What is a Conveyancer?

A Conveyancer is a Para legal professional who does all paperwork associated with buying and selling property. In our opinion, a tried and tested Conveyancer will have a network of offices, be accredited by the Victorian Conveyancing Association and have solicitor backup.

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Are there 'Cowboys' in the industry?

Yes, our business has unfortunately dealt with many people who have no idea what they are doing.

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Can I protect myself against this?

Our advice is stay clear of Conveyancers who are home based, not accredited, have no professional indemnity insurance, solicitor backup or a proven track record.
Low Cost Conveyancing Services have a network of offices, dedicated staff to the job at hand, full accreditation, solicitor backup and a proven track record. We are not pre occupied with 'picking up the kids', not enough phones to answer your calls, unable to help or untested. Thousands of happy customers keep coming back and refer their friends and associates to us.

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What is Conveyancing?

Conveyancing is the transfer of ownership of any property or real estate from one person to another. Conveyancing not only applies to those purchasing or selling properties, but can also be the result of a gift or a devise by Will. The role of Low Cost Conveyancing Services is to ensure that a clear title is conveyed with minimum complication and peace of mind to the client.

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What is the first step?

Get in contact with Low Cost Conveyancing Services at one our 3 offices or have the Real Estate Agent fax the contract directly to our office. (See our contact details on the home page.) We will guide you through the maze of procedures and turn the whole experience into a fun, exciting and pleasurable transaction.

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What are Stamp Duty and Registration fees?

Stamp duty is a tax you have to pay when you buy a property in Victoria. Registration fees are another 'tax' you pay to have the title put into your name. You don't have to pay these when you sell.

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When do I pay the Stamp Duty and Registration fees?

If you are purchasing a property and are borrowing funds from a lending institution, the lender will usually take out the Stamp Duty and Registration Fees, together with any application fee from the loan, before, settlement. We only know of one lender that takes it after settlement. Check with our office for full details. If you are using your own money and no lender is involved to buy the property, Low Cost Conveyancing Services will attend to the Stamping and Registration of your title after settlement.

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Is there anyway I can get out of paying the Stamp Duty and Registration fees?

Yes! But usually you must be eligible for an exemption from the tax. Ie. You are a First Home Buyer; you have a Concession Card or have another acceptable Concession Card. To check whether or not you qualify for these benefits, you should contact this office. Don't forget if you are a First Home Buyers and have a family you may be eligible for even further exemptions!

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Buying subject to finance: Can the Vendor withdraw from the Contract?

You must insure that your finance is approved formally as opposed to a 'Pre Approval'. If you need more time we will be able to arrange this for you. Often the owner will be just as keen to continue with the sale, as you are to purchase. As long as you comply with the conditions of the Contract, an extension can be requested. If the Vendor will not grant this extension, it is the Purchaser who has the option to withdraw from the Contract and get your deposit back. If the Purchaser does not wish to withdraw, then the Contract of Sale will become unconditional and the purchase will proceed to settlement. Speak to our office for full details.

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What about the deposit?

You must always pay the deposit by or on the day it is due. Be guided by the contract. When does it say you have to pay it by? Even if you're still waiting for your finance to be approved, you must still pay the deposit. Contact our office for full details.

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What are Disbursements?

Disbursements are monies paid out by Low Cost Conveyancing Services for information. They include obtaining a Title Search, and Property Enquiry Certificates prior to settlement. The amount of Disbursements will vary depending on whether or not you are purchasing or selling a property. For example, a certificate obtained from the local municipal council (Land Information Certificate) incurs a fee of $20.00. Low Cost Conveyancing Services usually include the cost of standard disbursements in our quote to you.

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What are adjustments?

Adjustments are basically working out what the owner has paid or not paid, towards rates on the property. Low Cost Conveyancing Services will complete this prior to settlement and advise you accordingly. Each situation is different and will give you information accordingly. We will explain to you how they work towards the end of the transaction and they can be quite confusing.

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What time is settlement?

Low Cost Conveyancing Services can in most cases, give a time for settlement at around one week prior to the settlement date. Sometimes we can only find out about 3 days before settlement. It largely depends on the vendors' representative. We try and cater for all circumstances, so don't forget to tell us in advance what you suits you. Don't forget, you don't need to go to the settlement. We will do this for you.

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I've sold my property, when do I get my money?

In most cases you can have your money deposited into your nominated account on the day of settlement. If you are receiving a cheque for the balance, it's usually the next day. We will discuss your options with you prior to the settlement day.

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Professional Indemnity Insurance.

In accordance with Section 330(1) of the Legal Practice Act 1996, this business holds Professional Indemnity Insurance against civil liability in connection with all conveyancing work performed in the course of this business.

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