Under the Conveyancers Licensing Act 2003 it is a legal obligation that all licensed conveyancers disclose the costs and other matters in relation to the service they are offering you upfront when you request a conveyancing quote. This disclosure to the client must include:
- the amount of the costs if known
- the basis of calculating the costs (if the amount of the costs is not known)
- the billing arrangements
- the clients rights in relation to the hearing of disputes about the fees by the Tribunal
- any conflict of beneficial interest of a kind required to be disclosed by the regulations
- any other matter required to be disclosed by the regulations.
Under the Act all disclosures must be made in writing and expressed in clear plain English. This disclosure is your conveyancing quote and should be received prior to any undertaking of conveyancing work. The conveyancing quote must be agreed upon by both conveyancing and client. Also, if your conveyancer does not fully disclose all costs in a conveyancing quote then they have failed under section 36 of the Act and therefore the client does not need to pay any costs for the conveyancing work and the case may go to the Tribunal.
Most of the conveyancing companies have a full understanding of conveyancing and the rules and regulations as stated in the Conveyancers Licensing Act 2003. They will ensure that all clients are fully disclosed on all matters regarding their conveyancing requirements and this is presented to clients in the form of a conveyancing quote. Disbursements will also be set out in your conveyancing quote and some of these disbursements may include:
- Sale Disbursements:
o Title Search
o Drainage Diagram
o Section 149 Certificate (zoning certificate)
o Section 88g Certificate (positive covenant if required)
o Telephone costs
o Postage costs
o On Line Services
o Photocopying
o Settlement Fee
- Purchase Disbursements:
o Property and Rate Enquiries
o Telephone costs
o Postage costs
o On Line Services
o Photocopying
o Certificate of Currency (strata if required)
o Settlement fee
o Stamping fee
o Final Search
- Other Disbursements (not included in our fees)
o Pest Report
o Building Inspection Report
o Strata Report
o Survey Report
o Registration fees
REMEMBER all conveyancing quotes should be set out in an easy to read and understandable format that is in plain English and is in a written format. It should also fully disclose all costs involved in your conveyancing and your conveyancing company should always honor the conveyancing quote they delivered to you.