Selling a house in Australia involves more than just finding a buyer and accepting an offer. Even if you decide to skip the real estate agent and list your property with For Sale By Home Owner, you will still need to handle the legal side of the transaction. Understanding the conveyancing and legal fees involved is essential for planning your budget and ensuring a smooth property sale.
Understanding Conveyancing and Legal Services
When you sell a home, you must legally transfer ownership of the property to the buyer. This process, known as conveyancing, involves preparing the contract of sale, ensuring all legal disclosures are included, managing settlement, and lodging relevant documents with government authorities.
You can hire either a licensed conveyancer or a solicitor to manage this. While both perform similar tasks, solicitors can offer broader legal advice, especially if the transaction becomes complex. For a straightforward sale, a conveyancer is often sufficient and more cost-effective.
Typical Conveyancing and Legal Fees
In Australia, conveyancing and legal fees for sellers typically range from $800 to $2,000, depending on several factors such as:
- State or territory: Costs can vary slightly depending on local laws and requirements.
- Property complexity: Selling a standard residential home is generally cheaper than selling a property with shared titles, easements, or zoning issues.
- Conveyancer vs solicitor: Conveyancers usually charge less, around $800 to $1,200, while solicitors may charge $1,200 to $2,000 or more for complex matters.
Keep in mind that these fees usually include the preparation of the contract of sale, property searches, liaising with your mortgage lender, and attending settlement.
What’s Included in the Fees?
Here’s what you can generally expect to be included in your conveyancing or legal fees:
- Drafting and reviewing the contract of sale
- Managing disclosures and special conditions
- Coordinating with the buyer’s legal representative
- Handling settlement arrangements
- Ensuring that rates, taxes, and utilities are adjusted correctly at settlement
- Discharging any existing mortgage or caveats
Some service providers offer all-inclusive pricing, while others may charge extra for certain services such as urgent settlements, extensive title searches, or dealing with heritage-listed properties.
Additional Legal Costs to Consider
While your main legal expense will be conveyancing, there are some additional legal-related costs that may arise:
- Bank discharge fees: If you still have a mortgage, your lender may charge a discharge fee, usually between $200 and $400.
- Settlement agent fees: These may be included in your conveyancing package or billed separately if you use a different service provider.
- Statutory charges: Some local councils charge for rates adjustments or certificates needed for the contract of sale.
Being aware of these costs helps you avoid surprises and stay in control of your selling budget.
Marketing Costs When Selling Privately
Many sellers who choose to go through For Sale By Home Owner focus heavily on reducing commissions—but it’s just as important to plan for marketing costs when selling. These can include:
- Online property listings (through realestate.com.au and domain.com.au)
- Professional photography
- Signboards
- Social media advertising
- Video walkthroughs or 3D tours
Packages from For Sale By Home Owner can start as low as $699, offering excellent value compared to traditional agent commissions. Depending on your chosen services, marketing costs when selling a home privately can range between $500 and $1,500.
Final Thoughts
While going the private sale route with For Sale By Home Owner can save you thousands in agent commissions, it's important not to overlook the conveyancing and legal fees that are still necessary to complete your property transaction legally and efficiently. By budgeting around $1,000 to $2,000 for conveyancing and understanding your marketing costs when selling, you can manage your sale confidently and cost-effectively. With the right support and professional guidance, your home sale can be both smooth and financially rewarding.
