Recommendations for Conveyancers around Bankstown

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  smuggler on 18/02/2018 - 12:15

  how much would a 2/3 bedroom unit in bankstown set you back?

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    idonteven on 18/02/2018 - 12:28

    Looking at 2 bedroom units around 500.

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  Butt Scratcher on 18/02/2018 - 12:35

  What do you mean by how many contracts? You're buying so the vendor preps the contract and your conveyancer negotiates it with the vendor, usually it's just asking for certain special conditions modified. Most of the negotiation is over penalty costs. Unless there's a business or lease attached to it or something it's just gunna be that one contract.

  Conveyancers usually charge a fixed fee unless there are complications which arises.

  Most conveyancers/lawyers (i think) should allow you to just nominate a cheque to be issued to them at the time of settlement for legal costs. So you don't even need to pay upfront costs.

  You don't have to do much really, sign the transfer, sign the contract, tell the agent (if there's one involved) to direct their sales advice to your conveyancer and make sure you have all your financing in order (which is generally the cause of most delays, which means more cost for you).

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    idonteven on 18/02/2018 - 12:43

    So let's say I've got a place in mind, have spoken to the vendor and agent, they send me the contract, I send that over to my conveyancer but later on I change my mind or find a better place. That's what I mean by "how many contracts".

    Or, do I send the contract to the conveyancer only after the vendor accepts my offer and I make a deposit?

    Hopefully you can understand what I mean because this is all new to me. Thanks for your input.

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      Butt Scratcher on 18/02/2018 - 12:59

      So for an auction you are expected to read the contract and possible negotiate before bidding, as you can't negotiate afterwards. Not too sure how willing a vendor is to negotiate with every interested buyer before an auction though. In this circumstance you would very likely have to pay something upfront, because it is very uncertain whether your conveyancer get the work or not.

      As for private sales, it depends on the conveyancer really. Some won't need a deposit upfront because by the time you get to your conveyancer you should've already agreed to buy the house at a certain price. But as I said, most of the negotiation is really just over penalties so there isn't much to worry about if you've properly secured your finances.

      Also keep in mind that particularly if you are buying older houses, some banks might force you to perform a building inspection before approving your finances. So in that case, maybe make sure u set aside money for that because they can be pretty costly

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      Butt Scratcher on 18/02/2018 - 13:26

      Oh, i just want to add to that because i've left out something important.

      It doesn't take very long for the conveyancer to go through the contract with you to point out important things about the property, as the vendor is required to make all the appropriate searches before putting it on the market. You will find some will ask for a consultation fee, some won't if you are willing to go ahead with it

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      enzioFirenze on 18/02/2018 - 14:17

      an interesting question about how many contracts, it really depends on the conveyancer. My one is happy to look at as many contracts as I send his way as long as he does the conveyancing of the property I'm gonna get. Realistically though, you are only likely to send him 3-5 contracts before you zero in on one as you kinda really need to like a property to get the strata report / contract and get it looked by the conveyancer.