Costs to Budget for when Selling Your Property
Conveyancing Costs $590 + GST
Normally we charge at $690, but as a promotional special on for a limited time, we are offering $100 off our normal professional fee!
Starting at only charge $590 for our professional fees, for the sale of a property. This is payable upon settlement, with a small deposit being paid at the start.
Conveyancing Fees - FIXED
We will prepare your contract of sale, give advice and guidance on the sale and assist you through to settlement for a fixed fee.
When you have made the decision to sell your property, you need to know what the whole process is going to cost you. There are many costs to consider, some of them negotiable.
Be Sure to Negotiate Your Real Estate Agent Commissions
Real estate agents fees can vary greatly but are negotiable. Typically, you can expect to pay between 2-3.3% of the purchase price for the services of an agent. In addition to this there may be marketing fees and auction fees. A good real estate agent can be a valuable asset when selling; an agent who knows the market, understands the best way to advertise your home and has potential buyers lined up to get you the best possible price. You might consider using a vendor’s advocate to negotiate the sale of your property. Vendor’s advocates will negotiate with real estate agents on your behalf to get the best possible deal and method of sale for your circumstances.
Discharge fees vary depending on the lender and type of loan. Fees can range from $220 to $600. Check with your lender to confirm the amount. The Land Titles Office charges an additional fee to discharge any mortgages held over your property. The current rate as of August 2019 is $110.80 per mortgage.
Compulsory Electronic Settlement Fee
Electronic settlements have been mandated in Victoria since mid-2018. Settlements in Victoria are completed on an electronic platform called PEXA (Property Exchange Australia). PEXA is an online platform that removes the need for paper settlements, cheques and reduces the time it takes for cleared settlement funds to reach your account. PEXA’s fee is $114.07.
Council Rates Outstanding will be Adjusted at Settlement
As the owner of a property you pay council and water authorities rates and if applicable, owners corporation fees and land tax. When you decide to sell these rates are paid by you up until and including settlement day. They are adjusted at settlement to ensure the purchaser pays their portion of the bills. Figures are calculated in the "Statement of Adjustments" and any outstanding bills will be taken out of your settlement proceeds so the property is settled debt free.
Owners Corporation is involved (used to be called Body Corporate)
Add $195 average cost of Certificate that is needed.
Based on straight forward no additional work transactions.
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Buyers don't have the luxury of a 3 day cooling off period or buying subject to finance when they buy your property at auction.
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