Buying guide
Conveyancing fees in NZ
A cost-guide for buyers and sellers
Last updated: 29 October 2024
Buying or selling a house isn’t cheap. Once you get started you’ll quickly realise that there are a number of hidden costs involved, including conveyancing fees. To make sure you know what to expect, we’ve asked and answered - how much does conveyancing cost in NZ?
Lawyers fees for buying a house in NZ
- Expect to spend around $1400 to $2,000 for a basic property purchase, including establishment of one mortgage. Conveyancing prices vary and if your transaction is more complex you can expect to spend more.
This fee may include ‘disbursements’ which are charges paid to third parties like mortgage establishment fees, title search costs and local council charges.
For this amount your property lawyer will provide advice throughout the buying process, as well as getting documents ready and reviewing the sale and purchase agreement, LIM report and title. They may also need to liaise with the seller’s party to negotiate, resolve conflict or make changes to the sale and purchase agreement. Finally, once the deal’s done they will manage the settlement process and transfer the title to your name.
Lawyers fees for selling a house in NZ
- Expect to spend around $1,300 to $1,800 for a basic property sale, including discharge of one mortgage. Solicitor prices vary and if your transaction is more complex you can expect to spend more.
This fee may include drafting or revising a sale and purchase agreement, and changing or negotiating conditions with buyers. They will discharge your mortgage with banks, sort council information and water rates, get documents ready, manage settlement (including repayment of your mortgage). When the deal’s done they’ll register the title with the Land Transfer office and notify the council of the change of ownership.
A good lawyer can save you more than they cost you.
Complex transactions tend to cost more
(And costs add up quickly)
If your lawyer needs to spend more time on your transaction or deal with complex matters, they’ll charge you more. Here are a few examples of things that can push up typical conveyancing costs:
Purchasing bare land with a new title and CCC not issued.
Withdrawing your Kiwisaver to purchase a property.
Selling or purchasing a unit title property.
Buying off-the-plan or turnkey properties.
Reviewing cross lease property.
Reviewing a property development contract.
Overseas investment office application.
Buying with a guarantor loan.
Buying a property through a trust.
The fact is, buying and selling property is rarely simple. You may be using Kiwisaver, selling one property and buying another, discharging a mortgage and establishing another or buying with a friend. In most cases you can expect to spend more than the base amounts listed above - it’s not uncommon for conveyancing fees to be north of $3,000.
If you’d like to keep an eye on the cost of your conveyancing, it’s worth asking your lawyer for a price indication up front and to make you aware if anything crops up that may increase that price. And if cost is important to you, consider using one of many low cost, specialist conveyancers.
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