SELLING

Before proceeding with any conveyancing transaction it is important to know exactly what the costs are, selling a property is no different. Ask your conveyancer for a written quotation of the conveyancing fees and charges. You should also make sure the estate agent gives you a written quotation of his fees and charges or at least the manner in which they will be calculated.

The standard costs when selling real estate are:

  • Fees and charges payable to discharge any loan 
  • Agent's commission and charges for advertising etc
  • Rates and taxes adjustment for the period you owned the property
  • Moving costs
  • Balance of loan repayments
  • Conveyancing fees and disbursements (typically)
  • Title search
  • Zoning certificate from council
  • Drainage diagram
  • Agency fees (settlement etc)
  • Fee to arrange discharge of mortgage, when necessary 
  • Your Conveyancers fee 
  • Work required by your Mortgagee

 

BUYING

There are several costs involved in buying any real estate. It is vital that you know what they are before you commence the transaction in order to budget for them. Costs can blow out if you are not prepared and make yourself aware of what is involved.

Ask your conveyancer to give you a written quotation of all the fees and charges involved in your particular transaction so you know what the conveyancing process will cost you. Ask whether there are any other costs or charges that may arise that are not included in the quotation.  Standard fees and charges payable to your conveyancing:

  • Title search costs 
  • Governmental Inquiries 
  • Agency fees for settlement etc. 
  • Fee for attending to loan and mortgage documents, when necessary 
  • Your Conveyancing fee
  • Work required by your Mortgagee
  • Stamp Duty fees paid to the State Revenue Office
  • Registration fees paid to the Lands Department

There may be others depending on your individual transaction.

Other costs to be aware of:

  • Fees and charges for obtaining a loan
  • Mortgage insurance where applicable 
  • Adjustment of rates and taxes for the period you own the property
  • Insurance of buildings 
  • Removalists and other moving costs