Fees & Costs in NSW Property Transactions

Conveyancing Fees

 

Conveyancing fees generally relate to the professional work involved in managing a property transaction from contract through to settlement.

 

These fees may reflect:

• The complexity of the transaction

• The type of property involved

• The work required before and after exchange

• The level of communication and coordination required

 

Fees are typically agreed in advance and outlined in a cost agreement provided at the commencement of a matter.

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Disbursements

 

Disbursements are out-of-pocket expenses paid to third parties during the course of a transaction.

 

Common disbursements may include:

• Title and property searches

• Strata inspection reports

• Council and water authority certificates

• Electronic settlement platform fees

 

Disbursements vary depending on the property and transaction type.

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Government Charges and Duties

 

Property transactions may also involve statutory charges imposed by government authorities.

 

These can include:

• Transfer duty (stamp duty)

• Registration fees

• Title registration costs

 

Government charges are separate from conveyancing fees and are generally paid prior to or at settlement.

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Additional or Variable Costs

 

Some transactions may involve additional costs due to specific circumstances, such as:

• Urgent timeframes

• Off-the-plan contracts

• Commercial or complex matters

• Amendments or variations to contracts

 

Where additional work is required, this is usually discussed in advance.

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Transparency and Cost Agreements

 

Before work begins, clients are typically provided with a written cost agreement outlining:

• Professional fees

• Estimated disbursements

• Billing arrangements

• Any assumptions or exclusions

 

Cost agreements help ensure transparency and provide clarity about expected costs.

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Planning Ahead

 

Understanding the different types of costs involved in a property transaction allows buyers and sellers to budget appropriately and plan for settlement.

 

As every transaction is different, costs may vary depending on individual circumstances.

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Important Note

 

The information provided on this page is general in nature and does not constitute legal or conveyancing advice. Fees and costs vary depending on the transaction and individual circumstances.