Category: Law

First Home Buyer ConveyancingFirst Home Buyer Conveyancing

Buying your first property is a huge step and there are many legal and financial factors that need to be considered. It is important to find a reputable and experienced conveyancer who can assist you with the process Haitch Convey. Here are some tips to help you choose the right conveyancer for your needs.

Does a conveyancer have to be local?

The cost of hiring a Melbourne conveyancer will vary depending on the type of property and its value. Higher property values usually mean more substantial transactions and increased conveyancing complexity, which may lead to higher fees. The experience and reputation of the conveyancer also have an impact on pricing. Choose a Melbourne conveyancer with a strong track record and who is professional, communicative and knowledgeable in the local property market.

One of the biggest hidden costs that first home buyers are often not clued in on is stamp duty. This is a tax levied by the state government and is calculated on the purchase price of the property. The amount of stamp duty varies from state to state and can run into the tens of thousands of dollars. First home buyers are also often eligible for a first home owners grant which can reduce the cost of purchasing an established property.

It is vital that the contract of sale is reviewed before settlement to ensure there are no unpaid rates, water charges or other debts against the property. This can delay the settlement process and result in additional costs to the buyer. Engaging a Melbourne conveyancer can help to avoid this and ensure that the contract settles on time.