When you are working out the cost of buying, selling or refinancing property, conveyancing is one of the expenses you need to allow for.
But how much does conveyancing cost in New Zealand?
There isn't one fee that applies to every transaction. The cost depends on what you are doing, the complexity of the transaction and the amount of work required.
Conveyancing Plus offers fixed fees for many standard property transactions. Before work begins, we explain what the quoted fee covers, what other costs may apply and which circumstances could result in additional work.
What Does a Conveyancing Fee Cover?
The work required will depend on the transaction.
For a standard property purchase, your conveyancing work may include:
Reviewing the Sale and Purchase Agreement
Checking the property title
Managing agreement conditions
Liaising with your bank or lender
Preparing the necessary legal documents
Completing the property transfer
Managing settlement
Reporting to you when the transaction is complete
Selling a property involves a different set of tasks, while refinancing requires work involving your existing and new lenders and the mortgage registered against the property.
Your quote should explain what work is included for your particular transaction.
Are Conveyancing Fees Fixed?
They can be.
At Conveyancing Plus, fixed fees are available for many standard property transactions.
A fixed fee can provide greater certainty about what the legal side of your transaction is likely to cost.
However, not every transaction is standard.
A purchase involving a trust, company, unusual title issue or ownership arrangement may require more work than a straightforward residential purchase.
That is why it is important to explain your circumstances when requesting a quote.
What Are Disbursements?
Your conveyancing fee is not necessarily the only cost associated with the legal work.
There may also be expenses paid to other organisations as part of completing the transaction. These are commonly known as disbursements.
Depending on the transaction, they may include:
Land Information New Zealand registration fees
Property title searches
Identity verification
Council or company searches
Bank-related charges
Document or courier costs
When comparing conveyancing quotes, it is worth checking whether quoted prices include or exclude likely disbursements.
Why Can Conveyancing Costs Vary?
Two people may both be “buying a house”, but their transactions can involve very different amounts of work.
Additional complexity may arise because of:
Trust ownership
Company ownership
Multiple purchasers
Co-ownership arrangements
KiwiSaver requirements
Title issues
Unconsented building work
Changes to the Sale and Purchase Agreement
Finance complications
Urgent deadlines
Unexpected settlement issues
These factors may require additional investigation, documentation or communication.
What About Buying and Selling at the Same Time?
If you are selling one property and buying another, the transactions may need to work together.
For example, funds from your sale may be required to complete your purchase.
Your conveyancer needs to coordinate the legal and financial requirements of both transactions and work with the banks and other conveyancers involved.
When requesting a quote, make sure you explain that you will be buying and selling so the work can be priced appropriately.
Does Using KiwiSaver Cost More?
A first-home purchase involving a KiwiSaver withdrawal requires additional documentation and coordination.
The amount of work will depend on your circumstances and provider requirements.
If you intend to use KiwiSaver towards your purchase, tell your conveyancer when requesting a quote so this can be taken into account.
It is also important to start the KiwiSaver withdrawal process early rather than leaving it until settlement is approaching.
How Much Does Refinancing Cost?
Refinancing generally involves discharging the mortgage registered in favour of your existing lender and registering a new mortgage for your new lender.
Your conveyancer also needs to complete the lender's requirements and explain the relevant documents to you.
The cost may increase where the refinance involves additional complexity, such as changing property ownership, transferring property into or out of a trust, company ownership or using several properties as security.
Why Might My Quoted Fee Change?
Sometimes the nature of a transaction changes after work has started.
For example, an unexpected title issue may arise, finance arrangements could change or additional documents may be required.
At Conveyancing Plus, if circumstances change and additional work is required, we aim to discuss this with you and explain any additional cost before carrying out further work wherever possible.
Is the Cheapest Conveyancing Quote the Best Option?
Price is understandably important when buying or selling property, particularly when you already have numerous other expenses.
But the fee is only one consideration.
Property transactions can involve significant financial commitments. You also want someone who will look closely at the details, explain what you are agreeing to and raise potential concerns when something does not look right.
A conveyancer is not simply there to process paperwork. Their role includes helping you understand the transaction and make informed decisions.
How Do I Get an Accurate Conveyancing Quote?
Give your conveyancer as much information as possible.
Tell them whether you are:
Buying
Selling
Buying and selling
Refinancing
Using KiwiSaver
Purchasing with other people
Using a trust or company
Transferring ownership
Working to an urgent deadline
If you already have a Sale and Purchase Agreement or other relevant documents, mention this too.
The more your conveyancer understands at the beginning, the easier it is to explain the likely work and costs.
Want to Know What Your Conveyancing Will Cost?
Conveyancing Plus provides fixed fees for many standard property transactions and clear quotes explaining what is included.
See Our Conveyancing Fees →
Or contact our Waiuku or Pukekohe team and tell us what you are planning so we can explain the likely costs.
