Conveyancing costs are not just one professional fee. A property purchase or refinance can involve conveyancing fees, searches, settlement fees, government charges, lender costs and final adjustments. Knowing the categories early helps buyers avoid surprises close to settlement.

The exact amount depends on the property, state or territory, transaction type and work required. A simple purchase may be more straightforward than a strata purchase, off-the-plan contract, company title, SMSF transaction or matter with unusual conditions.

Professional fees

The professional fee covers the conveyancer’s legal and administrative work. This usually includes reviewing the contract, advising on key issues, ordering searches, preparing settlement, liaising with the other side and lender, calculating adjustments and completing settlement.

Some quotes are fixed for standard work, while others may include extra charges if the matter becomes more complex. Buyers should ask what is included, what is not included and what disbursements or third-party costs are likely.

Searches and charges

Searches may include title, council, water, land tax, strata, planning and other property-specific checks. Government charges can include transfer registration, mortgage registration and duty. Electronic settlement platform fees may also apply where settlement is completed digitally.

Settlement adjustments are another important category. Rates, water, strata levies, rent and other outgoings may be adjusted so that buyer and seller each pay their share for the period they own the property. These figures are usually finalised close to settlement.

Refinance costs

A refinance is different from a purchase because ownership may not change. However, there can still be discharge fees, mortgage registration fees, lender charges, settlement fees and legal work to coordinate outgoing and incoming lenders. If the refinance also changes ownership, the costs and advice needed can be different.

A practical budget flow is: purchase price -> deposit -> duty estimate -> lender costs -> conveyancing fee -> searches -> settlement adjustments -> funds to complete.

This article is general information only and is not legal or financial advice. Fees, duties and search requirements vary by state, territory, lender and transaction, so buyers should get a transaction-specific quote and advice.