Written by James Hurwood
Reviewed by Stephen Zeller
Last updated 19/10/2023
Your conveyancer will likely be invaluable to you during the home-buying process, but finding one to begin with can be easier said than done. With that in mind, our General Manager of Money, Stephen Zeller, has some tips for finding and picking your conveyancer:
A conveyancer is someone you should feel comfortable to reach out to anytime with any questions your Home Loan Specialist/Lender cannot assist you with. A conveyancer charges you a fee to assist you, so if you do have any questions or wish to clarify with them, feel free to contact them for assistance.
You’ll find fees can vary greatly from one conveyancer to another, so be wary that sometimes the cost of the service can reflect the level of the service. Buying a home can be quite stressful, so make sure you feel comfortable with the conveyancer you pick, as the level of service they provide you can make a meaningful difference to your journey.
Friends and family may have already utilised a conveyancer when purchasing a property in the past, and they may be able to recommend you one who has provided them with a positive experience.
A conveyancer is a legal professional (often but not always a solicitor) who is qualified in conveyancing – the transfer of property ownership between parties. The instrument through which ownership is conveyed is known as the property’s legal title, which must be transferred from one party to another after the contract of sale has been finalised for the buyer to be legally recognised as the new owner of the property.
A licensed conveyancer can also be called on to help update (rather than transfer) a property’s legal title, modify an easement or handle the legal aspects of a subdivision.
Having a conveyancer in your corner as early as possible can be invaluable for a number of reasons, including:
A conveyancer is only qualified and legally allowed to provide stipulated conveyancing services, whereas a solicitor is a fully qualified lawyer who can typically advise and assist with a much broader range of matters, both general and to do with property law.
Before you engage someone to assist with your property transaction, you should ask for an estimate and breakdown of costs from a handful of conveyancers or solicitors so you can make sure that the person you engage is providing you with adequate value for your money.
N.B: All conveyancers are conveyancing solicitors in Queensland and the ACT, as conveyancers in those jurisdictions are required to hold a law degree.
During the homebuying process, a conveyancer will generally be expected to handle their client’s legal responsibilities and obligations, which include:
The cost of a conveyancer will vary from state to state and from conveyancer to conveyancer. However, according to the Queensland Government, conveyancing fees can range from $600 to $1,500.1
The overall cost of your conveyancing fees may be influenced by factors like:
However, conveyancers will typically charge a flat fee for their basic services, and then tack on extra charges for any required additional or out-of-scope services.
You are not legally required to hire a conveyancer when purchasing a property. However, while you could save yourself a significant chunk of change by doing it yourself, you may have a tough time handling all the legal work and financial loose ends that a conveyancer would normally take care of on your behalf.
Furthermore, if you decide to go at it alone and end up missing an important deadline or obligation, you could end up losing your deposit, your future home or even both. So, while you don’t have to hire a conveyancer to buy a home, going alone generally isn’t for the faint of heart.
You’re not legally required to hire a conveyancer when selling a property either but, as with buying a property, the process is complex enough that most sellers opt to hire a conveyancer rather than handle the legal work themselves.
Several issues can potentially pop up during the conveyancing process that could impact the conditions or legality of your purchase, or what you can legally do with the property once you own it. These issues could potentially be related to:
These are just examples, though; every buyer and buying process is different, and you may run into none, some or all of the above complications. It’s generally best to have a conveyancer on hand just in case, because you’re always better safe than sorry.
As a conveyancer will typically be responsible for managing your saved deposit and moving your money around where it’s needed, their costs will generally be deducted from the saved deposit. You’ll need to keep this in mind when assessing the size of your deposit, as it may affect your borrowing power and/or your potential LVR.
If you’ve decided to engage the services of a conveyancer, there are some things to keep in mind and consider asking of any conveyancer you’re considering working with:
Some real estate agents or mortgage brokers might recommend conveyancers they’ve worked with in the past. You may want to go with them for convenience but remember you can always compare your options and explore alternatives.
In addition, friends and family are often a good source for advice and may recommend a specific conveyancer, which could make the search a little easier.
Once you’ve found a conveyancer you’re happy with, they’ll request any information and documentation they need to help you secure the property. You don’t usually need to visit the conveyancer’s office, as documentation can be sent by post or e-mail. However, you can organise a time to meet in person if you prefer.
Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).
Stephen leads our team of Home Loan Specialists, and reviews and contributes to Compare the Market’s banking-relating content to ensure it’s as helpful and empowering as possible for our readers.
1 Queensland Government. Costs of home ownership. 2023.
