Types of Costs


     
Professional Fees


Our professional fees represent the time involved by our firm for acting on your behalf throughout your Conveyance. Our fees are charged at a fixed rate (as quoted) and will not vary during the course of a normal conveyance.

If however it is necessary for us to vary your Contract, a dispute arises, or further negotiations are necessary we will notify you of any further charges that may be incurred.

You will find that the actual amount of time put in by our Practitioners and Conveyancing staff will far outweigh the fees to which we charge. Rest assured, although our firm provides competitive prices we ensure that each transaction is dealt with by experienced and professional staff. We do not believe in quantity over quality.

When instructing our firm you will be provided with:-

tick  A supervising Property Lawyer;

tick  A responsible Conveyancing Paralegal;

tick  Free Tracking and other OnLine services

tick  No hidden or extra costs

tick  And most importantly of all, the right advice!

The Conveyancing Protocol

On 1 July 2006 the Queensland Law Society in conjunction with Lexon Insurance (the professional indemnity insurer that all Lawyers in Queensland subscribe to) introduced a “Conveyancing Protocol” which set minimum standards for professional work to be carried out by Solicitors on behalf of clients in the conveyancing process.

The Protocol objective is to encourage and foster good conveyancing practices and standards in Queensland.

The Conveyancing Protocol was introduced as a result of:-

  •  Fees being charged for Conveyancing services which are below market rates and accordingly provide for a decrease in standards;
  •  An increase in the level of complexity and skill required in completing a conveyancing transaction over recent years; and
  •  Increased consumer protection legislation.

If a law firm does not comply with the procedures and standards set by the protocol that firm will not be covered by professional indemnity insurance which of course is a concern for any client instructing a legal practitioner.

Our firm is at all times fully compliant with the standards and procedures set by the Conveyancing Protocol. We pride ourselves upon the fact that we go beyond the minimum procedures to provide our clients with the highest standard of legal services.

Stamp Duty (Buyers Only)

When purchasing property in Queensland you are required to pay Stamp Duty. This is a tax imposed by the Queensland Government.

Upon receiving your instructions to act on your behalf we will assess the exact amount of Transfer Duty to which you will be liable.  We will also advise you whether you are entitled to a concession or exemption of the payment of Stamp Duty if you are, for example:-

  • A first home buyer; or
  • If the property will be your principal place of residence.

If you are entitled to a concession or exemption of Stamp Duty we will prepare the relevant forms for signing by you.

You should note that Stamp Duty must be paid within one (1) month of the conditions of the contract being satisfied (and/or prior to settlement if finance applies) or the Queensland Office of State Revenue will impose a monetary penalty for late stamping.

To find out more about Transfer Duty visit the Office of State Revenue’s website at http://www.osr.qld.gov.au

Search Fees (Buyers Only)

As Conveyancing in Queensland is based upon the principal of Caveat Emptor (Latin for “Let the buyer beware”) it is necessary to undertake various searches to find out information regarding your property. The amount of each search will vary depending on your local authority.

Typical searches would include:-

Title Investigation

  • Real property description, title reference, encumbrances, registered leases, location of land, caveats, lot entitlement, by-laws, details of progressive development of the scheme

Local Government

  • Rates information, town planning information (zoning, use, future use), position of sewerage and drainage pipes

Land Tax

  • Whether the property is subject to land tax, if there are arrears and the amount of arrears

Queensland Transport

  • Future development, current proposals, resumption information

Main Roads

  • Current proposal and future intentions for roads

Contaminated Lands

  • Determines if the land is on the Contaminated Land Register and any orders

Bankruptcy

  • The Bankruptcy Register should provide information concerning the name of bankrupt, dates of bankruptcy and orders.

Body Corporate Records Search (units only)

  • Levy information, by-laws, lot entitlements, insurance, details of management and letting agreement, referee’s orders, special levies

There are various other searches available to you. When receiving your instructions we will of course advise you of your options. If you choose to undertake additional searches we will make no additional professional charge for arranging for these enquiries, however there will be fees payable to the various government departments.