By Jack Nevile
Victorian Property Update – September 2025
Should you use a conveyancer or a lawyer for your property sale? Often consumers don’t recognise there are different business models in conveyancing – one which charges you a full price up front, and another with a ‘’headline’’ low price and sneaky costs along the way. Let me tell you a recent story.
A Vendor verbally asked my Purchaser client if we could bring settlement forward by two weeks. As a favour, my client agreed. The Conveyancer’s contract said that a $220 fee would apply.
We asked the Vendor’s conveyancer and said that we don’t want to pay $220 but that agreeing would save their own client about $1,000 in mortgage repayments, rates, and foregone interest. Surely a win-win!
Not quite. They said:
‘’Hi Jack, we note you are comparing [our client] saving money to our office doing work for free’’
One may ask if the 30 seconds it takes to change a settlement date is worth $220 (it isn’t), then the Vendor would surely be happy to pay, given we were doing them a favour. Alas, they didn’t feel the need to charge their own client. My client did not end up paying this.
Such behaviour is more comparable to a highway robber than trusted advisor. If your conveyancer doesn’t want you to save money without paying them a cut, you should be wondering who they actually work for.
Our contracts don’t include revenue-raising nasties, which only serve to lower the sale price, cause unnecessary friction, and often, cost Vendors a lot of money.
This is not to say all conveyancers are like this – some lawyers are too – but given conveyancers are more likely to charge a lower ‘’headline’’ price, and sneak the remaining fees in through contractual clauses, consumers should be aware that comparing price alone does not give a clear indication of the cost you may actually end up paying. Sometimes trying to save a couple hundred dollars can cost thousands!
In other news:
- The First Home Guarantee begins 1 October, allowing first home buyers into the market with only a 5% deposit and no income limit caps.
- This will solve the housing crisis forever, and every struggling young couple looking for a home in which to start a family can breathe a huge sigh of relief.
- Only joking, of course. Sellers will celebrate as the marginal buyer can take on bigger loans, and pay much more interest to the big banks.
- You should expect to see a lot of property priced below $950,000 (the Melbourne price cap under the scheme) get a lot closer to $950,000 over the next year.
- The RBA has held interest rates at 3.60% and mentioned that property prices are increasing again due to the recent rate cuts.
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
