Frequently Asked Questions

 

It’s likely you will have unique questions for your own situation, but here are a few clients have asked in the past that may assist you.

 
 


How much does a conveyance cost?


Costs for conveyancing vary depending on the complexity of the conveyancing, and whether you are buying or selling. Cameron Conveyancing works with minimal margins to keep costs affordable but also avoids charging at the cheaper end of the cost scale, as conveyancing requires time – read: no cutting of corners.


When do I pay for my conveyancing?

For a purchase, fees and disbursements are paid at settlement. For a sale, some upfront disbursements may be required to cover title searches, government and owner’s corporation certificates, which are necessary for correct disclosure.


Why should I choose a conveyancer?

A conveyancer is solely responsible for property conveyancing so, in many respects, they are uniquely positioned to handle your conveyancing requirements, as opposed to someone who may be working more generally across the law. Given a conveyancer's focus on conveyancing, they do not have other responsibilities, such as attending court, that could potentially slow down your conveyancing process.


How long is the conveyancing process?

You can expect a conveyance to take approximately four to six weeks before the transaction is complete. It takes this amount of time for the contract to move through a number of stages, including any searches that may need to occur.


Are my interests protected when using a conveyancer?

Yes, conveyancers are trained, qualified and licensed for conveyancing. Additionally, all conveyancers must have professional indemnity insurance to protect against errors and any financial expenses that could occur if an error was to be made.


What is a disbursement?

Expenses incurred as part of property settlement are known as disbursements. These disbursements may include government and title searches, settlement fees, building inspections, strata reports and sundries, to name a few examples.

Note: these disbursements are separate to your conveyancing fee. Cameron Conveyancing makes a point of keeping you abreast of any disbursements – potential or otherwise – so you are fully informed of all costs of settlement.


What is a cooling off period?

‘Cooling off’ is the name given to a period of three business days after the signing of the Contract of Sale, within which either the buyer or seller can choose to terminate the contract without any consequences. This is an important time in the process.


What happens at settlement?

At an agreed date and time, legal representatives for buyers and sellers – together with the relevant banks or financial institutions – sign off electronically to a Ready Status. Settlement automatically commences at the nominated time. The electronic process completes all legal and financial requirements. During this electronic process, monies are paid to banks, sellers, council, water or similar authorities. Applicable stamp duty is also paid, while transfer and mortgage documents are registered.

Once settlement has taken place, the selling agent can release the keys to the purchaser. The conveyancer/lawyer who represents the buyer is then responsible for notifying all relevant authorities that the property settlement has taken place.