages:
Pre-contract: A conveyancer will prepare documents relevant to the transfer of ownership, such as a contract of sale
Pre-completion: They will then ensure there are no legal complications and that everything checks out with the property’s title
Post-completion: Finally, they’ll ensure the sale is completed on the agreed date
Paperwork matters
If the appropriate paperwork isn’t correctly completed and submitted by the required dates, it can result in a property contract being voided. That could see you miss out on your dream home, at worst even forfeiting any deposit you’ve paid.
What does a conveyancer do?
A conveyancer is a trained and accredited professional who not only handles paperwork but provides advice and information related to the transfer of property ownership.
Conveyancers can assist both buyers and sellers through:
- organising and handling appropriate documentation required for settlement
- communicating with lenders
- identifying issues and obstacles
- providing advice where possible
Conveyancer vs solicitor: What's the difference?
You can't actually hire a conveyancer who isn’t also a solicitor in Queensland or the ACT – all conveyancers operating there must first be solicitors. Elsewhere in Australia, you'll be given a choice between hiring a conveyancer or a solicitor.
While conveyancers are trained and accredited professionals with a high level of expertise in their field, they are often limited in the services they can provide. A conveyancer who isn’t a solicitor can’t provide advice on matters of property law or assist you with the terms of your sales contract and tax for example.
If a legal dispute or issue arises during the settlement process, they likely won’t be able to help you further, whereas a solicitor generally can.
Who to choose
If you're not transacting in Queensland or the ACT, hiring a conveyancer can be adequate if your property sale or purchase is straightforward, you don't need any advice on property law, or you want a bit more support throughout the process. Conveyancers are experts at getting a property sale over the line and might focus on you a little more than a solicitor can.
On the other hand, a solicitor may be more suited to your needs if the property sale is going to be complex, you want advice or help with legal matters, or you don't mind the extra fee.
When to engage a professional
It’s recommended you use a conveyancer or solicitor when:
updating a title (e.g. if someone on the title passes away​​​​​​)
registering, changing, or removing an easement (a right to use the land)
Conveyancers or solicitors can:
check the property for any issues that might infringe on regulations or affect a buyer (such as unapproved structures or easements)
prepare and examine the contract of sale
advise on and manage the deposit payment, stamp duty, and other property ownership transfer costs
organise a land survey to ensure the boundaries of the property are accurately represented
Savings.com.au’s two cents
Although not as high profile as real estate agents, conveyancers play an extremely important role in the purchase and sale of a home.
Transferring property ownership can be highly bureaucratic and sometimes there can be pitfalls along the way. It can be an excellent investment to employ a trustworthy and qualified professional to navigate the process on your behalf. Although you are not legally required to appoint a conveyancer or solicitor to handle a property transfer, it can be money well spent.
How to find a conveyancer?
Word of mouth can often be a useful way to source a reliable conveyancer. Ask family, friends and acquaintances who may have recently purchased property about their experiences and whether they would recommend their conveyancer. Mortgage brokers may also be able to recommend trusted professionals.
You can also check out the Australian Institute of Conveyancers, the peak body representing registered, licensed, and practising conveyancers, to see if a suggested conveyancer is on the database.
It’s also worth noting, an accredited conveyancer is legally required to have professional indemnity insurance. This provides protection if they were to make a mistake or omission that could result in a customer taking legal action against them.
How to find a solicitor
If you’re looking to buy or sell property in Queensland or the ACT, you might want to check out the Queensland Law Society or the ACT Law Society.
You may also prefer to engage a solicitor if a property transfer is more legally complex than a standard transaction.
Do I need a conveyancer or can I do it myself?
A buyer or seller isn’t legally required to use a conveyancer in Australia, though it is highly recommended that they do.
There can be many moving parts to bringing a property to settlement, particularly when there is a financial institution involved or unexpected complications along the way.
For the novice, it can be a complex process and there is no legal recourse if you do something wrong.
DIY conveyancing?
That said, do-it-yourself conveyancing can save a considerable sum of money, with kits available for up to a few hundred dollars.
However, be warned, real estate laws and property ownership can be highly complex. Not adhering to the law or failing to meet deadlines throughout the process can have serious consequences, extending to losing your deposit or even your home.
In simple terms, just because you can go it alone doesn’t mean you should. Conveyancers are professionals for a reason and more often than not, it can be well worth the money to lean on one through the buying or selling process.
Although seemingly cheaper upfront, DIY-ing the conveyancing process could turn out to be incredibly expensive if done incorrectly.
How much does a conveyancer cost?
Conveyancing costs can vary significantly. The services on offer can also vary between conveyancers and their duties may differ between states and territories. As a ballpark figure, conveyancing fees typically range from $700 to $1,500 for a standard property transaction and most conveyancers charge a flat fee.
However, according to the conveyancer’s pricing policy, property buyers and sellers might face additional expenses known as disbursement costs. They’re costs incurred through the process of transferring your property that you’ll ultimately get billed for.
For example, those buying property in NSW might face disbursement costs for things like:
title searches
building certificates
drainage diagrams
council rate enquiries
council pool compliance or non-compliance certificates
The above list is by no means exhaustive and disbursement costs can vary according to the state or territory.
The price of some conveyancers may include these charges although others may bill you for it separately. It pays to get a clear breakdown of a conveyancer's costs prior to appointing one so you know what you’re getting.
How much does a solicitor cost?
Solitictors charge anywhere between $1,000 and $2,500-plus, typically billed by the hour. As such, the price will vary depending on the complexity of the transfer and the pricing models of different legal firms.
It's worth noting disbursements will be billed separately and must be paid on top of the solicitor's fee. Disbursements can be anywhere between $300 to $800 depending on the property type, location, and complexity of searches required.
How to find a good conveyancer
Like members of all professions, not all conveyancers are created equal. Here’s what a good one should do:
Research titles and records: Property contracts and title deeds are incredibly important documents, and a good conveyancer will meticulously pore over these to ensure there are no dodgy conditions or terms that you might not have seen. They’ll also clearly define the rights and obligations of the buyers and sellers to allow for a smooth transfer of ownership.
Give expert advice: A good conveyancer will proactively help you and provide their insight on the conveyancing process, rather than expecting you to ask the right questions. They should give you expert and practical advice at each step of the process.
Be quick and efficient: There are numerous essential and immoveable timeframes associated with property sales. A good conveyancer will adhere to these and finish the transaction in a timely manner.
Charge a fixed rate: Dealing with a conveyancer rather than a solicitor (not possible in Queensland) will typically come at a fixed cost instead of an hourly rate. A trustworthy conveyancer should provide a clear breakdown of their costs and charge a fixed fee.
Ask a potential conveyancer about each of these things before committing to their services.