The anxiety that you feel before buying a house is completely natural. After all, this is a huge step and requires a good amount of financial commitment for the next 10 to 15 years. A daunting task such as this cannot be done on your own. For this, you need a property conveyancer whose expertise and experience will not just ease your worry but will also help you have your dream house.
Conveyancing fee is usually divided into two parts: Disbursement and the legal fee of the conveyancer. Disbursement is the cost, which the conveyancer has to pay to the third party, title deeds, searches, bank transfers, stamp duty etc. It’s a lot right? These charges fall anywhere between from $500 to $1000. However, this is not what we are here to discuss! Let’s move on to the subject at hand:
Fixed Fee Property Conveyancing
The one thing that most first-time home buyers are worried about is the conveyancer’s fee. Many people do not have the budget to pay the conveyancer according to hours, which is why they end up tackling the process on their own. Not involving a conveyancer in the process has its disadvantages such as the transfer of title, which might need a background check to make sure that the deed is not a fraud.
Other things such as closing costs, warranties, mortgage, etc, are what first-time home buyers struggle with. Companies such as MyPlace Conveyancing know that buying your dream house can be very difficult, therefore a service such as this helps buyers to manage their finances at the start with just an upfront cost.
So, where does fixed fee property conveyancing fix in?
Well, fixed fee property conveyancing gives buyers the ease to pay a lump sum amount at the start of the process. The reason why this service type is so popular is because the buyer does not have to worry about ongoing costs.
Advantages of Fixed Fee Property Conveyancing
- Reduces uncertainty about conveyancing costs: You no longer have to worry about paying extra in legal fee or for any other documentation
- Helps you with your budget: With a fixed-fee, you can plan your budget and set money aside for future repairs and remodels
- Helps you assess costs: You can weigh the benefits and the costs at every step of the process
- Work is done faster: When the contract is signed, you are only paying for a certain time period, in which the conveyancer has to do his job and get you the house
- Documents are signed and stamped within the legal fee
The fee charged on timely basis often puts buyers in a financial peril. They have no idea how long the buying process will go, for which they have to be ready to pay an unforeseen amount of cash at the end. On the other hand, if they go for fixed fee property conveyancing, they can let go of the stress associated with legal matters.