Buying your First Home Buyer Conveyancing is a milestone and the realisation of the Australian dream. The property conveyancing process is the legal transfer of the title to your new home from the vendor to Haitch Convey. This involves a significant number of documents and is regulated by law. It is therefore important to engage the services of a reputable conveyancing firm.
How can I speed up my conveyancing?
A good conveyancer will provide a full breakdown of costs, including disbursements. These are fees payable to third parties for the purpose of conducting searches, complying with legal requirements and other administrative duties. These fees are not a fixed cost and can vary widely depending on the property value, the complexity of the transaction, the experience and reputation of the conveyancer, and the location of the property.
The best Melbourne conveyancers will be transparent and clear in their pricing. They should be available to discuss the transaction over the phone or via email and provide regular updates. They will also keep you informed of any changes to the schedule and explain how these may impact your overall costs.
There are a number of upfront and hidden costs when purchasing a property, the most significant being stamp duty. This is calculated by the state revenue office based on the consideration or purchase price of the property and can run into the thousands of dollars. However, first home buyers of established property or vacant land with a dutiable value of $600,000 or less are exempt from paying this fee. First home buyers also have the opportunity to apply for a first home owner grant valued at up to $10,000.