The basic facts and answers to your questions
If you’re new to the concept of conveyancing, if you’re buying or selling your first property, then you might have some questions about the subject.
We often come across the same queries in our role as property lawyers, so we’d like to take the opportunity to answer them for you.
The questions answered in this article will spell out the basics of conveyancing.
It will provide you with more information to help you develop confidence in your ability to make the right choices for you and your property.
It all starts with hiring the best Melbourne property lawyers you can afford to ensure all legal details are taken care of.
At P&B Law, we have highly experienced lawyers with expertise in property law to ensure your property transaction goes smoothly.
FAQ 1: Why do I need Melbourne property lawyers?
There are many reasons why you need property lawyers.
Conveyancing, the transfer of property ownership from one person to another, seems quite simple.
You might think I could even do this myself.
But that is a dangerous thought.
Melbourne property lawyers like us at P&B Law have extensive training in legal matters about buying and selling property.
It’s not as simple as preparing some paperwork. You need to speak fluent legalese so that you know what the paperwork means.
That’s why you require lawyers on your team.
They can do things like:
- Translate jargon, so you know what’s going on
- Research potential council or other issues with the property
- Place your deposit in a trust account
- Ensure the property is settled properly
Read more about why you need a property lawyer in Melbourne.
FAQ 2: Do I need a property conveyancer or a property lawyer?
While essentially, the process of conveyancing can be conducted by either a conveyancer or a lawyer, there are differences in the service you will receive from these professionals.
Here’s what you get from conveyancers
- Preparation of legal documents
- Ensure legal documents comply with state regulations
- Research property and certificate of title
- Place deposit in a trust account
- Advice on conditions of sale
- Must have a diploma and conveyancing licence to operate in Victoria
Here’s what you get from Melbourne property lawyers
- Preparation of legal documents
- Ensure legal documents comply with state regulations
- Research property and certificate of title
- Place deposit in a trust account
- Advice on conditions of sale
- Legal advice on wider implications of purchase or sale
- Legal representation in court
- Must have a Bachelor of Laws or Juris Doctor degree
- Must have a graduate diploma in practical legal training
- Must be accepted by the admissions board in Victoria
Different professionals for property conveyancing in Melbourne are ideal for varying scenarios.
If your property conveyancing transfer is likely to be a simple affair, then you may save money by opting for a conveyancer.
However, suppose your property conveyancing transfer will require substantial legal advice. In that case, if your legal situation is complex, or if you are buying or selling a property that may have significant legal ramifications, you need experienced Melbourne property lawyers.
Read more about the differences between Melbourne property lawyers and conveyancers.
FAQ 3: How much will I have to pay?
There is no industry standard when it comes to costs for property conveyancing.
Each conveyancing professional can establish their fee structure.
Therefore, some conveyancers or Melbourne property lawyers are cheap, while others are comparatively more expensive.
Property conveyancing in Victoria commonly costs between $600 and $1500.
Factors that affect the cost of property conveyancing include:
- The value of your property
- The property type
- Your choice of conveyancer or property lawyer
Consumer Affairs Victoria requires conveyancers to provide expected fees at the outset of working with a client.
If they can’t do that, then they must at the very least disclose how their fees are calculated.
Read more about property conveyancing costs.
Contact us at P&B Law for expert property conveyancing
If you’re looking for experienced Melbourne property lawyers, look no further than P&B Law.
We’ve been in the legal field for close to thirty years, helping our clients to get the results they desire in property.
If you’d like to buy or sell a property successfully, we can help. Contact us today..