Conveyancer provides quite a number of services to their clients. Some of the services provided include the following:
- Buying or selling a property
- Land subdivision
- Registering, removing or changing an asset
- Updating a title e.g. death registration
The services offered above are offered by most solicitors if not all of them. The sale or buying of the property has the buyer and the seller and in some cases a real estate agent in between. With the help of the conveyancer, the sale is made legally binding. They carry out different functions both for the buyer and the seller.
What a conveyancer does for the buyer
- They prepare the legal document and provide any advice on the sale. They also clarify and lodge the documents on behalf of the client.
- Do the research of the property and the title document, check for easements and any other information that needs to be addressed before the sale begins
- Undertake the deposit on behalf of the client and put it in a designated account
- Represent the interests of the client in the sale process
- Calculate the taxes and the land rates
- Settle the property on behalf of the client, advise them on the settlement, keep in contact with the financial institutions when the payments are being made
For the seller:
- The conveyancer will complete the legal documents presented and ensure they are all in order
- Represent the client by keeping in contact with the buyer and respond to their requests e.g. queries on the property and date extensions
These services can be offered at a time or each with a different price tag. Most conveyancers charge each service at a separate cost and give quotation with well-structured fees so the client can know exactly what they are paying for.
The cost of the service will depend on the complexity of the matter. As a conveyancer, you can charge a flat rate or ask for a percentage of the value of the home in the case of a sale. You can also charge at an hourly rate, which can earn you a lot of money if the time frame is not solid.
Extra fees may also come up. In some cases, there are extra fees if unforeseen issues arise during the sale or purchase behalf of the client.
Many clients often try to get different quotations from various conveyancers to eliminate any extra costs, so it is important to be on board with the industry trends in order to remain competitive in the business. The trick is to not compromise on the quality of work for a cheaper quotation. You can use real estate agents to get recommendations although they may charge a commission for referring clients to you and this will affect the overall charge to the client. Keep your rates simple and straightforward to keep the clients coming.